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2012 -- S 2044 | |
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LC00049 | |
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STATE OF RHODE ISLAND | |
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IN GENERAL ASSEMBLY | |
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JANUARY SESSION, A.D. 2012 | |
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S E N A T E R E S O L U T I O N | |
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RESPECTFULLY REQUESTING THE VEHICLE VALUE COMMISSION TO EXAMINE | |
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CURRENT METHODOLOGY FOR DETERMINING MOTOR VEHICLE VALUES | |
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Introduced By: Senators Walaska, Lynch, and McCaffrey | |
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Date Introduced: January 11, 2012 | |
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Referred To: Senate Finance | |
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WHEREAS, Recent changes in state law relating to the motor vehicle excise tax have |
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resulted in an increased burden to the taxpayer and have increased the number of previously- |
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exempt cars that are now subject to the motor vehicle excise tax; and |
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WHEREAS, The motor vehicle excise tax is a tax upon the privilege of registration and is |
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based on the number of days the vehicle or trailer was registered during the preceding calendar |
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year and the assessed value of the vehicle; and |
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WHEREAS, The Vehicle Value Commission was established under Chapter 44-34 of the |
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Rhode Island General Laws and is directed to adopt by rule a methodology for determining the |
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presumptive value of motor vehicles subject to the excise tax; and |
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WHEREAS, Currently, the Vehicle Value Commission relies exclusively on the highest |
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possible book value suggested by the National Automobile Dealers Association (NADA); and |
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WHEREAS, As a result of the Vehicle Value Commission’s “presumptive values” |
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methodology, most used cars owned by Rhode Island residents, whether one year old or |
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seventeen years old, are treated for tax purposes as if they were almost “like new”; now, therefore |
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be it |
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RESOLVED, That this Senate of the State of Rhode Island and Providence Plantations |
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hereby requests the Vehicle Value Commission to examine its current methodology for |
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determining motor vehicle values and implement changes that would institute a more accurate |
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and realistic assessment of market values for motor vehicles; and be it further |
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RESOLVED, That the Secretary of State be and he hereby is authorized and directed to |
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transmit a duly certified copy of this resolution to the Director of the Rhode Island Department of |
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Revenue. |
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LC00049 | |
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