Excise Tax-Motor Vehicle & Boat
MOTOR VEHICLE EXCISE
Massachusetts law requires that you pay a tax on registered motor vehicles or trailers. The motor vehicle excise is a tax assessed on owners of all registered motor vehicles for the privilege of registration. Motor vehicles include motorcycles, cars, buses, Motor Homes, off-road vehicles, and trucks. Motor Vehicle Excise taxes run on a Calendar Year (January-December).
Motor Vehicle Excise - MGL Chapter 60A
The Tax Rate is $25.00 per thousand $ of value.
Tax Year Cycle: January 1 to December 31.
Valuation is based on a % of the factory list price new, established by the manufacturer for the year of manufacture as follows:
50% - In the year preceding the designated year of manufacture
90% - In the year of manufacture
60% - In the 2nd year
40% - In the 3rd year
25% - In the 4th year
10% - In the 5th and succeeding years
All Motor Vehicle Excise Tax Bill are due in full on or before the 30th day after issuance
More information maybe found HERE
BOAT EXCISE
The boat excise tax is imposed for the privilege of using the waterways of the Commonwealth of Massachusetts.
If you own a boat and it is habitually situated, moored or docked in Truro you need to pay annual taxes known as Boat Excise. This is in addition to any Mooring or Waterway fees by the Town of Truro, etc. We obtain information from multiple sources when producing the Boat Excise Bills. Boat Excise Tax runs on the Fiscal Year of July 1-June 30. Bills are usually sent out in Dec or Jan of the FY.
Some Commercial Vessels are Exempt from Taxation. Please contact the Assessors Office for more information. The first step to an Abatement for Boat Excise as a Commercial Fisherman is completing the Abatement form along with a copy of your Commercial Fishing License and your most recent Tax return (with confidential information redacted) with the Assessing Department indicating Commercial Fishing as your primary occupation.
Vessels are taxed according to the following schedule based on Age and Length:
Boat Excise Valuation Schedule: Taxes are $10.00 per thousand of valuation.
LENGTH OF VESSEL | UNDER 4 YRS OF AGE | 4-6 YEARS OF AGE | 7 OR MORE YEARS OF AGE |
|---|---|---|---|
Under 16' feet | NO TAX | NO TAX | NO TAX |
16', but less than 17.5' | $1,500 | NO TAX | NO TAX |
17.5', but less than 20' | $3,000 | $2,000 | $1,500 |
20', but less than 22.5' | $5,000 | $3,300 | $2,500 |
22.5', but less than 25' | $7,500 | $5,000 | $3,800 |
25', but less than 27.5' | $10,500 | $7,000 | $5,300 |
27.5', but less than 30' | $14,000 | $9,300 | $7,000 |
30', but less than 35' | $18,500 | $12,300 | $9,300 |
35', but less than 40' | $24,000 | $16,000 | $12,000 |
40', but less than 50' | $31,500 | $21,000 | $15,800 |
50', but less than 60' | $41,000 | $27,300 | $20,500 |
60' or longer | $50,000 | $33,000 | $24,800 |