jwardell
Well-Known Member
- First Name
- Josh
- Joined
- Sep 14, 2021
- Threads
- 1
- Messages
- 212
- Reaction score
- 320
- Location
- Boston
- Website
- www.jwardell.com
- Vehicles
- R1T
- Occupation
- Electrical Engineer
Super helpful, thanks. For reference, their valuation is $71500. It's supposed to be on the base price of the vehicle.You need to file for an abatement on the Trade-in's MA excise tax and submit it to your town's board of assessors. This is not automatic and you get nothing back if you do not file the form. You can get the generic form from mass.gov or check with you town if they have something specific. I just did this for my trade in and got a few hundred back on it. You should always do this when you trade in a somewhat-new car or it's totaled out. But I suspect many people do not.
As for the excise tax on the R1T, it would have been prorated for the portion of 2022 you own it. The tax amount is $25 for every $1000 of the car's value.
Valuation = MSRP * 90%, (the 90% factor is because the 2022 R1T is new and hasn't depreciated yet. Next year, it drops to 60% and keeps dropping eventually to 10%)
Excise Tax is $25 per $1000 of valuation * (number of months you owned it / 12)
~$75K * 90% * $25/$1000 * 8months/12months = roughly $1100
When I got my Model 3, I was taxed for nearly the full price, even though things like primium and autopilot were add ons at the time. I was able to submit the moroney sticker to the RMV to get them to approve the proper base value, and then take that letter to the city and get an abatement. Yeah, everything is stacked against you.
But Rivian's Moroney doesn't help here, just stating R1T Adventure and full price
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