Oklahoma is a sham as well. If my GT is sold ten times, it still gets hit with excise tax at each sale.
Most vehicles are assessed excise tax on the basis of their purchase price, provided that purchase price is within 20% of the average retail value for that specific model vehicle. If the purchase price provided is not within that 20% range, a taxable value within that range is established for excise tax assessment purposes.
The purchase price may include a deduction for any dealer rebates or discounts.
The purchase price may not include a deduction for any traded in vehicle.
For new vehicles, a copy of the purchase agreement or bill of sale from the dealer is required.
For used vehicles, either purchase price listed in assignment portion of conforming title certificate, a copy of a bill of sale or purchase agreement, or a notarized Declaration of Vehicle Purchase Price (Form 722-1 available for downloading from the Forms section of this site) is required.
Standard vehicle excise tax is assessed as follows:
New Vehicle: 3.25% of the purchase price (or taxable value, if different)
Used Vehicle: $20.00 on the 1st $1500.00 of value + 3.25% of the remainder
