How is the Excise tax computed?

The tax is based on a 12-month calendar year, and the rate is $25 per one thousand dollars of the valuation on each vehicle. Vehicle valuations are set annually by the Registry of Motor Vehicles according to a formula in the excise tax law. Present market value, condition, price paid, and mileage on the vehicle do not affect the excise tax.

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1. What is an excise tax?
2. What if I don't own the vehicle for the entire year?
3. What determines Massachusetts residency for Excise Tax?
4. How is the Excise tax computed?
5. Where can I find more information and answers to other questions about Motor Vehicle and Trailer Excise taxes?