2013 Vehicle Valuation Manual –Title Ad Valorem Tax
Fair Market Value is the value listed in the Department of Revenue assessment manual minus trade-in for dealer sales. If not listed in the assessment manual, use the greater of the value from the bill of sale or the “clean retail” value from the NADA guide, January 1, 2013 edition, minus trade-in value for dealer sales.
For obtaining the TAVT amount the formula would be as follows: FMV * 6.5% = TAVT
Vehicles that are subject to the new title ad valorem tax will not be subject to sales and use tax or the annual ad valorem tax. Annual registration requirements still apply. Check with your local county tag office for details on emissions testing, mandatory insurance, and driver’s license requirements necessary to renew your tag by your expiration date.
