The following notice was sent to the Tax Assessor’s office:
We are notifying you of a vehicle valuation issue that may affect the amount owed on vehicle owners’ 2022 excise tax bill.
It has recently come to the attention of the RMV that in a small number of cases, the Manufacturer’s Suggested Retail Price (MSRP) was incorrectly recorded.
- Until recently, the RMV had been accepting the values and updating the RMV system (ATLAS) with the provided values which, in many cases, have turned out to be substantially below the actual MSRP for the vehicle.
- As you are aware, the MSRP is used to calculate the annual Excise Tax bill for the vehicle and these vehicles were billed for 2021 using this low MSRP value.
- The RMV has corrected the problem that caused this issue and has also corrected the erroneously low MSRP values. This may result in a taxpayer receiving a higher excise bill in 2022.