HB 480 would replace the annual car tag tax with a one time title fee. (photo by Benjamin Elijah Griffin via Flickr)
House bill 480’s sponsor Republican Harry Geisinger wants to exchange the annual ad valorem tax on vehicles with one he says could generate more revenue.
"When you purchase your vehicle you will have a one time title fee based on the value of the vehicle at 6.75 percent, period and you’re finished," says Geisinger.
He says the current title fee, also paid at the time of purchase at 7 percent, isn’t fair, because it doesn’t catch casual sales-- those made between individuals.
His bill, he says, would raise $150 million for the state's ailing trauma network.
The legislation is in a senate committee.
