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Sponsor seeks bill‑of‑sale taxation for vehicle transfers to reduce overvaluation; DRT warns of fraud risk
Summary
Bill 88‑38 would base vehicle transfer tax on the notarized bill of sale instead of Kelley Blue Book (KBB) values; sponsors say the change is fairer for Guam’s high‑mileage, salt‑exposed fleet while DRT warns buyer‑declared prices can enable fraud without verification safeguards.
At a public hearing April 29, legislators considered Bill 88‑38, introduced to change how the government of Guam values used vehicles for transfer tax purposes. The bill would assess tax on the notarized bill of sale — the price actually agreed by buyer and seller — rather than using third‑party guides such as Kelley Blue Book (KBB). Sponsors said KBB values overstate market prices on Guam because of local wear, salt air and high mileage, which can produce inflated taxes for low‑income residents.
Senator Tello Titegwe, the bill’s sponsor, framed the proposal as an equity and administrative reform aimed at preventing overtaxation and improving title‑transfer compliance that in turn…
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