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Lieutenant governor urges taxing used cars on sale price, not JD Power value
Summary
Lieutenant Governor John Rogers told the House Transportation Committee he wants Vermont to tax private used-car sales on the buyer’s actual purchase price, saying national valuation guides overstate values and disproportionately harm lower-income buyers.
Lieutenant Governor John Rogers told the House Transportation Committee on April 30 that Vermont should stop taxing private used-vehicle sales on out-of-state valuation guides and instead tax the actual sale price.
Rogers said the current practice, which relies on national guides such as the NADA/JD Power values, can force buyers to pay sales tax on an amount higher than they actually paid for the vehicle. "I bought a used Subaru that needed some work for $7,000 and the state wanted to charge me sales tax on $12,500 almost double," Rogers said.
The proposal Rogers described would reinstate an older Vermont approach under which the buyer and seller sign a statement certifying the transaction price and the state taxes that amount.…
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