Fair Market Value of a Leased Motor Vehicle
This bill revises the calculation of the fair market value of a leased motor vehicle for purposes of title ad valorem tax (TAVT). Under this bill the value of a motor vehicle leased primarily for personal use will not include interest or finance charges included in base or down payments.
1/1/2022 - Effective Date
5/4/2021 - Act 169
5/4/2021 - Date Signed by Governor