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Proposition 2½ (Mass. Gen. L. c. 59, § 21C) is a Massachusetts statute that limits property tax assessments and, secondarily, automobile excise tax levies by Massachusetts municipalities. The name of the initiative refers to the 2.5% ceiling on total property taxes annually as well as the 2.5% limit on property tax increases.
Article 78 (LXXVIII) of the Massachusetts Constitution says all motor vehicle fees and taxes (except registration excise tax in lieu of property tax), including fuel taxes, must be spent on transportation, including roads, mass transit, traffic law enforcement, and administration. Transportation is thus a net recipient of general state funds.
In Massachusetts, the excise tax is billed separately from registration fees, by the town or city in which the vehicle is registered, and was set at the rate of $25 per $1,000 of valuation by a 1980 law called Proposition 2½. [48] The towns and cities are required by state law to bill and collect the excise tax.
While pledging not to raise taxes at the state level, Healey proposes to allow cities and towns to raise local taxes on meals, vehicles and hotels.
Massachusetts. Auto sales tax rate: 6.25%. Sales tax paid: $938. Car price + sales tax: $15,938. ... The sales tax rates were sourced from PolicyGenius.com’s Auto Tax by State. Assuming the ...
Excise taxes on tobacco raised $12.4 billion in fiscal year 2020. [2] The tax equals $1.01 per pack of 20 of cigarettes. Federal excise tax revenue from tobacco products peaked in fiscal year 2010 at $17.2 billion after the increase in tobacco product tax rates in the Children's Health Insurance Program Reauthorization Act of 2009. This tax ...
Excise taxes apply to specific goods and services. Businesses that make or sell chosen goods and services collect most of these taxes. As a consumer, you generally won’t get a bill for excise tax.
The United States federal excise tax on gasoline is 18.4 cents per gallon and 24.4 cents per gallon for diesel fuel. [1] [2] Proceeds from the tax partly support the Highway Trust Fund. The federal tax was last raised on October 1, 1993, and is not indexed to inflation, which increased 111% from Oct