Question: How many vehicles receive 100% subsidy under the current allocation of the state subsidy, and what is the remaining value distribution of vehicles? (Councilman Elnoubi)
Response:
As of Tax Year 2024, 31,958 personal use vehicles received 100% subsidy from the State Car Tax credit. The remaining distribution is as follows:
Data is based on Tax Year 2024 (FY25) and is prorated.
Based on the State Code, the State Car Tax credit is only applicable to the 1st $20,000 of assessed value, and is only applicable to Personal Use vehicles.
Based on the FY26 Proposed Budget, current year Car Tax is estimated to generate $57.7 million in General Fund revenue.