# How much tax do I pay on a used car in Illinois?

## How much tax do I pay on a used car in Illinois?

If you’re buying a new or used car, it’s important to know the taxes and fees you may have to pay. Illinois tax on new and used vehicles is generally 6.25% but can vary by location.

## How much is vehicle tax in Illinois?

Illinois collects a 7.25% state sales tax rate on the purchase of all vehicles. There is also between a 0.25% and 0.75% when it comes to county tax. In addition to state and county tax, the City of Chicago has a 1.25% sales tax. There also may be a documentary fee of 166 dollars at some dealerships.

What are the taxes on a 30000 car?

Sales tax: Sales tax on a new vehicle can take people by surprise. For example, a 9% sales tax on a \$30,000 car is \$2,700. Cities and counties frequently add their own tax on top of the state tax, so the amount you pay can vary within a state.

How do I calculate taxes and fees on a used car?

To calculate the sales tax on your vehicle, find the total sales tax fee for the city. The minimum is 7.25%. Multiply the vehicle price (before trade-in or incentives) by the sales tax fee. For example, imagine you are purchasing a vehicle for \$20,000 with the state sales tax of 7.25%.

### How do you figure sales tax on a car in Illinois?

Determine tax rate: Once you have your taxable value, determine the tax rate defined by your city, county, and state. Multiply: Multiply your tax rate by your taxable value, which gives you the amount of sales tax you will pay on the vehicle.

### How much is Missouri property tax on cars?

The study collected data on vehicle property and real-estate property taxes in each state, measuring states based on effective tax rates and average annual taxes. In regards to vehicle property taxes, Missouri had a 2.50% effective vehicle tax rate and averaged \$623 for annual taxes on a \$25,000 car.

How much are taxes on a car in Missouri?

You Will Pay: State sales tax of 4.225 percent, plus your local sales tax Document on the purchase price, less trade-in allowance, if any; \$8.50 title fee; Registration (license plate) fees, based on either taxable horsepower or vehicle weight; \$6 title processing fee; and.

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