This tool is designed for calculating the sales tax rates for residents of Larimer County who purchased a motor vehicle on or after January 1st, 2019.
How do you calculate sales tax on a car in Colorado?
When a vehicle is purchased in Colorado, state sales must be collected. All buyers must pay 2.9% of the purchase price for state sales tax. If the vehicle is purchased from a dealer in Colorado, the dealer will collect the state sales tax and remit it to the state.
What is the taxable value of a car in Colorado?
Taxable Value: A percentage of the MSRP (Manufacturer's Suggested Retail Price). If the vehicle is a passenger vehicle, motorhome, or motorcycle multiply the MSRP by 85% and the sum is the taxable value. If the vehicle is a light truck multiply the MSRP by 75% and the sum is the taxable value.
Is there a maximum sales tax on a car in Colorado?
Colorado collects a 2.9% state sales tax rate on the purchase of all vehicles. However, a county tax of up to 5% and a city or local tax of up to 8% can also be applicable in addition to the state sales tax. The maximum tax that can be owed is 525 dollars.