The total price on the window sticker or dealer invoice rarely reflects the actual amount you will pay at the closing table. Combined Tax Rate Taxable Vehicle Price Total Sales Tax 7.
Rural Vs Urban Car Tax Illinois Rates: Understanding the Differences
The local tax is usually a percentage of the same taxable base and is collected by the dealer on behalf of the local government. For example, the Chicago metropolitan area typically has a combined local rate that is higher than rural counties.
For example, if you purchase a vehicle for $20,000 in a location with a combined rate of 8%, the calculation would be $20,000 x 0. You should always confirm the combined rate for the exact location where the vehicle will be registered to ensure your calculation is accurate.
Rural Vs Urban Car Tax Illinois Rates And Combined Rates
State law adds a significant percentage on top of the purchase price, and local jurisdictions can add even more. 00 Exemptions and Special Cases.
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