How much will I have to pay for tags and taxes for a 99 Chevy Cavalier that cost me $500?

I live in MD, and I believe we pay 5% of what the car costs.

How much will I have to pay for tags and taxes for a 99 Chevy Cavalier that cost me $500?
http://www.mva.state.md.us/VehicleServ/R...





Toward the bottom on that page:





Proof of purchase price - This should be a bill of sale signed by both the buyer(s) and seller(s). The bill of sale must be notarized if the following conditions apply:


the vehicle is less than 7 years old; and


the purchase price is at least $500 below the book value; and


the new owner (buyer) wants to base the excise tax calculation (5% of the vehicle's value) on the sale price rather than the book value.





This would seem to indicate that MD (as do several other states) goes by the book value of a vehicle and not what you claim you paid for it.
Reply:Then that would make the taxes at $25.00. Tags vary from state to state as well. If you don't have a previous tag that you can transfer, it will cost more money. For a new tag, it costs a little less than $100 where I live. If you're transferring a tag, it's probably about 30 bucks. This is just a guesstimate since I don't live in Maryland.



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