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In June 2017, Senate Bills 94 and 95 were passed by the Senate which allowed for a person trading-in a used RV to purchase a new RV to be taxed only on the difference between the value on the trade-in and the new RV price. For example, if the trade-in value of an RV is $50,000 and a new 2018 RV is $100,000, the six percent sales tax will only be applied on the difference, or $50,000, Sheffer explained.
Michigan Gov. Rick Snyder vetoed the bills in July 2017, but the veto was overridden by the legislature. These bills mark the first time a Michigan governor’s veto has been overturned since 2002.
“This is a great deal for those who enjoy RVing but may have been holding off on purchasing a new RV,” said Sheffer. “In addition to being great news for RV buyers, RV dealers are thrilled because it gives them another sales tool.”
“These Public Acts 1 and 2 of 2018 are not only benefiting family-run businesses but the state economy as a whole,” William Sheffer, executive director of MARVAC said. “We are pleased the dedicated effort of MARVAC on behalf of RV enthusiasts across the state has come to such a beneficial outcome.”
With Michigan’s largest RV Show – the 52nd Annual Detroit Camper & RV Show at Suburban Collection Showplace in Novi – running Feb. 7-11, RV buyers will have an opportunity to take advantage of the substantial new tax savings.