Illinois announces new depreciation rates for out-of-state motor vehicle use tax

Omer Osman Secretary of Transportation | LinkedIn

By Prairie State Wire

Jun 3, 2024

For motor vehicles brought into Illinois on or after July 1, 2024, the presumed average life expectancy of such motor vehicles is set at 60 months. The depreciation rate for these vehicles will be 1.67 percent (0.0167) for each whole month of out-of-state use.

Further details can be found in the FY 2024-27 Rate Change for Out-of-State Depreciation on Motor Vehicle Use Tax, effective from July 1, 2024.

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Illinois Department of Transportation

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