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Glenn Hegar
Texas Comptroller of Public Accounts
Glenn Hegar
Texas Comptroller of Public Accounts
Glenn Hegar
Texas Comptroller of Public Accounts

taxes

FAIR MARKET VALUE DEDUCTION


A person in the business of selling, renting, or leasing motor vehicles may deduct its fair market value of a retired vehicle that is titled in Texas from the total consideration paid for a replacement vehicle. The fair market value deduction (FMVD) will then reduce the motor vehicle tax liability due on the replacement vehicle.

A motor vehicle includes a self-propelled vehicle designed to transport persons or property on the public highway and a vehicle designed to be towed by a self-propelled vehicle carrying property. The term includes automobiles, buses, vans, motor homes, motorcycles, trucks and truck tractors, truck cabs and chassis, semitrailers, trailers and travel trailers.

Additional Resources


96-141
(05/2021)

HB855 Browser Statement

In 2015, the Texas Legislature passed House Bill 855, which requires state agencies to publish a list of the three most commonly used Web browsers on their websites. The Texas Comptroller’s most commonly used Web browsers are Google Chrome, Microsoft Internet Explorer and Apple Safari.

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