Question: are car taxes going up in 2020?
Answer: Starting January 1, 2020, local sales tax will be applied to any trade-in value over $10,000! In the example above, an Illinoisan buying a new vehicle for $35,000 - about the average cost in 2018 - and trading in their car valued at $20,000. Currently, they would only pay sales tax on the difference, or $15,000.