How is the cost of a license plate computed?
The VIN or Vehicle Identification Number from your vehicle is entered into the state/county computer, which pulls a value acquired by the State Tax Commission from R. L. Polk Black Book, a supplier of the Manufacturers’ Suggested Retail Price (MSRP). This amount is multiplied times the millage rate for the area in which you reside, less the tag credit you receive in Mississippi when you purchase or renew your plate on time, plus any penalty if applicable.
