Yea but they are no where near $350 for the price of this vehicle. I know its different in every state and they just get you in other areas though.In Michigan, license renewal is based on vehicle value. So yes, each year, depreciation reduces the renewal cost.
Another big Michigan taxation issue that is really unfair: Trailer plates cost $0. At first, that's cool, "but wait, there's more!" Imagine a $200K travel trailer sitting next to a $200K Motorhome. The trailer pays $0, the motorhome pay $1,000 per year.