call AZ motor vehicle dept and ask them. when you register a vehicle in arizona they use a table (based on year, make, model) to determine a value to use to to calculate the registration fee. it is their table and does not reflect what you actually paid for it or what it is worth. once they determine that value it decreases by 16% each subsequent year. being that it is going on 15 years old i would suspect that 15 years of a 16% reduction has taken it down pretty low. but as noted they have some fixed fees that they apply to each registration. they just added $32 per year to these fees though there is an effort to revoke this increase.
but this is just one component of the total cost of ownership. you should get insurance quotes also and then add everything together. one other risk is getting cited for having an out of state registration yet keeping the vehicle in california where you apparently reside most of the time.
do your research!
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