Bill > SF3669

This bill modifies the motor vehicle registration tax in Minnesota by reducing the percentage of the manufacturer's suggested retail price (MSRP) used to calculate the tax for passenger automobiles and hearses. Specifically, for vehicles initially registered before November 16, 2020, the tax rate will decrease from 1.54% to 1.25% of the MSRP, and for vehicles initially registered on or after November 16, 2020, the rate will decrease from 1.575% to 1.285% of the MSRP. The bill also adjusts the depreciation schedule used to determine the taxable value of the vehicle over its lifespan, with the percentage of the MSRP decreasing more rapidly in the early years of a vehicle's life. These changes are set to take effect for registration periods beginning on or after January 1, 2027.

Transportation and Infrastructure

https://www.revisor.mn.gov/bills/94/2026/0/SF/3669/