Minnesota HF3397 modifies the motor vehicle registration tax calculation.

Minnesota HF3397 amends the motor vehicle registration tax calculation. The bill specifies that the tax is based on the manufacturer's suggested retail price of the vehicle, adjusted for the vehicle's age. For vehicles registered before November 16, 2020, the tax is 1.54 percent of the vehicle's price. For vehicles registered on or after that date, the tax percentage decreases annually from 100 percent in the first year to 10 percent in the tenth year. After the tenth year, the tax is fixed at $20.

Minnesota HF3397 modifies the motor vehicle registration tax calculation.

Minnesota HF3397 amends the motor vehicle registration tax calculation. The bill specifies that the tax is based on the manufacturer's suggested retail price of the vehicle, adjusted for the vehicle's age. For vehicles registered before November 16, 2020, the tax is 1.54 percent of the vehicle's price. For vehicles registered on or after that date, the tax percentage decreases annually from 100 percent in the first year to 10 percent in the tenth year. After the tenth year, the tax is fixed at $20.