Minnesota SF3923 modifies the motor vehicle registration tax calculation.

Minnesota SF3923 amends the motor vehicle registration tax calculation by basing it on the manufacturer's suggested retail price of the vehicle, with specific percentage reductions over the vehicle's first ten years. The tax calculation excludes the cost of accessories, optional equipment, and destination charges, except for vehicles registered before November 16, 2020. The registrar determines the price using various sources, and the tax is capped at the lowest amount previously paid or due. This change takes effect for registrations starting on or after January 1, 2027.

Minnesota SF3923 modifies the motor vehicle registration tax calculation.

Minnesota SF3923 amends the motor vehicle registration tax calculation by basing it on the manufacturer's suggested retail price of the vehicle, with specific percentage reductions over the vehicle's first ten years. The tax calculation excludes the cost of accessories, optional equipment, and destination charges, except for vehicles registered before November 16, 2020. The registrar determines the price using various sources, and the tax is capped at the lowest amount previously paid or due. This change takes effect for registrations starting on or after January 1, 2027.