HB 05469 Summary

• Municipalities are prohibited from collecting property tax on commercial motor vehicles beginning October 1, 2012, shifting taxation to the state level.

• The Commissioner of Motor Vehicles assumes responsibility for calculating and collecting commercial motor vehicle property taxes based on a statewide mill rate determined by the Office of Policy and Management.

• Municipalities must submit lists of commercial motor vehicle values to the Department of Motor Vehicles by January 31 and August 31 annually, and receive state reimbursement for lost tax revenue.

• A new "commercial motor vehicle property tax equalization account" is established to collect state-level taxes and distribute reimbursements to municipalities on fixed schedules.

• Existing motor vehicle tax provisions are amended to clarify that non-commercial motor vehicles continue to be taxed locally, while commercial motor vehicles are exclusively subject to state taxation.