MN HF3547

Changes motor vehicle registration tax calculation from "base value" to "manufacturer's suggested retail price" for passenger automobiles and hearses, effective January 1, 2021, or upon system deployment.

Increases registration tax rate from 1.25 percent to 1.28 percent for vehicles initially registered in Minnesota on or after the effective date, while maintaining 1.25 percent for previously registered vehicles.

Excludes destination charges and optional equipment costs from registration tax calculations for new vehicles registered after the effective date, though destination charges remain included for vehicles previously registered before the effective date.

Adds new subdivision 23 allowing the commissioner to adjust registration tax amounts only to correct errors or omissions, with written notice required to vehicle owners, effective July 1, 2020.

Establishes procedures for determining manufacturer's suggested retail price using manufacturer list prices, dealer determinations, retail price labels, or actual sales prices in order of preference when information is unavailable.