MN SF3669

Reduces the base registration tax rate for passenger automobiles and hearses from 1.54% to 1.25% of MSRP for vehicles initially registered before November 16, 2020, and from 1.575% to 1.285% for vehicles registered on or after that date

Accelerates the depreciation schedule used to calculate registration taxes, reducing the percentage of MSRP applied each year (e.g., second year drops from 95% to 90%, third year from 90% to 80%, continuing through year nine)

Maintains the flat $20 calculation for vehicles in their 11th year and beyond, with a $10 base fee added to all calculations

Effective the day following enactment and applies to registration periods starting on or after January 1, 2027