Motor vehicle registration tax modifications

SF 3669 modifies Minnesota's motor vehicle registration tax for passenger cars and hearses. It reduces the tax rate from 1.54% to 1.25% for vehicles registered before November 16, 2020, and from 1.575% to 1.285% for vehicles registered on or after that date. The bill changes the annual tax calculation, lowering the percentage applied each year (e.g., from 95% to 90% in year two) until reaching a flat $20 annual tax after the 10th year of registration. This affects all Minnesota vehicle owners registering passenger cars or hearses, with changes effective for registration periods starting January 1, 2027.