297B.025 OLDER PASSENGER AUTOMOBILE.
Subdivision 1. Noncollector vehicle.
Purchase or use of a passenger automobile as defined
168.011, subdivision 7
, shall be taxed pursuant to section
297B.02, subdivision 2
, if the
passenger automobile (1) is in the tenth or subsequent year of vehicle life, and (2) does not have a
resale value of $3,000 or more, as determined using nationally recognized sources of information
on automobile resale values, as designated by the registrar of motor vehicles.
Subd. 2. Collector vehicle.
A passenger automobile that is registered under section
, 1b, 1c, 1d, or 1h, or a fire truck registered under section
168.10, subdivision 1c
shall be taxed under section
297B.02, subdivision 3
. If the vehicle is subsequently registered in
another class not under section
168.10, subdivision 1a
, 1b, 1c, 1d, or 1h, within one year of the
date of registration under those subdivisions, it shall be subject to the full excise tax imposed
under subdivision 1.
History: 1Sp1985 c 14 art 2 s 12; 1988 c 636 s 15; 1989 c 277 art 1 s 22; 1995 c 264
art 2 s 36; 2003 c 127 art 6 s 15,16