Motor vehicle registration tax modified.

This bill modifies how the state of Minnesota calculates registration taxes for passenger automobiles and hearses, directly affecting vehicle owners and dealers. It lowers the tax rate applied to the manufacturer's suggested retail price from 1.54% to 1.25% for cars registered before November 2020, and from 1.575% to 1.285% for newer vehicles, while also removing destination charges from the calculation for most cars. The legislation adjusts the percentage of the vehicle price used for tax purposes as the car ages, reducing the rate each year until it reaches a flat fee in the eleventh year. These tax changes are scheduled to take effect for registration periods beginning on or after January 1, 2027.