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S.F. No. 725 - Increased Price Threshold for Tax Treatment of Noncollector Vehicles
 
Author: Senator Bill Weber
 
Prepared By: Nora Pollock, Senate Counsel (651/297-8066)
 
Date: February 13, 2017



 

Under current law, purchase or use of a passenger automobile that is at least 10 years old and does not have a resale value of $3,000 or more as determined by a nationally recognized independent source is subject to $10 tax. This bill increases the threshold for the resale value to $5,000. Effective for sales and purchases on or after July 1, 2017.

 
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