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Title 42

MOTOR VEHICLES – SPECIFIC OWNERSHIP

42-3-106. Tax imposed - classification - taxable value.

(1) The owner of each item of classified personal property shall pay an annual specific ownership tax unless exempted by this article. Such specific ownership tax shall be annually computed in accordance with section 42-3-107 in lieu of all annual ad valorem taxes.

(2) For the purpose of imposing graduated annual specific ownership taxes, the personal property specified in section 6 of article X of the state constitution is classified as follows:

(a) Every motor vehicle, truck, laden or unladen truck tractor, trailer, and semitrailer used in the business of transporting persons or property over any public highway in this state as an interstate commercial carrier for which an application is made for apportioned registration, regardless of base jurisdiction, shall be Class A personal property.

(b) Every truck, laden or unladen truck tractor, trailer, and semitrailer used for the purpose of transporting property over any public highway in this state and not included in Class A shall be Class B personal property; except that multipurpose trailers shall be Class D personal property.

(d) Every utility trailer, camper trailer, multipurpose trailer, and trailer coach shall be Class D personal property.

(e) Every item of mobile machinery and self-propelled construction equipment required to be registered under this article shall be Class F personal property.

(3) It is unlawful for any owner of a vehicle to permanently attach to such vehicle mounted equipment, as defined in section 42-1-102 (60), unless, within twenty days after such attachment, the owner applies for registration of such mounted equipment to the authorized agent in the county where the equipment is required to be registered. Such application shall be on forms prescribed by the department and shall describe the equipment to be mounted, including serial number, make, model, year of manufacture, weight, and cost.

(4) The taxable value of every item of classified personal property shall be the value determined for the year of its manufacture or the year it is designated by the manufacturer as a current model, and such determined taxable value shall not change. Regardless of the date of acquisition by an owner, the year of manufacture or the year for which designated by the manufacturer as a current model shall be considered as the first year of service. The maximum rate of specific ownership taxation shall apply to the taxable value in the first year of service, and annual downward graduations from such maximum rate shall apply to such taxable value for the number of later years of service specified for each class of personal property.

(5) Manufactured homes shall not be classified for purposes of imposing specific ownership taxes but shall be subject to the imposition of ad valorem taxes in the manner provided in part 2 of article 5 of title 39, C.R.S.

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