SENATE BILL REPORT

SB 5878

BYSenator Peterson

Determining the fair market value of unlisted vehicles for motor vehicle excise tax purposes.

Senate Committee on Transportation

Senate Hearing Date(s):March 4, 1987; March 5, 1987

Majority Report:  Do pass.

      Signed by Senators Peterson, Chairman; Hansen, Vice Chairman; Tanner, Vice Chairman; Bailey, Barr, Bender, Conner, DeJarnatt, Garrett, Halsan, Nelson, Patterson, Smitherman, von Reichbauer, West.

Senate Staff:Brad Lovaas (786-7307)

                  March 9, 1987

AS REPORTED BY COMMITTEE ON TRANSPORTATION, MARCH 5, 1987

BACKGROUND:

When a person goes to register a vehicle with the county auditor, and the vehicle fair market value is unlisted on the taxing schedule, prepared by the Department of Revenue and the Department of Licensing, the county auditor sends the person to the county assessor.  The county assessor is to ascertain the amount of tax due from published sources.

SUMMARY:

Modeled after the boat tax assessment plan, this bill allows the owner of an unlisted vehicle to make a notarized declaration of the fair market value for purposes of determining the amount of excise tax due.  The Department of Revenue may challenge the value specified in the notarized declaration, in which case the Department shall appraise the vehicle.

Fiscal Note:      none requested

Senate Committee - Testified: No one