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Issue Briefs

The Specific Ownership Tax (20-01)

Fiscal Policy & Taxes
Transportation & Motor Vehicles

In place of property taxes, Colorado citizens pay the specific ownership tax (SOT) on their vehicles.  This issue brief provides an overview of the SOT, describes how the SOT is calculated, lists the SOT exemptions, and describes its collection and distribution.

The effective date for bills enacted without a safety clause is August 7, 2024, if the General Assembly adjourns sine die on May 8, 2024, unless otherwise specified. Details