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The example below applies to tax class D, which includes utility trailers, camper trailers, multipurpose trailers, and trailer coaches.
For Tax Class D, taxable value is 85% of MSRP.
SOT is charged on a sliding scale based on year of service. For Tax class D that scale is:
For a trailer with a MSRP of $30,000 the taxable valuation is $25,500 (85% of MSRP). This puts the SOT amount at:
The DMV’s legacy system was programmed so that SOT was calculated based on the vehicle’s model year, regardless of when the vehicle was initially purchased or registered. In these cases, some vehicles (for example a 2018 model year vehicle registered in 2017) were being charged the first year rate of 2.1% twice - once each for the initial year registered and the actual model year, rather than moving down a year of service.
Using the example above, the owner of the $30,000 trailer would pay $535.50 twice before moving to $382.50 in his or her third year of registration.
The Colorado DRIVES system was configured to properly charge the first year of SOT one time using the initial registration date instead of the model year for new registrations when the vehicle’s model year is newer than the current year. This change was effective on the system’s “go live” date of August 6, 2018.
A printable version of this information is available here.