(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
pers
Free access — add to your briefcase to read the full text and ask questions with AI
(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.
(c) Every motor vehicle not included in Class A or Class B shall be Class C
personal property.
(d) Every utility trailer, camper trailer, multipurpose trailer, and trailer coach
shall be Class D personal property.
(e) Every item of special mobile machinery, except power takeoff equipment,
that is required to be registered under this article 3 or that is covered by a
registration exempt certificate issued by the department in accordance with
section 42-3-107 (16)(g) is Class F personal property. If a farm tractor, meeting the
definition of special mobile machinery, is used for any purpose other than
agricultural production for more than a seventy-two-hour period at the site where it
is used for nonagricultural purposes, it is Class F personal property, but it is
granted a prorated registration under section 42-3-107 to cover the use. The
authorized agent shall notify the owner of the farm tractor of the prorated
registration. Storing a farm tractor at a site does not give rise to a presumption that
the tractor was used for the same purposes that other equipment is used for at the
site.
(3) (a) An owner of a vehicle shall not permanently attach to the vehicle
mounted equipment unless:
(I) The owner applies for registration of the mounted equipment to the
authorized agent in the county where the equipment is required to be registered
within twenty days after the equipment is mounted to the vehicle; or
(II) The mounted equipment is power takeoff equipment.
(b) The 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.
(6) (a) If a vehicle and the equipment mounted on the vehicle are the same
model year:
(I) The owner of the vehicle and the mounted equipment may register both as
Class F personal property; or
(II) The owner of the vehicle may register the vehicle as Class A, Class B,
Class C, or Class D personal property and the mounted equipment may be
registered as Class F personal property.
(b) If a vehicle and the equipment mounted on the vehicle are different
model years:
(I) The owner of the vehicle shall register the vehicle as Class A, Class B,
Class C, or Class D personal property; and
(II) The owner of the vehicle shall register the mounted equipment as Class F
personal property.