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Issue Briefs

The Specific Ownership Tax

Subjects
Fiscal Policy & Taxes
Transportation & Motor Vehicles
Published
02/07/2017

This issue brief provides an overview of the specific ownership tax (SOT), which was enacted in 1937. SOT is assessed on motor vehicles annually and is calculated based on a vehicle’s value and age. Exemptions are made for government vehicles, agricultural machinery, mobile homes, and vehicles owned by military personnel and certain veterans.