61-3-503. Assessment — definition. (1) (a) Except as provided in 61-3-520, light vehicles subject to a local option motor vehicle tax under 61-3-537 must be assessed the tax as of the first day of the registration period, using the depreciated value of the manufacturer‘s suggested retail price as determined in subsection (2).

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Terms Used In Montana Code 61-3-503

  • Department: means the department of justice acting directly or through its duly authorized officers or agents. See Montana Code 61-1-101
  • Light vehicle: means a motor vehicle commonly referred to as an automobile, van, sport utility vehicle, or truck having a manufacturer's rated capacity of 1 ton or less. See Montana Code 61-1-101
  • Manufacturer: includes any person engaged in the manufacture of motor vehicles, trailers, semitrailers, pole trailers, travel trailers, motorboats, sailboats, snowmobiles, or off-highway vehicles as a regular business. See Montana Code 61-1-101
  • Motor vehicle: means :

    (i)a vehicle propelled by its own power and designed or used to transport persons or property on the highways of the state;

    (ii)a quadricycle if it is equipped for use on the highways as prescribed in chapter 9; or

    (iii)a golf cart only if it is equipped for use on the highways as prescribed in chapter 9 and is operated pursuant to 61-8-391 or by a person with a low-speed restricted driver's license. See Montana Code 61-1-101

  • Vehicle: means a device in, on, or by which any person or property may be transported or drawn on a public highway, except devices moved by animal power or used exclusively on stationary rails or tracks. See Montana Code 61-1-101

(b)If the depreciated value is less than $500, the department shall value the motor vehicle at $500.

(2)(a) Except as provided in subsections (2)(c) and (2)(d), the depreciated value for the taxation of light vehicles is computed by multiplying the manufacturer’s suggested retail price by a percentage multiplier based on the type and age of the light vehicle determined from the following table:

Age of Vehicle Type of Vehicle