61-3-501. When vehicle taxes and fees are due. (1) Property taxes, new car taxes, and fees must be paid on the date of registration or reregistration of the vehicle.
     (2) If the anniversary date for reregistration of a vehicle passes while the vehicle is owned and held for sale by a licensed new or used car dealer, property taxes abate on such vehicle properly reported with the department of revenue until the vehicle is sold and thereafter the purchaser shall pay the pro rata balance of the taxes due and owing on the vehicle.
     (3) In the event a vehicle's registration period is changed under 61-3-315, all taxes and other fees due thereon shall be prorated and paid from the last day of the old period until the first day of the new period in which the vehicle shall be registered. Thereafter taxes and other fees must be paid from the first day of the new period for a minimum period of 1 year. When the change is to a later registration period, taxes and fees shall be prorated and paid based on the same tax year as the original registration period. Thereafter, during the appropriate anniversary registration period, each vehicle shall again register or reregister and shall pay all taxes and fees due thereon for a 12-month period.

     History: (1), (2)En. 53-159 by Sec. 6, Ch. 74, L. 1975; Sec. 53-159, R.C.M. 1947; (3)En. 53-161 by Sec. 8, Ch. 74, L. 1975; amd. Sec. 2, Ch. 183, L. 1977; Sec. 53-161, R.C.M. 1947; R.C.M. 1947, 53-159, 53-161; amd. Sec. 12, Ch. 712, L. 1979; amd. Sec. 29, Ch. 614, L. 1981; amd. Sec. 22, Ch. 516, L. 1985; amd. Sec. 24, Ch. 611, L. 1987.