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Fees & Taxes
Specific ownership taxes are based on the year of manufacture of the vehicle and the original taxable value, which is determined when the vehicle is new and does not change throughout the life of the vehicle.
Ownership Tax
Ownership tax is in lieu of personal property tax. The tax is assessed for the time period, which an individual owns the vehicle. Vehicles do not need to be driven in order to be assessed this tax. For an approximate figure of the ownership taxes for 12 months you may use the following schedule:
| Year of Service | Tax Rate |
|---|---|
| Year 1 | 2.1% of taxable value |
| Year 2 | 1.5% of taxable value |
| Year 3 | 1.2% of taxable value |
| Year 4 | 0.9% of taxable value |
| Year 5 through 9 | 0.45% of taxable value or $10, whichever is greater |
| Year 10 or more | $3 |
Back Ownership Taxes
When purchasing a vehicle, there can also be some back ownership tax based on the purchase date. Taxes are figured from the date of purchase and includes the next twelve months forward at time of registration.
Sales Tax
Elbert County has the CO State Sales Tax of 2.9% and a County Sales Tax of 1%. Sales Tax in the town of Elizabeth is 4%.
Note About Plates
Colorado plates remain with the customer, not the vehicle. If a vehicle is sold or traded, license plates should be removed and a pro-rated portion of that registration fee may be credited toward a new vehicle purchase or the renewal of another vehicle registered in the same name, provided the registration is not expired at the time the credit is applied for.