OKLAHOMA CITY - The Oklahoma State Senate will vote on a bill Monday that would slash the cost of tags for Oklahoma vehicles. That's according to Senator Jim Maddox, Senate author of HB 2663.
"I've requested a floor vote for this Monday, April 17th on HB 2663. We've been getting great feedback from Oklahomans about this bill. They're anxious for the Governor to sign it into law so they can begin enjoying much cheaper tags," said Senator Maddox.
If HB 2663 were signed into law, Oklahomans would enjoy some of the cheapest car tags in the nation. Under this legislation, the flat tag fees would simply be based on the age of the vehicle. For example vehicles five years old or less would have tags that cost $85. Those between six
and ten years of age would cost $45. Any vehicle older than ten years would have a $15 tag.
"I can't emphasize enough how good a deal this will be for Oklahoma drivers. Right now if you bought a new car for $25,000, you would have to pay $321 for a tag. Under HB 2663, that same tag would cost you $85. That's a savings of $236; and when that car is six years old, that tag would cost you only $45. If HB 2663 isn't passed and signed into law, you'll have to pay $196 for that tag. Obviously this is something the people of this state should really be supporting," said Senator Maddox.
Although the excise tax will be shifted from 3.25 to 4.5 percent to protect funds for education and road construction, Oklahomans will still save literally hundreds of dollars under HB 2663.
"That's because we will be using a flat fee on tags, and basing the excise tax on the actual sales price, minus any trade-in value, while the current system bases the tax on the sticker price," explained Senator Maddox.
"Even with the adjustment, we still end up with some of the lowest tag and excise fees in the region. The bottom line is, Oklahomans are going to be able to save hundreds of dollars on their tags," said Maddox.
The title has been removed from the bill so that the both chambers can have a final look at the bill after Senate passage. After that the bill will be sent to Governor Keating for his consideration.