Motorists registering their vehicles this summer in Colorado should prepare their wallets for another hit.
Beginning July 1, 2009, registration fees will jump at least $22.50 with some motorists paying an additional $55 as compared to last year.
The fee increases stem from the successful passage of SB09-108 — signed into law by Gov. Ritter March 22. According to state documents, the legislation is intended to provide new funding for transportation improvements totaling $200 million in fiscal year 2009-10 and at least $250 million per year thereafter.
According to figures provided by the Colorado Department of Revenue, the fee schedule is based on vehicle weight and registration rates will undergo incremental increases each year.
For example, the owner of a vehicle weighing 2,000 pounds or less will pay an additional 22.50 in fiscal year 2009-10; $25.75 in fiscal year 2010-11; and $29 in fiscal year 2011-12 and beyond.
Based on the fee schedule, truckers and those driving large “dualie” style pick-ups will take the heftiest hits.
For example, during the same three year period, the heaviest vehicles on state roadways — 16,001 pounds and over — will see their registration fees jump from an additional $55 this year up to an additional $71 in fiscal year 2011-12.
With many pocket books already suffering under a flagging economy, those short on cash who fail to pay their vehicle registrations on time, will face a minimum $25 late fee.
The imposition of the new late fee will apply to motorists registering their vehicles on or after June 1, 2009.
According to staff at the Colorado Department of Revenue, the late fee will double each month with fees reaching $100 for a vehicle registered four months late.
In addition, vehicle owners who move to Colorado from out of state and do not register their vehicles within 90 days of residency will be charged late fees up to $100.