In the states of Massachusetts and Rhode Island, bicycles had real license plates in the 1950's. I have a couple. I believe they stopped registering bikes as the trouble was not worth it, possibly it ended up as a cost, and not a revenue. If anyone knows the exact reason I would love to hear it. The police enforcement probably cost more than it was worth.
Do you tax a $50 value bicycle at 10% for $5 a year? The paperwork to register the bike every year probably costs $25.