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CT SB01208
Bill
Status
3/9/2023
Primary Sponsor
Planning and Development Committee
Click for details
AI Summary
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Delays implementation of motor vehicle property tax assessment changes from October 1, 2023 to October 1, 2024, affecting how municipalities value and tax motor vehicles
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Starting October 1, 2024, motor vehicle values will be based on manufacturer's suggested retail price (MSRP) with a depreciation schedule ranging from 80% in year one down to a minimum value of $500 for vehicles 20+ years old
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Creates two supplemental tax billing periods per year (July 1 and January 1) for newly registered vehicles, replacing the previous single January 1 billing date
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Exempts snowmobiles, all-terrain vehicles, and residential utility trailers from property taxation beginning October 1, 2024, provided they are used exclusively for personal use
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Requires the Commissioner of Motor Vehicles to provide assessors with monthly vehicle registration lists including vehicle identification numbers and MSRP data starting November 2024
Legislative Description
An Act Implementing A One-year Delay To Certain Changes In Statutes Concerning The Assessment Of Motor Vehicles For Property Taxation.
Last Action
Favorable Report, Tabled for the Calendar, Senate
6/2/2023