CT SB00225

Motor vehicles used exclusively for farming are now explicitly included in the personal property tax exemption for farm machinery, up to $100,000 in assessed value.

Exemption applies to farm machinery and motor vehicles owned by individual farmers, groups of farmers, partnerships, or family-held corporations (where a majority of stock is held by family members actively engaged in farm operations).

Horses and ponies used exclusively for farming also qualify for the exemption.

Only one exemption is allowed per farmer, group of farmers, partnership, or corporation.

Effective October 1, 2024, and applies to assessment years commencing on or after that date.