CT SB01445

Municipalities may exempt motor vehicles from property taxation by adopting a local ordinance through their legislative body or board of selectmen, effective October 1, 2025

Municipalities adopting the exemption may phase it in over up to 5 years, offsetting revenue loss by increasing the assessment rate on real property and other personal property

Municipalities must notify the Secretary of the Office of Policy and Management within 30 days of adopting an exemption ordinance, specifying the effective assessment year and selected tax rates during the transition

The Secretary of OPM must submit annual reports to the General Assembly starting January 1, 2027, detailing municipalities that have adopted motor vehicle tax exemptions, including recommended legislative changes

Amends Section 12-62a to exempt municipalities with motor vehicle tax exemption ordinances from the standard 70% uniform assessment rate requirement