MOTOR VEHICLE ASSESSMENT CHANGES EFFECTIVE OCTOBER 1, 2024
For the upcoming motor vehicle tax bills due July 1, 2025, Assessors will utilize the Manufacturer Suggested Retail Price (MSRP) of your vehicle and apply the statutory depreciation schedule to calculate the depreciated value of your vehicle.
For examples, as well as the depreciation schedule and CT General Statutes, click here.
Depreciation Schedule pursuant to Section 12-63 of the CT General Statutes:
Age of Vehicle | Percentage MSRP
Up to year one | 85%
Year two | 80%
Year three | 75%
Year four | 70%
Year five | 65%
Year six | 60%
Year seven | 55%
Year eight | 50%
Year nine | 45%
Year ten | 40%
Year eleven | 35%
Year twelve | 30%
Year thirteen | 25%
Year fourteen | 20%
Year fifteen to nineteen | 15%
Year twenty and beyond | Not less than $500
Up to year one | 85%
Year two | 80%
Year three | 75%
Year four | 70%
Year five | 65%
Year six | 60%
Year seven | 55%
Year eight | 50%
Year nine | 45%
Year ten | 40%
Year eleven | 35%
Year twelve | 30%
Year thirteen | 25%
Year fourteen | 20%
Year fifteen to nineteen | 15%
Year twenty and beyond | Not less than $500
ANTIQUE MOTOR VEHICLE ASSESSMENTS
The 2008 session of the General Assembly capped the assessment of antique and collectible motor vehicles 20 years old or older at $500, regardless of the registration status of the vehicle.
To be eligible for the preferential assessment, the motor vehicle must be being preserved for historical interest purposes and it must not have been modified from the manufacturer's original specifications.
If your motor vehicle did not have antique plates issued by the state Department of Motor Vehicles as of October 1, 2009, an affidavit to attest to fact that your 20-year-old motor vehicle meets the legal requirements for the preferential assessment.
The $500 assessment will be applied to the October 1, 2009 Grand List for each signed affidavit received in the Assessment Division office by January 31, 2010.
Affidavits returned after January 31, 2009 will be referred to the Board of Assessment Appeals when they meet in September, 2010. Motor vehicles registered with an antique plate issued by the state Department of Motor Vehicles prior to October 1, 2008 will automatically be assessed at $500. No affidavits are required from the owners of these vehicles.