MOTOR VEHICLE VALUATION PROCEDURES ARE CHANGING FOR THE 2024 GRAND LIST

Starting with the 2024 Grand List, ALL motor vehicles, registered and unregistered, will be valued using the MSRP (Manufacturers Suggested Retail Price).  Vehicles will be assessed on a declining percentage of the MSRP, starting in year 1 at 85% of the MSRP and declining to 15% in years 15-19 and thereafter, but no lower than 500.  There will be no adjustments for condition, high mileage or salvage or rebuilt titles.  These changes were passed during the June 2024 Special Session of the CT State Legislature.  The intent of the legislation is to ensure that vehicle assessments decline over time. 

If you have a vehicle 20+ years of age and it does not have a Class 25 (Early American) registration, it will be assessed based on the MSRP.  If a vehicle is 20+ years old and is not registered as a Class 25, owners will have to apply for a reduced assessment under CT General Statutes (CGS) 12-71(b) and meet the definition of an Antique, Rare or Special Interest motor vehicle under CGS Section 14-1(3): 

"Antique, rare or special interest motor vehicle" means a motor vehicle twenty years old or older which is being preserved because of historic interest and which is not altered or modified from the original manufacturer's specifications.”

A form is available in the Assessor’s Office and on the Assessor’s page of the town website under the Exemptions tab.

A summary of the changes can be found in a summary provided by the CT Office of Policy and Management, found here.  This is new for the Assessor’s Office and the public, and we ask for your patience.