By SEMA Washington, D.C., Staff
Legislation to lower the property tax on many older vehicles has been introduced in Connecticut.
Legislation to lower the property tax on many older vehicles has been introduced. Under the bill, the personal property tax on vehicles eight years old and older would be changed to a flat tax of $100 per year for vehicles between 8 and 10 years old with an assessed value of less than $10,000, and $50 per year for vehicles 10 years old and older with an assessed value of less than $8,000. Antique, rare and special-interest vehicles may be negatively affected by the bill. These vehicles are currently valued at a $500 assessment, which results in a reduced tax.