Tax Bills Increasing As Used Car Prices Rise
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Because of increased demand in the used car market, some Connecticut property taxpayers are seeing the assessed value of their vehicles rise, even though the car is a year older, and likely has more mileage and wear and tear.
Charles Danna heads the Connecticut Association of Assessing officials, and is the assessor in South Windsor.
“When you look at some of the classic Toyota and Honda vehicles, which have a reputation of having good repair and maintenance histories and good mileage, you may see some of those vehicles showing an increase,” Danna said.
Connecticut law dictates that car taxes are based on 70 percent of the average retail value of a given vehicle the prior October.