AN ACT CONCERNING THE ASSESSMENT OF CERTAIN MOTOR VEHICLES.
PUBLIC HEARING 0227
Summary
The bill creates a uniform schedule that reduces a vehicle’s assessed value each year based on its manufacturer’s suggested retail price, never dropping below $500. Municipalities may choose a steeper depreciation schedule by vote and must notify the state. It affects all motor‑vehicle owners and local tax authorities by defining how vehicle values are calculated for property taxes starting in 2026.
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