Change in Motor Vehicle Valuation Method
The State of Connecticut changed the way assessments are made on motor vehicles
via House Bill 5172 which was then amended in House Bill 7067 (copy attached). The
change was effective on 10-1-2024. The State is using the original MSRP of any car,
truck, motorcycle which is then multiplied by the State derived 20-year life depreciation
schedule which is on page 6 of the attachment. The product then multiplied by 70% to
derive the vehicle assessment. The new method has nothing to do with the ad valorum
valuation method which has been used for the last 3 decades.
