State Representative Raghib Allie-Brennan, a Democrat representing District 2 which includes Bethel and parts of Danbury, recently announced changes to the state’s tax law that will benefit many car owners.
Under recently passed legislation, the assessment of cars for tax purposes will be based on the manufacturer’s suggested retail price (MSRP). Previously, values set by JD Power and associates were used, which use multiple factors to assess the overall value of the car rather than the price paid for it.
According to Allie-Brennan, this could represent significant savings for residents in his district. Bethel residents will see an average reduction in their car taxes of over 9 percent while Danbury residents will see a 10.79 percent drop on average.
However, luxury cars, which usually depreciate in value rapidly, may see their tax assessments increase.
“Compared to the status quo, most car owners in Bethel and Danbury will see their assessments
fall, with the average car having an 8% lower assessment,” said Allie-Brennan. “This is a
huge benefit for our community. Relief for our residents and a much fairer tax system is what
this whole idea is about.”
