COLCHESTER, Conn. (WTNH) – So why are so many people seeing higher property tax bills for their cars?
The simple answer is because used car values went up an exponential amount during the pandemic.
John Chaponis is the town assessor for Colchester which is one of the 72 towns and cities impacted by the tax cap. He is also the Legislative Chairman for the Connecticut Association of Assessing Officers. He said the reason car tax bills went up is that the value of used cars went up greatly during the pandemic.
His association put together a list showing across the state, motor vehicle values went up an average 26.7% with the highest jump seen in Old Saybrook at 39.7% followed by Bloomfield, Lyme, Lebanon, Litchfield, Glastonbury, and Waterbury. Enfield, Sharon, and Bridgeport share the top 8 spots at 31.9%.
“The bottom line in the whole situation is without the one hundred million their bills would have gone up a lot more,” said John Chaponis.
Kelly Blue Book has seen a drop in some used car prices from the same law that put a cap on motor vehicle tax that calls for determining the value of a car based on depreciation.