Connecticut SB 700: AN ACT CONCERNING PROPERTY TAX EXEMPTIONS FOR MOTOR VEHICLES.

Bill Text

LCO No. 1565 1 of 1

General Assembly Proposed Bill No. 700
January Session, 2025 LCO No. 1565

Referred to Committee on PLANNING AND DEVELOPMENT

Introduced by:
SEN. RAHMAN, 4th Dist.

AN ACT CONCERNING PROPERTY TAX EXEMPTIONS FOR MOTOR
VEHICLES.
Be it enacted by the Senate and House of Representatives in General
Assembly convened:

That the general statutes be amended to allow a municipality, upon 1
the affirmative vote of the municipality's legislative body, to (1) exempt 2
any motor vehicle from property taxation, and (2) increase the tax 3
assessment rate on real property, for a period of not more than five 4
years, to offset any revenue lost as a result of exempting motor vehicles 5
from property taxation. 6
Statement of Purpose:
To allow a municipality to exempt motor vehicles and increase real
property taxes, for a period of not more than five years, to offset any lost
revenue.