Motor Vehicle Tax Values

Legislative changes for the 2024 grand list requires assessors to use Manufacturers Suggested Retail Price less depreciation to value motor vehicles for the first time. This was in an effort to decrease taxes over time. This caused the motor vehicle portion of the grand list to drop 10.8% in value due to the accelerated depreciation schedule. The State of Connecticut is offering a solution to ease the loss in value to the motor vehicle grand list. The Town of Tolland is considering adopting this local option passed by Governor Lamont on March 3, 2025 to implement a revised depreciation schedule.  To read the legislative bill in its entirety, please click here.