TAXES - PROPERTY;

You asked if there is one standard used by tax assessors for all 169 towns in Connecticut to establish the fair market value of automobiles for the purposes of property tax assessment. You also wanted to know if the mileage of the vehicle is a factor when assessing fair market value.

State law requires the Office of Policy and Management (OPM) to recommend the schedule to be used by assessors in each municipality in assessing motor vehicle values for property tax purposes. Each year, OPM issues a letter to assessors recommending the use of the National Automobile Dealers Association, (N. A. D. A) guide in preparation of their Grand Lists not only for automobiles but also for motorcycles, snowmobiles, all-terrain vehicles, personal watercraft, and recreation vehicles (CGS § 12-71d). Although the N. A. D. A. reflects 100% of market value, the assessment, for tax purposes, must be 70% of the recommended values (CGS § 12-62a). According to Frederick Chmura of OPM, mileage is not a factor in vehicle value assessment.

The exception to the use of the N. A. D. A. is for vehicles that have been customized or modified. In that case, OPM directs assessors to assume the responsibility of valuing the vehicle.

MP: eh