[mtb2008]

I was on the CT DMV website, and it says that there is a property tax on all vehicles. The website stated that the tax was "based on an asessment of 70% of the vehicle's value." Can anyone clarify for me just how much tax I can expect to pay? My current vehicle is worth about $20,000.
Thanks,
Matt

[ambarstone]

It will depend on the mil rate of the town you live.
70% of your car value is $14,000, so as an example, if the mil rate of your town is $17.50 (per thousand of value), you would multiply 14X17.50 and that would equal $245. I understand you can pay over several payments.

[Rich Lee]

Originally Posted by ambar371

It will depend on the mil rate of the town you live.
70% of your car value is $14,000, so as an example, if the mil rate of your town is $17.50 (per thousand of value), you would multiply 14X17.50 and that would equal $245. I understand you can pay over several payments.

Some jurisdictions offer bi-annual or even quarterly payments. Most require it to be paid in one installment. For your convenience, they'll gladly take VISA or MasterCard.

[tom62]

Vehicle property tax: yep this is one of the things I love MOST about Ct!! Your fun has only just begun. Wait till your vehicle assesment. They pull some of these numbers right out of their a--. My town sends the bills out July, due by August 1st. I am an automotive hobbyist/enthusiast. My trade knowledge far exceeds what anyone on the town tax board could ever comprehend about actual resale or wholesale values. They are rarely 100% accurate when cross checking vehicle info.
Be sure you check online with both NADA and the Kelley Bluebook to get a WHOLESALE value of your vehicle. Be honest with actual condition, equipment as ordered from the factory, and mileage. If the figures dont line up with what the so called "Taxperts" figured they could rheem you for be ready to provide proof right off the internet .
Im not being cynical. Its just flat out wrong. You paid vehicle tax the day you purchased new. If used, you paid the day you registered the thing. The Governor has been trying to rid us of this rediculous tax since last year.

[shorelinect]

Depends on your city/town. Get the mill rate from the assessors office first then multiply it by 70% book. Greenwich with low mill rate is nothing other town you'll pay up the nose.

[mtb2008]

Thanks for your responses. To clairfy- is a millrate the same whether it is real estate, property, or personal tax? Or, are there different millrates depending on what is being taxed? I appreciate the help!

[Srib]

No - mill rates vary by town, not by what us being taxed. Thanks!

[Rich Lee]

Originally Posted by mtb2008

Thanks for your responses. To clairfy, is a mill rate the same whether it is real estate, property, or personal tax? Or, are there different mill rates depending on what is being taxed? I appreciate the help!

Personal tax, or, more appropriately, personal income tax, is something totally different.

Real property and personal property taxes are charged at the same mill rate. Real property tax is on real estate; personal property tax is on automobiles, boats, and motorcycles. For businesses, its scope is broadened to include computer equipment, carpeting, furniture and fixtures, etc. I believe the livestock head tax has been repealed.