[kidyankee764]

https://www.rep-am.com/local/news-lo...on-homeowners/

HARTFORD - Property tax bills for homeowners could jump 30 percent under Democratic legislation that would eliminate local car taxes. The bill proposes to change how property taxes are calculated from 70 percent of assessed market value to 100 percent to help offset the lost revenue from eliminating car taxes. If the legislation becomes law..

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I know we’ve discussed this before (feel free to move to Economic forum if it better fits there). Thoughts on car tax elimination, and raising property taxes to 100% of assessed value instead of 70%?

I have mixed feelings on it.

[davwve]

Would be a lot more cost advantageous for me, and assuming for the majority to keeps things as-is.

[kidyankee764]

Originally Posted by davwve

Would be a lot more cost advantageous for me, and assuming for the majority to keeps things as-is.

My concern is rents would rise, as landlords would have to push the cost of investment properties to the renter. So those 2-3 family homes in places like East Rock and Black Rock would see a significant rise in rents, whereas they once had the advantage over big apartment complexes run by management companies.

[Mr_250]

I’m not sure I like this.

My parents house (as an example) is $10k per year. A 30% increase would mean an additional 250$/mo. If my math is correct. Their current car tax bill is like $800 bucks a year (old cars).

That would sting for them.

I am not a fan.

[davwve]

Either pay an increase of $3,700 in property tax on my home or $250 - 350 MV property tax. Easy to see in which scenario I would get hosed.

[kidyankee764]

I don’t think property taxes would jump to 100% of assessed value - I think this might be a case of media sensationalism. That being said, even a $500-1000 increase per year could be disastrous for renters on a fixed income, like students and seniors.

[seymourct]

Originally Posted by Mr_250

I’m not sure I like this.

My parents house (as an example) is $10k per year. A 30% increase would mean an additional 250$/mo. If my math is correct. Their current car tax bill is like $800 bucks a year (old cars).

That would sting for them.

I am not a fan.

Same for me ... my 2 older cars taxed about $497 a year total for both .. a 30% increase in my home tax would be almost $2,000 ... as a widow on fixed income raising a kid, that tax hike for me is ridiculous..

[synchem]

Originally Posted by kidyankee764

I don’t think property taxes would jump to 100% of assessed value - I think this might be a case of media sensationalism. That being said, even a $500-1000 increase per year could be disastrous for renters on a fixed income, like students and seniors.

I don't have strong feelings either way but I feel most people would pay less as it stands now. But yea, for seniors, this would hurt a lot as most have older cars, if any at all, and most of the time just one for the household.

[Stylo]

Doesn't seem very Liberal.

Housing is a necessity, a car is not.

I have nice cars and I'd still rather pay the car tax, personally. It also discourages home ownership.

I can't imagine Lamont will support this.

[hvexpatinct]

Disagree with this plan.

When you are on a fixed income in this state, it is a lot easier to drive an older car than to downgrade housing.