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Stratford council adopts modified vehicle-depreciation schedule under House Bill 7067
Summary
Council approved a resolution adopting a modified motor vehicle depreciation schedule after staff said the change would reduce the town’s motor-vehicle grand list decline and smooth tax impacts for homeowners and businesses.
The Town of Stratford Town Council on March 10 adopted a resolution implementing a modified motor-vehicle depreciation schedule under House Bill 7067, a change town staff said will reduce the drop in the motor-vehicle grand list and blunt tax shifts to homeowners and commercial property owners.
Council member Winnham moved the resolution and Council member O’Connor seconded; the measure passed by voice vote. The motion directs the town to adopt the modified schedule for the assessment year commencing Oct. 1, 2024.
Assessor Kathleen Stoffer told the council the state’s new depreciation schedule would reduce the town’s motor-vehicle grand list compared with the prior year, and adopting the modified schedule would make that reduction less severe. “Before the option, the grand list for motor vehicles would be reduced based on the state’s passing of the depreciation schedule,” Stoffer said. She reported the grand list would be roughly $442,000,000 under the original schedule and about $478,000,000 under the modified schedule described to the council, and estimated the difference in tax revenue at roughly $750,000. She emphasized that, either way, motor-vehicle values would be lower than the previous year because of state legislation.
Town staff and councilors framed the change as a smoothing mechanism to prevent a sharp shift of tax burden onto real estate and personal property. A town official explained the legislature’s intent was to make car-tax treatment more uniform across municipalities and to phase in changes so homeowners and businesses would not face sudden increases: “This is about trying to smooth out a cliff,” the official said.
Council members asked for and received a brief summary of taxpayer impacts. Staff said the revised schedule would lower what car taxpayers pay compared with the state’s original schedule and that municipalities statewide were expected to consider the same option.
The council adopted the resolution in a voice vote; the transcript records the motion and a verbal “Aye” for passage but does not record a roll-call tally.
The resolution cites House Bill 7067 as the enabling state action; the council referred implementation details to the assessor and finance staff for inclusion in the upcoming budget-setting process.
