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Cheshire delays vote on new vehicle-depreciation option, keeps local choice for next year
Summary
Town of Cheshire officials discussed a state-authorized local option to change how the town values motor vehicles for property-tax purposes and agreed not to adopt the change for the coming tax year, leaving the option open for a possible vote next year.
Town of Cheshire officials discussed a state-authorized local option to change how the town values motor vehicles for property-tax purposes and agreed not to adopt the change for the coming tax year, leaving the option open for a possible vote next year.
Town Manager Sean Kimball, who presented the proposal and the numbers, said the state action allows towns to use a sticker (MSRP) baseline and a different depreciation schedule and that “to be clear it’s not generating in our case any additional new money … it is though shifting a little bit of the burden and we calculate that at about $400,000.” He also told the council that, under the state timeline, “you have to take a vote no later than April 15.”
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