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Torrington adopts modified motor-vehicle depreciation schedule after assessor outlines impact of HB7067
Summary
The city council approved a local option to adopt a modified motor-vehicle depreciation schedule under House Bill 7067. Assessor Stacy Maldonado told members the change could add about $10 million to the motor-vehicle grand list for 2024 and help avoid shifting tax burden onto homeowners.
At a special joint meeting of the Torrington City Council and Board of Finance, the council voted to adopt the modified motor‑vehicle depreciation schedule described in the assessor’s memo dated 02/27/2025, exercising the local option provided in House Bill 7067 (HB7067) that affects valuation for the 2024 grand list.
Stacy Maldonado, Torrington’s assessor, explained the legislation and the new valuation method. She said HB7067 has four parts, including “the transfer of ownership on bankrupt hospitals,” changes “affecting the assessment of motor vehicles for the current grand list, the 24 that was just signed,” adjustments for veterans with permanent and total disability, and “some funding for special education.” On motor vehicles she said: “Prior, we were using NADA book…
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