Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Taxation topic
No spam. Unsubscribe anytime.
Seymour board adopts resolution to align with state’s new motor-vehicle depreciation schedule
Summary
The Board of Selectpersons voted 6-0 to adopt a resolution implementing the modified vehicle depreciation schedule set out in House Bill 7067, a change the board said will soften an expected drop in the town’s grand list and reduce immediate fiscal shock to municipal revenues.
The Seymour Board of Selectpersons voted unanimously to adopt a resolution authorizing the town to apply the modified motor-vehicle depreciation schedule provided by House Bill 7067 for 2024 assessments.
Town counsel explained the state recently moved from market-value vehicle assessments to a formula-based approach and enacted HB 7067 on March 3, 2025. The change reduces vehicle valuations more gradually than an immediate market-based drop, and the board was urged to adopt the modified schedule to cushion the town’s grand list decline.
Richard Bera, the town attorney, told the board municipalities that do not adopt the modified schedule risk a substantial drop in their grand lists and associated fiscal impacts. He said many nearby towns have already adopted similar resolutions and that Seymour’s grand list had already seen a sizeable reduction tied to the change in valuation. The counsel described the modified schedule as a state-led, phased approach intended to soften the transition.
Board members discussed the local effects: officials said the change will reduce motor-vehicle tax collections but will return a portion of previously lost valuation to the grand list, citing an estimate of roughly $200,000 in restored valuation for Seymour (officials characterized that figure as approximate and did not present a certified estimate in the meeting record). The board also noted the change may allow the town to reduce the motor-vehicle mill rate while preserving broader taxable value.
Trish moved the resolution and the board voted 6-0 to adopt it. The board’s action instructs town assessors to adjust vehicle valuations in accordance with HB 7067’s schedule for the referenced assessment year and notifies state officials as required.
The resolution responds to an unexpected state timetable, the board said; board members and counsel urged coordination with assessors and OPM and noted the April 15 notice deadline to the Office of Policy and Management.
Next steps: the board directed staff to file the adopted resolution with state offices and coordinate valuation updates with the assessor’s office.
