Middletown council adopts modified vehicle depreciation schedule to reduce projected revenue loss

The Middletown Common Council voted unanimously on March 20, 2025, to apply a modified motor-vehicle depreciation schedule authorized by recent state legislation, directing the assessor to republish the city's grand list by April 15, 2025.

Assessor Damon Brash told the council the state's switch, effective with the Oct. 1, 2024 grand list, from market-value vehicle assessments to manufacturer's suggested retail price (MSRP) less a statutorily prescribed depreciation table led Middletown to lose about $53,000,000 in assessed motor-vehicle value. Brash said the state set a depreciation range that starts at 85% of MSRP for newer vehicles and goes to a minimum of 15%, with a $500 floor for any vehicle's assessed value.

Brash said the new municipal option lets cities adopt a 5-percentage-point adjustment to the depreciation schedule. "That small change, we estimate, will add back about 35 to $38,000,000 in assessed value," Brash said, which he described as reducing the grand-list decline from roughly 1% to about 0.3% under otherwise similar conditions.

Councilman Nocera read the resolution for the council and moved its approval; the motion was seconded by Councilman Ford. The resolution as read directed the assessor to apply the modified depreciation schedule set forth under the cited state acts and to republish the motor-vehicle grand list no later than April 15, 2025. Mayor Mara opened the public hearing and closed it after noting there were no public commenters.

Councilwoman Blackwell raised a procedural point asking whether staff presentations during a special meeting were appropriate when not listed on the posted agenda. Kelly Scott, responding for staff, said answering questions and providing context for an agenda item did not constitute a separate workshop or unauthorized action and was consistent with the council's agenda for the special meeting.

The council then took a voice vote. Members present responded "aye," and Mayor Mara declared the resolution passed unanimously. The council adjourned the special portion of the meeting for a 10-minute break; the assessor's office was directed to proceed with the republishing task specified in the resolution.

The ordinance and republishing are procedural steps to implement the state-authorized adjustment; the resolution does not itself amend state law. Key dates referenced in the council discussion include the Oct. 1, 2024 grand list effective date for the statewide valuation change and the council's April 15, 2025 deadline for republishing Middletown's grand list under the new schedule.