Quote:
Originally Posted by WardL
Wow, is Connecticut broke too?
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When the increased assessed valuation of an antique auto registration was first proposed, the rationale used was to raise the amount assessed to represent 2011/2012 dollars, considering inflation over the years. Don't have the year the $500 assessment was first used nor the compounded inflation formula used to equate $500 in year X to $2500 in 2012.
It's been awhile, but if I remember correctly, if a vehicle is not registered as an antique, then the assessed value is the standard valuation used by the Assessors, i.e. HB5405 only applied to vehicles registered as an antique.