Motor Vehicle Valuation Changes

Published on June 23, 2025

Screenshot 2025-06-23 105214.png
  • Per HB 7067, CT law now requires municipalities to value vehicles based on MSRP (new car cost), using a 20-year fixed depreciation schedule with no assessment less than $500.
  • Previously, municipalities valued vehicles based on the NADA-guided fair market value (e.g. used-car prices), which could vary widely and fluctuate based on market trends.
  • HB 7067 also gave towns the option of valuing first year vehicles at 90% of the MSRP and depreciating 5% per year thereafter. This local option was approved by the Manchester Board of Directors during their March 4, 2025, meeting.
Year of Vehicle
 Depreciation Year  Depreciation Scale 
2024/25 1 90% 
2023  2  85% 
2022 3  80% 
2021 4  75% 
2020 5  70% 
2019  6  65% 
2018  7  60%
2017  8  55% 
2016  9  50% 
2015  10  45% 
2014  11 40% 
2013  12  35% 
2012  13 30% 
2011  14  25% 
2010  15 20% 
2009  16 20% 
2008  17 20% 
2007  18 20% 
2006  19 20% 
2005  20 *≥$500
  (*Greater of 20% or $500)



Assessments are based on 70% of the depreciated value

Tagged as:
Back to top