Bill > HB05033

This bill proposes to raise the sales price threshold for motor vehicles that are subject to a higher sales and use tax rate of 7.75%. Currently, motor vehicles priced above a certain amount are taxed at this higher rate, and the bill seeks to increase this threshold to more than $75,000. In practical terms, this means that motor vehicles with a sales price below $75,000 would likely be taxed at a lower rate, potentially providing some tax relief for consumers purchasing less expensive vehicles. The bill amends Chapter 219 of the general statutes to implement this change, which could help make vehicle purchases more affordable for a broader range of consumers by reducing the tax burden on moderately priced vehicles.

Budget and Finance

https://www.cga.ct.gov/asp/cgabillstatus/cgabillstatus.asp?selBillType=Bill&bill_num=HB05033&which_year=2025