Bill > HB06314

This bill proposes to modify the existing sales and use tax rate for motor vehicles by increasing the price threshold at which a higher tax rate of 7.75% is applied. Currently, vehicles above a certain price point are subject to this higher tax rate, and the bill seeks to raise that threshold to more than $75,000. By raising this threshold, the bill would effectively reduce the tax burden for consumers purchasing motor vehicles priced between the current threshold and the new, higher $75,000 level. This change means that more expensive vehicles would continue to be taxed at the 7.75% rate, while vehicles priced just below the new threshold would be taxed at a potentially lower rate. The bill is designed to provide some tax relief for consumers buying motor vehicles in the mid-to-high price range, potentially making vehicle purchases more affordable for some buyers.

Budget and Finance

https://www.cga.ct.gov/asp/cgabillstatus/cgabillstatus.asp?selBillType=Bill&bill_num=HB06314&which_year=2025