Car Tax Savings for Waterbury
We are pleased the car tax, one of the most regressive in the state, has been addressed in the recently passed budget. Waterbury residents, and many city residents across the state, pay a much higher tax rate on their automobiles. We will finally some relief on this onerous tax.
Waterbury tax payers can expect to save hundreds of dollars in the coming years as a result of a statewide mill rate cap of 32 mills in 2016, and 29.36 mills in 2017. This same law will also ensure that Waterbury does not lose any revenue due to the change in the amount of car taxes collected by pledging 0.50% of the annual State sales tax to the towns in our State.
Below is a chart that demonstrates, for comparison purposes, the cost of the current and the new mill rate for taxpayers with some of the most popular cars.
