(WETHERSFIELD, CT) – Today, Lt. Governor Susan Bysiewicz held a press conference at the Wethersfield Department of Motor Vehicles with Commissioner Magubane, Deputy Commissioner Anthony Guerrera and local Wethersfield officials to highlight the impact of the Governor’s motor vehicle property tax cut. The capping of mill rates was part of the recently passed tax cut package, which included a series of tax cuts that would provide approximately $600 million in relief for Connecticut residents – the largest tax reduction in Connecticut’s history.
A component of the larger tax cut package, property taxes on motor vehicles will be reduced in 75 cities and towns by capping mill rates at 32.46 and reimbursing the municipalities for the lost revenue. For example, if a town has a mill rate of 52, motor vehicle owners will pay a rate of 32.46 and the state will reimburse that town for the remainder.
“The Governor’s tax cut package will have a direct impact on Connecticut residents, municipalities and businesses, especially medium and small, during a time when they need it most,” said Lt. Governor Susan Bysiewicz. “At a time when our country is experiencing high levels of inflation, there is no better time to provide some relief to Connecticut residents. The dollars saved will allow for more money to be reinvested back into businesses, benefiting both customers and employees across our state, and municipalities will be able to use reimbursed revenue to invest back into their communities.”
Tax cuts in the package include suspending Connecticut’s excise tax on gasoline through November 30, 2022, increasing the property tax credit from $200 to $300, and speeding up a plan to eliminate taxes on pensions and annuities. In addition, bus fares on all public buses statewide will continue to be suspended until December.
“I want to thank the Governor and Lt. Governor for their commitment to keeping our residents informed on the steps we are taking to bring some financial relief to our communities,” said State Representative Amy Morin Bello. “This tax break will bring relief to residents in 75 cities and towns, including Wethersfield, and many of Connecticut’s bigger cities. These are places where residents have been burdened by higher motor vehicle taxes for years. This tax cut will help to bring equity to those who need it most.”
In addition to making groundbreaking investments in childcare, crime prevention, environmental protection, and caring for our state’s most vulnerable populations, the tax cut package provides relief specifically targeted for lower and middle-income families with children.
Families can now apply to receive a state tax rebate of up to $250 per child for a maximum of three children as a result of the recently enacted 2022 Connecticut Child Tax Rebate signed into law by Governor Lamont. The application period for this rebate runs from now through July 31, 2022, with the rebates going out in late August, just in time for the start of the next school year.
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For Immediate Release: Monday, June 20, 2022
Contact: Chelsea Neelon