Connecticut: Registration, Inspection & Emissions

[Cashburn]

Something to add to this discussion... how are the towns handling the property tax calculation each year? I get this question often and the answer is varied...

[RENEW1]

In my town, Tolland, Ct. in year 2000, I got a call from the accessors office asking mewhat my Cobra was worth. I Have no idea if they had anything from DMV or were just double checking. I gave them the amount on the ERA sales slip. The bad thing about it is they did not depreciate the car every year for the 4 years I had it! Not sure what will happen when I register my new Cobra.

[Don]

In addition to:

Connecticut: Registration, Inspection & Emissions

There have been additional CT Threads in the Registration Forum

Connecticut registration - older replica

New member from CT

!! Passed CT. Inspection & Reg Today !!

2007 Connecticut Emissions Requirements

CT.Reg Question

CT. Registration Trailering

CT. registration question

In total, 8 Threads, 391 replies and 17,170 Views. Thanks to Brent for establishing the Forum as the CT owners have been able to share our experiences, suggestions and recommendations as well as communicating on other CT DMV & Emissions topics

[Don]

A letter to the Editor of the Manchester CT Journal Inquirer mentioned a Sales Tax policy I was not aware of.

If the vehicle is purchased from a private party, the Sales Tax is calculated based upon the market value source used by the DMV, not the amount listed on the Bill of Sale. In the example, the vehicle had been purchased from a non-profit organization at below market value. Bill of Sale was notarized. Buyer had to pay the Sales tax based upon the DMV market value which was higher.

Mentioned was the buyer could apply for a partial refund based upon the Bill of Sale amount by contacting the Dept of Revenue Services and submitting the paperwork, seller has to sign the document.

Does not apply if the seller is a licensed dealer. There was no mention of what happens when the private party purchase price is higher than the source used by the DMV, which was not specified

An unknown is how the DMV would value a Cobra replica for Sales Tax purposes vs the actual sales price.

Anyone have any experience or a correction to the points mentioned in the letter ?

[davids2toys]

Registered mine last summer, charged me sales tax on the price list on the bill of sale which was 7000.00

[Don]

Was the make/model on the Bill Of Sale listed as Unique Motorcars ? If so, the DMV , as a guess, would probably not have Unique in their reference for determining market value.

Another unknown to me, how does the Tax Assessors assign value for the property tax considering all the different makes etc ? For a pre-owned Cobra or a first time registration, the Bill of Sale amount is used for determining the tax assessment ?

[davids2toys]

Not sure, I think it did say Unique.
Just got my first assessment, it is 7000.00. I know it is supposed to be 70% of the value, but I am not going to question it and open up a can of worms, I am still ahead of the game.