Date: Fri 26-Jul-1996

Publication: Bee

Author: KAAREN

Quick Words:

tax-assessment-cars

Full Text:

That Old Jalopy May Be Worth More This Year

Drivers of many older cars probably will be surprised to learn that their

vehicles actually are worth more this year than they were last year.

That's the opinion of the National Automobile Dealers Association, which

assigns values to cars. NADA decided last October that the increasing demand

for used cars is forcing up prices and values for many models.

The 1996-97 tax bills that drivers in Connecticut have been receiving in the

past month are based on the October 1995 NADA guidebook values. For thousands

of drivers across the state that has meant an increase in their tax bills.

Newtown residents, for the most part, have been fortunate. Because of the

recent property revaluation, there's a lower mill rate for cars this year.

"We've had a very few calls about car tax assessments - nothing significant,"

said Newtown Tax Assessor Mark DeVestern.

Unlike real estate, which is revalued only every 10 years, car values are

updated every year, he explained. So when the tax rate dropped from 32 to 25

mills in the revaluation, most car tax bills when down.

Mr DeVestern said he couldn't recall exactly which models of used cars had

significantly higher values this year.

"In the past there have been some four-wheel drive vehicles that increased

because of their popularity, and Harley Davison motorcycles," he said. "For

for most people this year their assessments went down and therefore their car

taxes went down."