NOTICE REGARDING CHANGES TO MOTOR VEHICLE VALUATION – WINCHESTER, CT
Recent changes in state law have affected how motor vehicles are valued for tax purposes in Winchester, starting with the October 1, 2024, assessment year.
Tax bills were mailed on, June 26, 2025, and are due July 1, 2025. Payments must be made by August 1, 2025, to avoid interest charges. To avoid penalties, payments must be received in the Tax Collector’s office by 8/1/25 or placed in the drop box at Town Hall by 12:00 PM on 8/1/25. You may also pay online through the Town’s payment system before midnight on 8/1/25 or mail your payment with a U.S. postmark (no postage meter marks) dated on or before 8/1/25. PHONE PAYMENTS ARE NOT ACCEPTED. Delinquent bills will accrue interest at 1.5% per month starting from the due date (7/1/25). Past due Motor Vehicle/Motor Vehicle Supplement bills will also be reported to the DMV and will incur a $5 fee.
Vehicle Valuation: Previously, vehicle values were set using the NADA/JD Power price guides as of October 1st each year. As of October 1, 2024, assessment, vehicles will be valued by multiplying their original MSRP by a fixed depreciation factor based on age. The depreciation schedule starts at 90% of MSRP for vehicles up to one year old and drops by 5% per year, down to a minimum of 20% for vehicles fifteen years old and older. For vehicles twenty years older, the assessment (not value) cannot fall below $500.
The percentage of vehicle value that is taxable (the assessment) is still set at 70%. The assessment is then multiplied by Winchester’s current motor vehicle mill rate (please check the Town website for the most up-to-date rate) to determine your yearly vehicle taxes. (Value x 70% = Assessment; Assessment x Mill Rate = Taxes.) Vehicles will now be taxed based on this new MSRP and depreciation formula, rather than current market value.
For more details, visit the Town of Winchester website or contact the Tax Assessor’s office during regular business hours.
