FAIRFIELD COUNTY, Conn. — Cars valued at less than $28,500 would be exempt from local property taxes under a budget proposal Wednesday afternoon from Gov. Dannel Malloy.
"Towns and cities will have the option of implementing the proposal on July 1, 2013," before statewide implementation in 2014, according to a statement from the governor's office.
Malloy's proposed two-year budget cuts nearly $1.8 billion from the current $43.8 billion budget. And according to the Connecticut Post, the revenue loss from the cars would be about $560 million a year.
The proposed exemption would provide relief to middle-class Connecticut families and would include both private and commercial vehicles, Malloy's statement says.
"In addition to lowering costs for state residents, the proposal will also lower costs to municipalities, who will no longer be responsible for collecting the tax," the statement said.
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