Connecticut proposes 400% tax increase on collector car owners

PROPOSED 400% TAX INCREASE FOR CONNECTICUT ANTIQUE CAR OWNERS WOULD HAVE NEGATIVE OVERALL ECONOMIC IMPACT

Connecticut Legislature Targets 1% of State Population in Move to Increase Tax Revenue

Traverse City, Mich. (April 15, 2011) – The Connecticut State Legislature is actively considering a bill targeted at collector car owners that would result in a 400% tax increase on the personal property taxes paid for antique vehicles. This move would raise the personal property tax cap from $500 to $2500 for each registered antique car. The Historic Vehicle Association, an organization dedicated to protecting the rights of collector car owners, opposes this bill.

“We feel this bill is unfair and discriminatory, won’t accomplish its goal, and could cost more in the long run by losing jobs and reduced economic activity,” says Carmel Roberts, Director of Government Relations for the Historic Vehicle Association. “The negative impacts caused by this proposed tax far outweigh any potential benefit.”

The negative impacts of this proposed tax are as follows:

• This 400% tax increase focuses on one percent of the population potentially causing an antique vehicle owner to pay more vehicle tax than household property tax.

• This attempt to raise $2 million for local municipalities could potentially cost the state money through deferred registration of antique vehicles where people are tempted to register their cars in other states or sell their antique vehicles outright.

• Nationally, antique car owners spend $35 billion each year and donate more than $59 million to charitable organizations. Connecticut car clubs host hundreds of events each year and support for these events, charities and local business revenue could suffer or completely disappear. Less antique car use would have a negative overall economic impact in the State of Connecticut.

The Historic Vehicle Association urges everyone to contact Connecticut State Legislators to encourage them to oppose House Bill 5580. Contact information can be found at www.historicvehicle.org/Help-Stop-CT-Tax-Increase.

The Historic Vehicle Association (HVA) is a 320,000-member organization devoted to all types of vintage vehicles in the United States and Canada.  The mission of the HVA is to keep Yesterday’s Vehicles on Tomorrow’s Roads by establishing a collaborative, unified platform among the historic vehicle enthusiasts and supporting the various organizations, institutions and activities that enable us to enjoy historic motoring. Founded in 2010 by Hagerty Insurance, the world’s leading provider of Collector Car Insurance, membership to the HVA is open to any person interested in the preservation of vintage vehicles.  For more information, please visit www.historicvehicle.org.

2 thoughts on “Connecticut proposes 400% tax increase on collector car owners

  1. Jorn Jensen

    Just remember what led to the Declaration of Independence from England in 1776. Bigger and bigger government has to be fed by someone until that someone has had enough. Slipping in a 5% increase is not newsworthy, but try 400% and the tax man will have a tough task. Unbelievable!

  2. Joe Fontanazza

    Two thoughts:
    First & Foremost – if they’ve served one term in any elected office, vote-em out BEFORE they start doing damage. Had your chance last November and blew it.

    Second – No discrimination allowed. Make them tax ALL personal property, that keeps everyone in the loop. Today’s family car is a potential collectable, how about boats and other "toys", art collections, heck even furniture and clothing can become valuable in time.

    Jorn Jensen is 100% right, it’s Unbelievable. What’s even more Unbelievable is that WE continue to re-elect these power hungry egomaniacs on both sides of the aisle.

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