{"data":{"id":"us-ct/conn.-gen.-stat.-12-63","jurisdiction":"us-ct","citation":"Conn. Gen. Stat. § 12-63","heading":"Rule of valuation. Depreciation schedules.","body":"(a) The present true and actual value of land classified as farm land pursuant to section 12-107c, as forest land pursuant to section 12-107d, as open space land pursuant to section 12-107e, or as maritime heritage land pursuant to section 12-107g shall be based upon its current use without regard to neighborhood land use of a more intensive nature, provided in no event shall the present true and actual value of open space land be less than it would be if such open space land comprised a part of a tract or tracts of land classified as farm land pursuant to section 12-107c. The present true and actual value of all other property shall be deemed by all assessors and boards of assessment appeals to be the fair market value thereof and not its value at a forced or auction sale.\n(b) (1) For the purposes of this subsection, (A) “electronic data processing equipment” means computers, printers, peripheral computer equipment, bundled software and any computer-based equipment acting as a computer, as defined in Section 168 of the Internal Revenue Code of 1986, or any subsequent corresponding internal revenue code of the United States, as from time to time amended; (B) “leased personal property” means tangible personal property which is the subject of a written or oral lease or loan on the assessment date, or any such property which has been so leased or loaned by the then current owner of such property for three or more of the twelve months preceding such assessment date; and (C) “original selling price” means the price at which tangible personal property is most frequently sold in the year that it was manufactured.\n(2) Any municipality may, by ordinance, adopt the provisions of this subsection to be applicable for the assessment year commencing October first of the assessment year in which a revaluation of all real property required pursuant to section 12-62 is performed in such municipality, and for each assessment year thereafter. If so adopted, the present true and actual value of tangible personal property, other than motor vehicles, shall be determined in accordance with the provisions of this subsection. If such property is purchased, its true and actual value shall be established in relation to the cost of its acquisition, including transportation and installation, and shall reflect depreciation in accordance with the schedules set forth in subdivisions (3) to (6), inclusive, of this subsection. If such property is developed and produced by the owner of such property for a purpose other than wholesale or retail sale or lease, its true and actual value shall be established in relation to its cost of development, production and installation and shall reflect depreciation in accordance with the schedules provided in subdivisions (3) to (6), inclusive, of this subsection. The provisions of this subsection shall not apply to property owned by a public service company, as defined in section 16-1.\n(3) The following schedule of depreciation shall be applicable with respect to electronic data processing equipment:\n(A) Group I: Computer and peripheral hardware, including, but not limited to, personal computers, workstations, terminals, storage devices, printers, scanners, computer peripherals and networking equipment:\nAssessment Year Following Acquisition | Depreciated Value As Percentage Of Acquisition Cost Basis\n |\nFirst year | Seventy per cent\nSecond year | Forty per cent\nThird year | Twenty per cent\nFourth year and thereafter | Ten per cent\n(B) Group II: Other hardware, including, but not limited to, mini-frame and main-frame systems with an acquisition cost of more than twenty-five thousand dollars:\nAssessment Year Following Acquisition | Depreciated Value As Percentage Of Acquisition Cost Basis\n |\nFirst year | Ninety per cent\nSecond year | Sixty per cent\nThird year | Forty per cent\nFourth year | Twenty per cent\nFifth year and thereafter | Ten per cent\n(4) The following schedule of depreciation shall be applicable with respect to copiers, facsimile machines, medical testing equipment, and any similar type of equipment that is not specifically defined as electronic data processing equipment, but is considered by the assessor to be technologically advanced:\nAssessment Year Following Acquisition | Depreciated Value As Percentage Of Acquisition Cost Basis\n |\nFirst year | Ninety-five per cent\nSecond year | Eighty per cent\nThird year | Sixty per cent\nFourth year | Forty per cent\nFifth year and thereafter | Twenty per cent\n(5) The following schedule of depreciation shall be applicable with respect to machinery and equipment used in the manufacturing process:\nAssessment Year Following Acquisition | Depreciated Value As Percentage Of Acquisition Cost Basis\n |\nFirst year | Ninety per cent\nSecond year | Eighty per cent\nThird year | Seventy per cent\nFourth year | Sixty per cent\nFifth year | Fifty per cent\nSixth year | Forty per cent\nSeventh year | Thirty per cent\nEighth year and thereafter | Twenty per cent\n(6) The following schedule of depreciation shall be applicable with respect to all tangible personal property other than that described in subdivisions (3) to (5), inclusive, and subdivision (7) of this subsection:\nAssessment Year Following Acquisition | Depreciated Value As Percentage Of Acquisition Cost Basis\n |\nFirst year | Ninety-five per cent\nSecond year | Ninety per cent\nThird year | Eighty per cent\nFourth year | Seventy per cent\nFifth year | Sixty per cent\nSixth year | Fifty per cent\nSeventh year | Forty per cent\nEighth year and thereafter | Thirty per cent\n(7) (A) Except as provided in subparagraph (B) of this subdivision, for assessment years commencing on or after October 1, 2024, the following schedule of depreciation shall be applicable with respect to motor vehicles based on the manufacturer's suggested retail price of such motor vehicles, provided no motor vehicle shall be assessed at an amount less than five hundred dollars:\nAge of Vehicle | Percentage of Manufacturer's Suggested Retail Price\n |\nUp to year one | Eighty-five per cent\nYear two | Eighty per cent\nYear three | Seventy-five per cent\nYear four | Seventy per cent\nYear five | Sixty-five per cent\nYear six | Sixty per cent\nYear seven | Fifty-five per cent\nYear eight | Fifty per cent\nYear nine | Forty-five per cent\nYear ten | Forty per cent\nYear eleven | Thirty-five per cent\nYear twelve | Thirty per cent\nYear thirteen | Twenty-five per cent\nYear fourteen | Twenty per cent\nYears fifteen to nineteen | Fifteen per cent\nYears twenty and beyond | Not less than\n | five hundred dollars\n(B) For assessment years commencing on or after October 1, 2024, any municipality may, by vote of its legislative body, or in a municipality where the legislative body is a town meeting, by vote of its board of selectmen, elect to apply the following modified schedule of depreciation with respect to motor vehicles based on the manufacturer's suggested retail price of such motor vehicles, provided no motor vehicle shall be assessed at an amount less than five hundred dollars:\nAge of Vehicle | Percentage of Manufacturer's Suggested Retail Price\n |\nUp to year one | Ninety per cent\nYear two | Eighty-five per cent\nYear three | Eighty per cent\nYear four | Seventy-five per cent\nYear five | Seventy per cent\nYear six | Sixty-five per cent\nYear seven | Sixty per cent\nYear eight | Fifty-five per cent\nYear nine | Fifty per cent\nYear ten | Forty-five per cent\nYear eleven | Forty per cent\nYear twelve | Thirty-five per cent\nYear thirteen | Thirty per cent\nYear fourteen | Twenty-five per cent\nYears fifteen to nineteen | Twenty per cent\nYears twenty and beyond | Not less than\n | five hundred dollars\nAny municipality that elects to apply the modified schedule of depreciation described in this subparagraph shall, not later than fourteen days after such election, notify the Secretary of the Office of Policy and Management, in a form and manner prescribed by the secretary, of such election and the first assessment year for which such schedule shall be effective.\n(8) The present true and actual value of leased personal property other than motor vehicles shall be determined in accordance with the provisions of this subdivision. Such value for any assessment year shall be established in relation to the original selling price for self-manufactured property or acquisition cost for acquired property and shall reflect depreciation in accordance with the schedules provided in subdivisions (3) to (6), inclusive, of this subsection. If the assessor is unable to determine the original selling price of leased personal property other than a motor vehicle, the present true and actual value thereof shall be its current selling price.\n(9) With respect to any personal property which is prohibited by law from being sold, the present true and actual value of such property shall be established with respect to such property's original manufactured cost increased by a ratio the numerator of which is the total proceeds from the manufacturer's salable equipment sold and the denominator of which is the total cost of the manufacturer's salable equipment sold. Such value shall then be depreciated in accordance with the appropriate schedule in this subsection.\n(10) The schedules of depreciation set forth in subdivisions (3) to (6), inclusive, of this subsection shall not be used with respect to motor vehicles, videotapes, horses or other taxable livestock or electric cogenerating equipment.\n(11) If the assessor determines that the value of any item of personal property, other than a motor vehicle valued pursuant to subdivision (7) of this subsection, produced by the application of the schedules set forth in this subsection does not accurately reflect the present true and actual value of such item, the assessor shall adjust such value to reflect the present true and actual value of such item.\n(12) For assessment years commencing on or after October 1, 2024, for any commercial motor vehicle (A) that is modified, or (B) to which is affixed an attachment designed, manufactured or modified to be affixed to such motor vehicle, the assessor shall determine whether to value such motor vehicle and any such modifications or attachments to such motor vehicle pursuant to subdivision (7) of this subsection or section 12-41. The assessor shall determine valuation of any modifications or attachments to such motor vehicle based on whether such modifications or attachments are intended to be permanently affixed to such motor vehicle.\n(13) Nothing in this subsection shall prevent any taxpayer from appealing any (A) assessment made pursuant to this subsection if such assessment does not accurately reflect the present true and actual value of any item of such taxpayer's personal property, or (B) determination of the manufacturer's suggested retail price used to value a motor vehicle pursuant to this subsection.","path":["TITLE 12. TAXATION","CHAPTER 203. PROPERTY TAX ASSESSMENT"],"source_url":"https://www.cga.ct.gov/2026/sup/chap_203.htm#sec_12-63","current_through":"Revised to January 1, 2026 (2026 Supplement to the General Statutes of Connecticut, applied over the base revision of January 1, 2025)","vintage":"","retrieved_at":"2026-09-06T19:07:22Z","sha256":"f71284caec96092d93eed81de80fcecf4ebae8719031ae916d5e033c9d27a438","source_id":"us-ct","stale":false,"prev":"us-ct/conn.-gen.-stat.-12-62y","next":"us-ct/conn.-gen.-stat.-12-63a"},"notice":"GroundRules: Original legal text. Not legal advice."}