Council adopts personal property tax relief at 14.99% for 2023

Published 6:20 pm Friday, July 28, 2023

The Windsor Town Council voted unanimously July 11 to adopt an ordinance establishing a personal property tax relief percentage of 14.99% for calendar year 2023 personal property tax bills.

On June 13, the council adopted a personal property tax rate of 50 cents per $100 of assessed value for tax year 2023.

“Each year the town adopts an ordinance per the 2005 revisions to the Personal Property Tax Relief Act of 1998,” Windsor Town Manager William Saunders said during the July 11 Town Council meeting. “This year, the property tax relief percentage is 14.99%.”

He noted to council members that he had provided them with the ordinance establishing that percentage for calendar year 2023 against the personal property tax.

The ordinance explains that the 2005 revisions to the Personal Property Tax Relief Act of 1998 changed the method of state reimbursement for personal property tax relief from a variable percentage to a fixed sum of money payable to each locality.

The town of Windsor is required by these amendments and Section 130-53 of its own code to annually establish a personal property tax relief percentage such that the total relief provided to qualifying taxpayers will exhaust the funds to be allocated to the town by the state, the ordinance notes.

The document then makes clear that the percentage of 14.99% has been calculated as sufficient to exhaust the state funds that the town expects the state will allocate to the town for calendar year 2023.

Shortly after Saunders completed his presentation and recommended adoption of the ordinance, Councilman David Adams said, “I make a motion to approve the ordinance establishing the personal property tax relief percentage as read.”

The motion was seconded, and the council voted 6-0 to approve.