STAMFORD, Conn. — Board of Finance members are questioning how Stamford is supposed to make up lost revenue if Gov. Dannel Malloy's proposed car tax exemption is approved.
Mary Lou Rinaldi said, “It doesn’t seem fair to property owners,” who will be expected to make up the difference. She added that the revenue from car taxes is used across several different areas of the city budget.
“You’re going to have to make up the difference somehow,” she said.
David Martin said he wants to see the details of the governor’s proposal since he would like to lower taxes, but not if it means increasing them elsewhere to make up the lost revenue.
Under Malloy's proposal, cars valued at less than $28,500 would be exempt from local property taxes, a release said. Towns and cities will have the option of implementing the exemption in July 1, 2013, before it goes into effect throughout Connecticut in 2014, the release said.
The proposed exemption would provide relief to middle-class citizens and would include private and commercial vehicles, the release said. The exemption would cost the state $560 million in revenue, according to Connecticut Post.
The governor’s proposal prompted numerous comments on The Stamford Daily Voice’s Facebook Page.
“The best thing I ever heard Malloy come up with,” Sandy Smeriglio said.
“I think it's a great idea. They do it in Florida,” John Brucato said.
But others were leery of the idea, expecting they would have to come up with the difference.
“I smell a bait and switch ... watch your wallet,” Jennifer Bernardelli said.
“I agree, but with some sort of suspicion, and what is Malloy up to with this so-called gift to the poor and middle-class people?” Donna Smyle said.