AN ACT AUTHORIZING MUNICIPALITIES TO EXEMPT MOTOR VEHICLES FROM PROPERTY TAXATION.

SB 1445 allows towns to pass local ordinances exempting cars from property tax, directly affecting car owners in those municipalities. To offset lost revenue, towns must gradually increase assessment rates for other property (like homes and businesses) over up to five years. The bill requires towns to notify the state within 30 days of adopting the exemption and report annual details to the legislature. This change takes effect October 1, 2025, and does not require state funding.