Not all Ferraris are created equal.
Take a 1967 330 GTC model owned by Republican gubernatorial hopeful Tom Foley, which has a listed value of $281,000 on the Greenwich tax rolls.
Foley’s car and motorcycle collection might make you envious, but his tax bill might. Last year, Foley paid $2,157 in taxes on that Ferrari, but if he lived in some cities around southwest Connecticut, he’d be paying twice or three times as much.
Despite this, he’s proposing Connecticut cap car taxes at 30 mils. Foley would use $30 million in health care savings and other unspecified budget efficiencies to reimburse municipalities for the lost car tax revenue.
The proposal would not benefit Foley at all. Ironically, it would actually help his rival Malloy, who pays far more tax on his three mid-priced sedans registered in Hartford than Foley pays on nine cars and motorcycles registered in Greenwich.