Lt. Gov. Susan Bysiewicz joined Middletown Mayor Ben Florsheim and other local officials Monday to highlight the impact of the governor’s tax cut proposal, which includes a series of tax cuts that would provide approximately $336 million in relief for state residents. From left are Common Council Minority Leader Phil Pessina, Bysiewicz, Florsheim and Tax Assessor Damon Braasch.

MIDDLETOWN — Lt. Gov. Susan Bysiewicz joined Middletown Mayor Ben Florsheim and other local officials Monday at City Hall to highlight the impact of Gov. Ned Lamont’s tax cut proposal.

It includes a series of tax cuts that would provide approximately $336 million in relief for Connecticut residents, according to a news release.

One facet of the proposal would lower the mill rate cap on motor vehicle property taxes from 45 mills to 29 mills, and reimburse local governments for the resulting revenue impact, the press release said.

A 29-mill cap on all motor vehicles would provide property tax relief for over 1.7 million vehicles in 103 towns and cities, including 20 of the 25 distressed municipalities. This would continue to apply to passenger, commercial and combination vehicles.

“This proposal would be helpful not only to the families of Middletown, but to businesses here as well,” Bysiewicz said in a prepared statement. “This proposal would benefit businesses that rely heavily on commercial vehicles and the transportation of goods. They will see relief with their car taxes, which will be money they can reinvest into their companies. This tax relief will be an economic driver for local businesses big and small.”

Along with the capping of mill rates, Connecticut residents could see the restoration of full eligibility for the property tax credit beginning in income year 2022, expanding the credit to all adults in the state. Currently, those 65 and older or those with dependents qualify, the statement said.

If passed, the proposal would restore eligibility of the property tax credit to all households within income limits and would boost the credit from $200 to $300. This is estimated to have a direct impact on 1.1 million residents.

“Right now, if you are in Middletown and drive a Honda Civic, Ford F-150 or whatever vehicle you own, you’re paying more in property taxes on that car than some of the wealthiest towns in our state,” Florsheim said in the statement. “Now is the time to help out our working and middle-class people and families by capping these rates.”

“Due to issues with the pandemic and supply chain issues, motor vehicle values have risen by over 25 percent or more,” Tax Assessor Damon Braasch said in the release.

“The capping of the mill rate will help to offset that dramatic increase of motor vehicle values and keep taxes at a relatively stable amount. Otherwise, with the inequity in taxes are on local mill rates, we must assess vehicles the same whether we are in Hartford, Glastonbury, Greenwich or Middletown,” he added.