(a) Definitions. “Municipality”, whenever used in this section, includes each town, consolidated town and city, and consolidated town and borough.

(b) Motor Vehicles. (1) For assessment years commencing prior to October 1, 2023, no person required by law to file an annual declaration of personal property shall include in such declaration motor vehicles that are registered in the office of the state Commissioner of Motor Vehicles. With respect to any vehicle subject to taxation in a town other than the town in which such vehicle is registered, pursuant to § 12-71, information concerning such vehicle may be included in a declaration filed pursuant to this section or § 12-43, or on a report filed pursuant to § 12-57a.

(2) For assessment years commencing on or after October 1, 2023, any person required to file an annual declaration of tangible personal property shall include in such declaration the motor vehicle listing, pursuant to subdivision (2) of subsection (f) of § 12-71, of any motor vehicle owned by such person. If, after the annual deadline for filing a declaration, a motor vehicle is deemed personal property by the assessor, such motor vehicle shall be added to the declaration of the owner of such vehicle or included on a new declaration if no declaration was submitted in the prior year. The value of the motor vehicle shall be determined pursuant to § 12-63. If applicable, the value of the motor vehicle for the current assessment year shall be prorated pursuant to § 12-71b, and shall not be considered omitted property, as defined in § 12-53, or subject to a penalty pursuant to subsection (f) of this section.

(c) Property included. Confidentiality of commercial and financial information. The annual declaration of the tangible personal property owned by such person on the assessment date, shall include, but is not limited to, the following property: Machinery used in mills and factories, cables, wires, poles, underground mains, conduits, pipes and other fixtures of water, gas, electric and heating companies, leasehold improvements classified as other than real property and furniture and fixtures of stores, offices, hotels, restaurants, taverns, halls, factories and manufacturers. Tangible personal property does not include a sign placed on a property indicating that the property is for sale or lease. On and after October 1, 2023, tangible personal property shall include motor vehicles listed on the schedule of motor vehicle plate classes recommended pursuant to § 12-71d. Commercial or financial information in any declaration filed under this section, except for commercial or financial information which concerns motor vehicles, shall not be open for public inspection but may be disclosed to municipal officers for tax collection purposes.

(d) Form. For assessment years commencing on or after October 1, 2023, the Office of Policy and Management shall, in consultation with the Connecticut Association of Assessing Officers, prescribe a form for the annual declaration of personal property.

(e) Electronic filing. Any person required by law to file an annual declaration of personal property may sign and file such declaration electronically, provided the municipality in which such declaration is to be filed (1) has the technological ability to accept electronic signatures, and (2) agrees to accept electronic signatures for annual declarations of personal property.

(f) Penalty. (1) Any person who fails to file a declaration of personal property on or before the first day of November, or on or before the extended filing date as granted by the assessor pursuant to § 12-42 shall be subject to a penalty equal to twenty-five per cent of the assessment of such property; (2) any person who files a declaration of personal property in a timely manner, but has omitted property, as defined in § 12-53, shall be subject to a penalty equal to twenty-five per cent of the assessment of such omitted property. The penalty shall be added to the grand list by the assessor of the town in which such property is taxable; and (3) any declaration received by the municipality to which it is due that is in an envelope bearing a postmark, as defined in § 1-2a, showing a date within the allowed filing period shall not be deemed to be delinquent.