Property Tax Reforms Coming?

Property taxes will again be a hot topic in the legislature this year, and a proposal (SB 1) in the Planning and Development Committee would make three significant changes.

Connecticut, more than most states, relies more on the local property tax to fund local government. Because of this, municipalities, taxpayers, and policymakers consistently talk about the need to improve the system.

However, what one would define as an improvement can vary significantly from one group to the net.

While SB 1 has not yet been fully drafted, it apparently aims to:

• Implement a regional property tax system to enable municipalities to share certain revenues
• Modify the state’s PILOT program to account for each municipality’s nonprofit properties
• Create a statewide mill rate for motor vehicles

These proposals are among the priorities for Senate Democrats this year.

For more information, contact CBIA’s Bonnie Stewart at 860.244.1925 | bonnie.stewart@cbia.com | @CBIAbonnie