General Assembly Proposed Bill No. 130
January Session, 2011 LCO No. 690
Referred to Committee on Planning and Development
Introduced by:
SEN. LOONEY, 11th Dist.
General Assembly
Proposed Bill No. 130
January Session, 2011
LCO No. 690
Referred to Committee on Planning and Development
Introduced by:
SEN. LOONEY, 11th Dist.
AN ACT CONCERNING LAND VALUE TAXATION.
Be it enacted by the Senate and House of Representatives in General Assembly convened:
That section 12-62a of the general statutes be amended to provide that any city may, by ordinance adopted by its legislative body, (1) classify real estate, excluding farm land, forest land and open space land, as (A) land or land exclusive of buildings, or (B) buildings on land, and (2) establish a different rate of property tax for each class, provided the higher rate shall apply to land or land exclusive of buildings.
Statement of Purpose:
To give municipalities the option of enacting land value taxation to encourage economic development.