CT
Connecticut Senate Bill SB00898

Connecticut 2011 Regular Session

Connecticut Senate Bill SB00898 Compare Versions

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1-General Assembly Substitute Bill No. 898
2-January Session, 2011 *_____SB00898PD____031111____*
1+General Assembly Raised Bill No. 898
2+January Session, 2011 LCO No. 2904
3+ *02904_______PD_*
4+Referred to Committee on Planning and Development
5+Introduced by:
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48 General Assembly
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6-Substitute Bill No. 898
10+Raised Bill No. 898
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812 January Session, 2011
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10-*_____SB00898PD____031111____*
14+LCO No. 2904
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12-AN ACT CONCERNING PROPERTY TAX RELIEF FOR LOW AND MODERATE INCOME OWNERS OF RESIDENTIAL PROPERTY.
16+*02904_______PD_*
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18+Referred to Committee on Planning and Development
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20+Introduced by:
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22+(PD)
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24+AN ACT CONCERNING PROPERTY TAX RELIEF FOR LOW AND MODERATE-INCOME HOMEOWNERS.
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1426 Be it enacted by the Senate and House of Representatives in General Assembly convened:
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16-Section 1. (NEW) (Effective October 1, 2011, and applicable to assessment years commencing on or after October 1, 2011) (a) For purposes of this section, (1) "low income" means persons and families having an aggregate family income equal to or over twenty-six per cent but less than fifty per cent of the area median income, as determined by the United States Department of Housing and Urban Development; and (2) "moderate income" means persons and families having an aggregate family income equal to or over fifty per cent but less than eighty per cent of the area median income, as determined by the United States Department of Housing and Urban Development.
28+Section 1. Subsection (b) of section 12-62a of the general statutes is repealed and the following is substituted in lieu thereof (Effective October 1, 2011):
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18-(b) Notwithstanding subsection (b) of section 12-62a of the general statutes, any municipality may, by vote of its legislative body or, in a municipality where the legislative body is a town meeting, by vote of the board of selectmen, assess any residential property owned by low and moderate income households, including, but not limited to, a single family unit in a common interest community, at less than seventy per cent of the present true and actual value, as determined under section 12-63 of the general statutes.
30+(b) (1) Each such municipality shall assess all property for purposes of the local property tax at a uniform rate of seventy per cent of present true and actual value, as determined under section 12-63.
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20-(c) Any municipality that elects, pursuant to subsection (b) of this section, to reduce the assessment of residential property owned by low and moderate income households shall establish a procedure under which such municipality shall determine eligibility for such reduced assessment. Such procedure shall include a provision that when an applicant has filed for such reduced assessment and received approval for the first time, such reduced assessment shall only apply for two assessment years, subject to the provisions of subsection (d) of this section, and such applicant shall be required to refile for such reduced assessment thereafter in order to continue such reduced assessment.
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22-(d) Any person who has submitted an application and been approved in any assessment year for the reduced assessment under subsection (b) of this section shall, in the assessment year immediately following approval, be presumed to be qualified for such reduced assessment. If, in the assessment year immediately following approval, such person has qualifying income in excess of the maximum allowed under this section, such person shall notify the tax assessor in the municipality on or before the next filing date for such reduced assessment and shall be denied such reduced assessment for the following assessment year and for any subsequent assessment year until such person has reapplied and again qualified for such reduced assessment. Any person who fails to notify the tax assessor of such disqualification shall be liable to the municipality in the amount of property tax revenue loss due to the reduced assessment improperly taken.
32+(2) Notwithstanding subdivision (1) of this section, any municipality may, by vote of its legislative body or, in a municipality where the legislative body is a town meeting, by vote of the board of selectmen, assess any residential property owned by low and moderate-income households, including, but not limited to, a single family unit in a common interest community, at less than seventy per cent of the present true and actual value, as determined under section 12-63. For purposes of this subdivision, (1) "low income" means persons and families having an aggregate family income equal to or over twenty-six per cent but less than fifty per cent of the area median income, as determined by the United States Department of Housing and Urban Development; and (2) "moderate income" means persons and families having an aggregate family income equal to or over fifty per cent but less than eighty per cent of the area median income, as determined by the United States Department of Housing and Urban Development.
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2737 This act shall take effect as follows and shall amend the following sections:
28-Section 1 October 1, 2011, and applicable to assessment years commencing on or after October 1, 2011 New section
38+Section 1 October 1, 2011 12-62a(b)
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3040 This act shall take effect as follows and shall amend the following sections:
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3242 Section 1
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34-October 1, 2011, and applicable to assessment years commencing on or after October 1, 2011
44+October 1, 2011
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36-New section
46+12-62a(b)
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48+Statement of Purpose:
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50+To authorize municipalities to provide property tax relief to low and moderate-income homeowners.
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40-PD Joint Favorable Subst.
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42-PD
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44-Joint Favorable Subst.
52+[Proposed deletions are enclosed in brackets. Proposed additions are indicated by underline, except that when the entire text of a bill or resolution or a section of a bill or resolution is new, it is not underlined.]