Connecticut House Bill HB06480

Connecticut 2013 Regular Session

• Introduced: 2/21/13
• Refer: 2/21/13

Caption

An Act Delaying Revaluation.

Impact

The enactment of HB 06480 has the potential to significantly affect local property taxation frameworks within the state. By allowing municipalities to delay revaluations, the bill aims to ease the financial burden on property owners during periods of economic uncertainty, while also giving municipalities time to adapt to changing property values. This could alleviate immediate fiscal pressures but might lead to future discrepancies in property values, influencing tax equity among residents once the revaluation is eventually implemented.

Summary

House Bill 06480 proposes to delay the revaluation of real property assessments for municipalities that were required to carry out an assessment in the 2012 or 2013 assessment years. The bill stipulates that municipalities can suspend the implementation of revaluations until the assessment year commencing October 1, 2014, thereby providing them with additional time to prepare. The decision to suspend a phase-in of property assessment increases must be approved by the legislative body of the municipality, allowing for localized governance over the process.

Contention

There are notable points of contention surrounding the bill. Supporters argue that the delay will prevent sudden tax increases that could be detrimental to homeowners during tough economic times. However, opponents raise concerns that postponing revaluations may prolong inequities in property tax distribution, potentially disadvantaging those whose property values have not risen significantly. The debate highlights the balance between providing immediate financial relief and ensuring fairness in property taxation practices.