Connecticut House Bill HB05884

Connecticut 2015 Regular Session

• Introduced: 1/21/15
• Refer: 1/21/15

Caption

An Act Delaying Revaluation In The Town Of North Stonington.

Impact

The bill specifically impacts local governance by altering the timing of property tax evaluations, which can have significant implications for the town's financial planning and revenue generation. By allowing a one-year delay, it offers a reprieve to residents and businesses in North Stonington from potential increases in property taxes that could result from a new assessment. This could be particularly beneficial in times of financial uncertainty, where residents may struggle with additional financial burdens.

Summary

House Bill 05884 proposes to amend section 12-62 of the general statutes, allowing the town of North Stonington to defer property tax revaluation for one year. This legislation is aimed at providing the town the flexibility to manage its financial obligations and property assessments more effectively, especially in light of the potential economic fluctuations and local conditions that might affect property values. By postponing the revaluation process, the town can sustain current tax rates until the next statistical revaluation is deemed necessary.

Contention

While the bill seems straightforward, potential points of contention may arise from the perception of fairness and equity in taxation. Opponents might argue that delaying revaluation could create disparities in tax burdens among different property owners, particularly if property values are rising unevenly in the community. Critics may also raise concerns regarding the long-term impacts of deferred assessments, asserting that prolonged delays could lead to a backlog of necessary valuations that complicate future fiscal responsibilities for the town.