General Assembly Proposed Bill No. 456
January Session, 2015 LCO No. 2437
*02437*
Referred to Committee on PLANNING AND DEVELOPMENT
Introduced by:
SEN. FRANTZ, 36th Dist. REP. BOCCHINO, 150th Dist.
General Assembly
Proposed Bill No. 456
January Session, 2015
LCO No. 2437
*02437*
Referred to Committee on PLANNING AND DEVELOPMENT
Introduced by:
SEN. FRANTZ, 36th Dist.
REP. BOCCHINO, 150th Dist.
AN ACT ESTABLISHING A FIVE-YEAR PHASE-IN PERIOD FOR PROPERTY TAX INCREASES ASSOCIATED WITH CERTAIN RECONSTRUCTION COSTS.
Be it enacted by the Senate and House of Representatives in General Assembly convened:
That title 12 of the general statutes be amended to provide that when a residence is damaged by natural disaster and then reconstructed, any increase in the property tax assessment resulting from such reconstruction be phased in over a five-year period, with the first year capped at the predisaster assessed value, and with one-quarter of the increase added to the assessed value over the remaining four years.
Statement of Purpose:
To protect homeowners suffering damage from natural disasters from being further burdened by taxes.