Connecticut Senate Bill SB00256

Connecticut 2020 Regular Session

• Introduced: 2/26/20
• Refer: 2/26/20

Caption

An Act Increasing The Property Tax Exemption For Farm Buildings.

Impact

The passage of SB00256 represents a change to state laws concerning property tax exemptions. By implementing an increase in the exemption limit, the bill is expected to enhance the economic viability of farming operations. It enables municipalities to support their agricultural sectors through tax relief measures, which can encourage local farmers to invest in their properties, improve facilities, and potentially increase production.

Summary

SB00256 aims to increase the property tax exemption for farm buildings from $100,000 to $150,000. This exemption specifically applies to buildings used exclusively for farming purposes or for providing housing for seasonal workers associated with farming operations. It is important to note that this bill is positioned to benefit farmers by reducing their tax liabilities, which can significantly impact their operational costs and overall financial health.

Contention

Although SB00256 proposes beneficial changes for the agricultural community, discussions surrounding the bill may bring up concerns regarding its fiscal impact on municipal revenues. Critics might argue that increasing the property tax exemption could lead to reduced funding for local services that rely on property taxes. The tension between supporting local agriculture and ensuring adequate funding for municipal services might be a point of contention during legislative discussions.