| Old | New | Differences | |
|---|---|---|---|
| 1 | 1 | ||
| 2 | 2 | ||
| 3 | 3 | LCO No. 1904 1 of 2 | |
| 4 | 4 | ||
| 5 | 5 | General Assembly Proposed Bill No. 5983 | |
| 6 | 6 | January Session, 2021 | |
| 7 | 7 | LCO No. 1904 | |
| 8 | 8 | ||
| 9 | 9 | ||
| 10 | 10 | Referred to Committee on PLANNING AND DEVELOPMENT | |
| 11 | 11 | ||
| 12 | 12 | ||
| 13 | 13 | Introduced by: | |
| 14 | 14 | REP. WOOD, 141st Dist. | |
| 15 | 15 | REP. ZAWISTOWSKI, 61st Dist. | |
| 16 | 16 | ||
| 17 | 17 | ||
| 18 | 18 | ||
| 19 | 19 | ||
| 20 | 20 | AN ACT CONCERNING PROPERTY TAX REFORMS. | |
| 21 | 21 | Be it enacted by the Senate and House of Representatives in General | |
| 22 | 22 | Assembly convened: | |
| 23 | 23 | ||
| 24 | 24 | That the general statutes be amended to (1) establish a cap on the 1 | |
| 25 | 25 | annual property tax growth of any local government entity, including, 2 | |
| 26 | 26 | but not limited to, municipalities, special taxing districts and regional 3 | |
| 27 | 27 | school districts, to the lesser of two per cent or the amount of increase to 4 | |
| 28 | 28 | the consumer price index, where negative consumer price index growth 5 | |
| 29 | 29 | shall be treated as zero; (2) exclude from property tax growth added tax 6 | |
| 30 | 30 | revenue from new construction or other value increasing activity in the 7 | |
| 31 | 31 | previous fiscal year so as to not penalize tax base growth and to account 8 | |
| 32 | 32 | for new or expiring abatements as they occur; (3) permit the cap to be 9 | |
| 33 | 33 | exceeded by a supermajority in a vote by the legislative body or by 10 | |
| 34 | 34 | referendum, as applicable; (4) permit entities to carry over an unused 11 | |
| 35 | 35 | levy below the cap for one successive fiscal year; and (5) penalize entities 12 | |
| 36 | 36 | that exceed the cap by reducing such entities' cap for the next fiscal year. 13 Proposed Bill No. 5983 | |
| 37 | 37 | ||
| 38 | 38 | ||
| 39 | 39 | LCO No. 1904 2 of 2 | |
| 40 | 40 | ||
| 41 | 41 | Statement of Purpose: | |
| 42 | 42 | To stabilize property tax growth and support affordable home and | |
| 43 | 43 | business ownership. |