OFFICE OF FISCAL ANALYSIS
Legislative Office Building, Room 5200
Hartford, CT 06106 (860) 240-0200
http://www.cga.ct.gov/ofa
HB-6643
AN ACT CONCERNING MUNICIPAL TAXATION ASSISTANCE
PROGRAMS AND THE MUNICIPAL PROPERTY TAX WAIVER.
As Amended by House "A" (LCO 9292)
House Calendar No.: 392
Primary Analyst: DD 5/26/21
Contributing Analyst(s):
OFA Fiscal Note
State Impact: None
Municipal Impact:
Municipalities Effect FY 22 $ FY 23 $
Various Municipalities Revenue
Loss
Less than
$5,000
Less than
$5,000
Explanation
The bill results in a revenue loss to certain municipalities in FY 22
and FY 23 by allowing them to 1) reduce the interest rate on property
taxes subject to a three-month deferment, and 2) waive any property
tax bill of less than $100.
The revenue loss is expected to be less than $5,000 in each fiscal year
for any municipality that chooses to adopt these provisions. The
impact would depend on the number of property tax payers that
municipalities offer these benefits to.
House "A" limits the options established in the underlying bill to FY
22 and FY 23 only. This precludes any revenue loss from occurring in
the out years.
The Out Years
As the bill only allows municipalities to implement an interest rate 2021HB-06643-R010754-FN.DOCX Page 2 of 2
reduction or property tax waiver in FY 22 or FY 23, there is no impact
in the out years.