Connecticut Senate Bill SB00172

Connecticut 2021 Regular Session

• Introduced: 1/22/21
• Refer: 1/22/21

Caption

An Act Establishing A State-wide Assessment To Encourage Affordable Housing In The State.

Impact

The bill's impact on state laws is significant as it seeks to incentivize municipalities to increase their affordable housing stock. By providing lower assessment rates for municipalities with higher percentages of affordable developments, the bill aims to create a financial incentive for local governments. The intent is to ensure that affordable housing is prioritized, thereby attempting to address the housing crisis facing many communities. This could lead to more uniformity in housing policies across the state, encouraging local governments to adjust their zoning and development regulations to meet the established thresholds.

Summary

SB00172 proposes the establishment of a state-wide assessment system designed to promote affordable housing across municipalities. The assessment would apply to both commercial and residential real properties and is structured based on the percentage of affordable housing developments within a municipality. Specific thresholds are set, which, based on these percentages, dictate the assessment rates imposed on real properties therein. Notably, residential properties with an assessed value up to $300,000 would be exempt from this assessment, aiming to alleviate some financial burden on lower-income residents.

Contention

The assessment structure laid out in SB00172 may lead to tension among municipalities, as those with fewer affordable housing developments might resist the implications of higher assessment rates. Concerns may arise around local autonomy, as some communities may feel pressure to conform to state-imposed standards. Additionally, the bill could spur debates regarding property values, local budgeting, and the allocation of resources for housing development, as municipalities with lower affordable housing percentages could struggle financially under the proposed assessment rates. This balance between state involvement and local control is poised to be a key point of discussion as the bill progresses.