OFFICE OF FISCAL ANALYSIS
Legislative Office Building, Room 5200
Hartford, CT 06106 (860) 240-0200
http://www.cga.ct.gov/ofa
sHB-5367
AN ACT CONCERNING MOTOR VEHICLE MARKER PLATES FOR
CERTAIN VETERANS AND SERVICE MEMBERS, TAX RELIEF FOR
VETERANS, MUNICIPAL VETERANS SERVICES AND TECHNICAL
REVISIONS TO VETERANS' AND MILITARY AFFAIRS STATUTES.
As Amended by House "A" (LCO 5347)
House Calendar No.: 161
Primary Analyst: DD 4/26/22
Contributing Analyst(s):
OFA Fiscal Note
State Impact: None
Municipal Impact:
Municipalities Effect FY 23 $ FY 24 $
Various Municipalities Grand List
Reduction
None Potential
Explanation
The bill creates an optional property tax exemption of 10% of the
assessment of a home owned by veterans that meet certain income
limits.
A municipality that chose to implement this would experience a
grand list reduction. At current mill rates, if every municipality chose to
implement this option, the cumulative revenue loss would be an
estimated $63.5 million.
The bill requires the Office of Policy and Management and the
Department of Veterans' Affairs to provide information to
municipalities and veterans' organizations about property tax
exemptions for which veterans are eligible. This has no fiscal impact as
it is anticipated that the agencies can provide this information with
existing resources. 2022HB-05367-R010674-FN.DOCX Page 2 of 2
The bill requires the Commissioner of the Department of Veterans'
Affairs to provide recommendations for improvements regarding
municipal veterans' representatives which does not result in a fiscal
impact. The bill also establishes a task force to study veterans' property
tax exemptions. These changes have no fiscal impact.
Lastly, the bill makes several minor and technical changes to statutes
relating to veterans, which has no fiscal impact.
House "A" creates an optional property tax exemption for veterans
below certain income thresholds and results in the above identified
fiscal impact.
The Out Years
The ongoing above identified fiscal impact will continue into the
future subject to changes in municipal grand lists and mill rates.