OFFICE OF FISCAL ANALYSIS
Legislative Office Building, Room 5200
Hartford, CT 06106 (860) 240-0200
http://www.cga.ct.gov/ofa
HB-5474
AN ACT ESTABLISHING A PROPERTY TAX EXEMPTION FOR
PROPERTY LOCATED ON CERTAIN INDIAN LANDS.
Primary Analyst: DD 4/19/22
Contributing Analyst(s):
OFA Fiscal Note
State Impact: None
Municipal Impact:
Municipalities Effect FY 23 $ FY 24 $
Ledyard; Montville Grand List
Reduction
None Minimal
Explanation
The bill exempts certain property located on Native American tribal
lands from property taxes. This is estimated to result in a minimal grand
list reduction in the towns of Montville and Ledyard. At current mill
rates, the revenue loss is anticipated to be $600,000 in Ledyard and
$700,000 in Montville.
Due to the timing of the bill, FY 24 is the first year any impact would
occur.
The Out Years
The annualized ongoing fiscal impact identified above would
continue into the future subject to changes in mill rates and grand lists
in Ledyard and Montville.