Connecticut House Bill HB05863

Connecticut 2023 Regular Session

• Introduced: 1/18/23
• Refer: 1/18/23

Caption

An Act Concerning Additional Property Tax And Rental Credits And Relief Programs For Seniors.

Impact

If enacted, HB 5863 would significantly impact state laws concerning property taxation and housing assistance for seniors. The introduction of a homestead exemption would reduce the taxable value of a primary residence for qualifying individuals, resulting in lower property tax bills. Furthermore, the addition of refundable property tax credits would provide direct financial benefits to seniors, further easing their financial burden. This bill reflects a broader effort to enhance the welfare of older citizens and improve their living conditions.

Summary

House Bill 5863 aims to provide additional financial relief measures for seniors, specifically through enhanced property tax and rental credits. The bill proposes amendments to current statutes to introduce new programs that could include a homestead exemption and a refundable property tax credit. This legislation underscores the commitment to support the elderly population, particularly those facing economic hardships due to increasing living costs.

Contention

Despite the bill's supportive framework for seniors, there may be contention regarding the fiscal implications of such tax relief measures. Opponents may argue that expanding property tax credits and exemptions could strain state revenue, potentially affecting funding for other essential services. Additionally, discussions may arise around the criteria for qualifying for these benefits and whether such measures adequately address the needs of all seniors, particularly those in varied financial situations.