Connecticut Senate Bill SB00304

Connecticut 2023 Regular Session

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

Caption

An Act Exempting Central Air Conditioning And Energy Efficient Windows From Property Valuation Increases.

Impact

If enacted, the bill would alter the existing property valuation laws in a manner that specifically accounts for energy efficiency upgrades. This means that homeowners who invest in energy efficient air conditioning systems and windows would not see their property taxes increase as a result of these improvements. This aligns with broader trends to support sustainability and reduce energy reliance across the state, potentially benefiting both the environment and individual homeowners financially.

Summary

SB00304 proposes to exempt central air conditioning systems and energy efficient windows from increases in property valuations. The intention behind this bill is to promote the installation of these energy-efficient systems without negatively impacting the property value for homeowners. By removing the valuation increase for such improvements, the bill aims to incentivize energy-saving renovations that can lead to reduced energy consumption and costs in the long run.

Contention

Despite its positive intentions, some concerns may arise regarding the implications of the bill on local tax revenues. Critics could argue that exempting these improvements from valuation increases could lead to lower tax income for municipalities, especially those that rely heavily on property taxes for public services. Additionally, questions may be raised about how such exemptions will affect overall property market values and comparability between homes that have made similar energy efficiency investments.