OFFICE OF FISCAL ANALYSIS
Legislative Office Building, Room 5200
Hartford, CT 06106 (860) 240-0200
http://www.cga.ct.gov/ofa
sSB-998
AN ACT ESTABLISHING A TAX ABATEMENT FOR CERTAIN
CONSERVATION EASEMENTS.
Primary Analyst: LG 4/1/23
Contributing Analyst(s):
OFA Fiscal Note
State Impact: None
Municipal Impact:
Municipalities Effect FY 24 $ FY 25 $
Various Municipalities STATE
MANDATE
1
- Revenue
Loss
Potential Potential
Explanation
The bill requires municipalities to adopt an ordinance by January 1,
2024 that establishes a property tax abatement for certain portions of
land that are subject to a recreational trail conservation restriction. Each
municipality must continue with the abatement until the municipality's
legislative body votes to end it. This results in a revenue loss beginning
in FY 24 that is dependent on the value of the land that qualifies for the
property tax abatement and the level of the abatement.
The Out Years
The annualized ongoing fiscal impact identified above would
continue into the future subject to inflation in the value of the land
subject to the abatement and when (if at all) the municipality votes to
1
State mandate is defined in Sec. 2-32b(2) of the Connecticut General Statutes, "state
mandate" means any state initiated constitutional, statutory or executive action that
requires a local government to establish, expand or modify its activities in such a way
as to necessitate additional expenditures from local revenues. 2023SB-00998-R000427-FN.DOCX Page 2 of 2
end the abatement.