LCO No. 1919 1 of 1 General Assembly Proposed Bill No. 738 January Session, 2025 LCO No. 1919 Referred to Committee on FINANCE, REVENUE AND BONDING Introduced by: SEN. LOONEY, 11th Dist. AN ACT ESTABLISHING A HOMESTEAD PROPERTY TAX EXEMPTION. Be it enacted by the Senate and House of Representatives in General Assembly convened: That the general statutes be amended to establish a property tax 1 exemption of fifty thousand dollars of the assessed value of owner-2 occupied single-family dwellings. 3 Statement of Purpose: To establish a property tax exemption of fifty thousand dollars of the assessed value of owner-occupied single-family dwellings.