Connecticut 2023 Regular Session

Connecticut Senate Bill SB00999

Introduced
2/9/23  
Refer
2/9/23  
Refer
2/9/23  
Report Pass
3/8/23  
Report Pass
3/8/23  
Refer
3/14/23  
Report Pass
3/21/23  
Report Pass
3/21/23  
Refer
4/26/23  
Report Pass
5/2/23  
Report Pass
5/3/23  
Engrossed
5/16/23  
Report Pass
5/18/23  

Caption

An Act Increasing The Uniform Assessment Rate For Property Tax.

Impact

The implementation of SB00999 is expected to create a more uniform taxation structure among different towns and cities, which could lead to a variety of financial outcomes. Local municipalities would likely see an increase in property tax revenues, enabling better funding for schools, infrastructure, and public services. However, the increase in assessment rates may place a heavier financial burden on property owners, particularly in areas with lower property values. This shift in tax responsibility raises concerns regarding housing affordability and economic disparities across different regions.

Summary

SB00999, known as the Act Increasing The Uniform Assessment Rate For Property Tax, seeks to raise the property tax assessment rate from seventy percent to seventy-five percent of the actual value of the property as determined by state statutes. This change is set to take effect on October 1, 2023, applying to assessment years starting from this date. The intent of the bill is to standardize the property tax assessment across municipalities, potentially increasing revenue for local governments that rely heavily on property taxes to fund essential services.

Sentiment

The sentiment surrounding SB00999 is mixed among legislators and constituents. Supporters of the bill argue that increasing the property tax assessment rate is a necessary step to ensure that municipalities can adequately fund essential services without overly relying on state funds. Conversely, opponents cautioned that this increase could disproportionately impact lower-income families and individuals on fixed incomes, who may struggle to meet higher property tax obligations. The debate emphasizes the tension between generating adequate local revenues and ensuring housing stability for residents.

Contention

Notable points of contention include the potential economic impact on property owners, the lack of discussion surrounding exemptions or phased implementations for vulnerable populations, and concerns that this reform might disadvantage renters by increasing the cost of housing. The proposal faced significant opposition in the Senate, as evidenced by the voting history; during a roll call vote, 12 senators supported the bill while 23 opposed it, signalling substantial dissent regarding the bill's implications and implementation strategies.

Companion Bills

No companion bills found.

Previously Filed As

CT SB00450

An Act Phasing In The Exemption Of Motor Vehicles From Property Tax And Increases In The Uniform Property Assessment Rate.

CT HB05172

An Act Concerning The Assessment Of Motor Vehicles For Property Taxation.

CT SB00452

An Act Concerning The Property Tax Appeals Process And The Penalty Related To The Submission Of Income And Expenses Information For Rental Properties.

CT SB00501

An Act Concerning Motor Vehicle Assessments For Property Taxation, Innovation Banks, The Interest On Certain Tax Underpayments, The Assessment On Insurers, School Building Projects, The South Central Connecticut Regional Water Authority Charter And Certain State Historic Preservation Officer Procedures.

CT HB05477

An Act Concerning Penalties For Blight Upon Real Property, Municipal Agreements To Fix Assessments And A Personal Property Tax Exemption.

CT HB05393

An Act Concerning Certain Adjustments To Gross Assessments Of Taxable Real Property.

CT HB05396

An Act Limiting The Assessment Of Interest On Certain Delinquent Property Tax Payments.

CT SB00266

An Act Increasing The Conveyance Tax For Certain Home Sales.

CT SB00419

An Act Limiting Property Tax Increases.

CT HB05491

An Act Establishing A Property Tax Exemption For Veterans Who Have A Service-connected Permanent And Total Disability Rating.

Similar Bills

No similar bills found.