Connecticut 2024 Regular Session

Connecticut Senate Bill SB00452

Introduced
3/26/24  
Introduced
3/26/24  
Report Pass
4/3/24  
Refer
3/26/24  
Refer
3/26/24  
Refer
4/15/24  
Report Pass
4/3/24  
Report Pass
4/3/24  
Report Pass
4/22/24  
Refer
4/15/24  
Refer
4/15/24  

Caption

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

Impact

The enactment of SB00452 would require a transition in how local assessors manage property evaluations and interactions with property owners. Furthermore, the bill establishes clear timelines and procedures that must be followed in the event of disputes. By mandating the submission of detailed financial information, the bill could lead to more accurate property valuations but also imposes strict penalties for non-compliance, which may create anxiety among property owners concerned about the potential for increased tax assessments due to inaccurate or incomplete submissions.

Summary

Senate Bill 00452 proposes significant modifications to the property tax appeals process and the penalties related to the submission of income and expenses information for rental properties. The bill establishes new protocols for the assessment of rental properties by requiring owners to submit detailed income and expense disclosures to local assessors. This information is vital for determining the true and actual value of rental properties, which plays a crucial role in property tax calculations. The bill intends to streamline the appeals process by requiring timely mediation between the property owners and assessors, potentially reducing court overload related to tax disputes.

Sentiment

General sentiment around SB00452 appears divided among property owners and local authorities. Supporters of the bill, likely including local government officials and tax assessors, argue that it provides necessary tools for more accurate property assessments, ensuring fair taxation practices. On the other hand, some property owners worry about the potential for increased tax liabilities and the added bureaucratic burden of submitting detailed financial reports. The discussions reflected anxieties over property rights and local taxation fairness.

Contention

A notable point of contention arises surrounding the bill's requirement for property owners to disclose income and expense information. Critics suggest this may be intrusive and burdensome for smaller property owners or those not equipped to handle such administrative demands. Additionally, the consequences of failing to submit accurate information can lead to harsher penalties, which some stakeholders argue may disproportionately affect those less familiar with tax laws or those who may unintentionally make mistakes in their submissions.

Companion Bills

No companion bills found.

Previously Filed As

CT HB06801

An Act Concerning The Submission Of Income And Expense Information In Connection With The Assessment Of Income-producing Real Property.

CT SB00425

An Act Concerning Penalties For Failure To File Certain Property Tax Assessment Information And Contingency Agreements For Expert Testimony In Certain Tax Assessment Appeals.

CT SB00695

An Act Concerning Penalties For Failure To File Certain Property Tax Assessment Information And Contingency Agreements For Expert Testimony In Certain Tax Assessment Appeals.

CT SB00223

An Act Concerning Penalties For Failure To File Certain Property Tax Assessment Information.

CT SB01025

An Act Concerning Short-term Rental Properties.

CT HB07177

An Act Concerning Short-term Rental Properties.

CT SB01238

An Act Concerning A Review Of Boards Of Assessment Appeals Proceedings.

CT H6043

Makes certain technical amendments /clarifications to the statutes relating to the assessment of real property and the timing and process to appeals thereof.

CT S0942

Makes certain technical amendments /clarifications to the statutes relating to the assessment of real property and the timing and process to appeals thereof.

CT SB0020

Property tax: appeals; process for appealing certain assessment-related disputes as to certain property; amend. Amends sec. 34 of 1893 PA 206 (MCL 211.34) & adds secs. 34f & 34g.

Similar Bills

CA AB2425

Property taxation: property records: transmission by mail or electronic format.

CA SB658

Property tax: exemptions: disabled veterans.

NJ A555

Requires municipal-wide reassessment of real property under certain circumstances.

NJ A1441

Requires municipal-wide reassessment of real property under certain circumstances.

CA SB996

Corporation taxes: tax rates.

CA SB791

Property taxation: valuation: certificated aircraft.

CA AB3122

Property taxation: disaster relief: payment of deferred taxes.

CA AB1879

Property taxation: filing.