Bill Text: CT HB05143 | 2011 | General Assembly | Comm Sub
Bill Title: An Act Concerning The Municipal Option To Adopt Assessment Rates Limiting Property Tax Increases On Residential Properties.
Spectrum: Moderate Partisan Bill (Democrat 4-1)
Status: (Introduced - Dead) 2011-03-31 - Favorable Change of Reference, Senate to Committee on Finance, Revenue and Bonding [HB05143 Detail]
Download: Connecticut-2011-HB05143-Comm_Sub.html
General Assembly |
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January Session, 2011 |
*_____HB05143PD_FIN032811____* |
AN ACT CONCERNING THE MUNICIPAL OPTION TO ADOPT ASSESSMENT RATES LIMITING PROPERTY TAX INCREASES ON RESIDENTIAL PROPERTIES.
Be it enacted by the Senate and House of Representatives in General Assembly convened:
Section 1. (NEW) (Effective from passage and applicable to assessment years commencing on or after October 1, 2011) (a) For the purposes of this section:
(1) "Apartment property" means a building containing four or more dwelling units used for human habitation, the parcel of land on which such building is situated and any accessory buildings or other improvements located on such parcel;
(2) "Base year" means the assessment year commencing October 1, 2010; and
(3) "Residential property" means a building containing three or fewer dwelling units used for human habitation, the parcel of land on which such building is situated and any accessory buildings or other improvements located on such parcel.
(b) Notwithstanding any provision of the general statutes or any special act, municipal charter or any home rule ordinance, any municipality in which the provisions of section 12-62n of the general statutes are effective for the assessment year commencing on October 1, 2010, may, by ordinance, adopt the property tax system described in this section.
(c) (1) In any municipality that adopts the property tax system under this section, the assessor shall determine a rate of assessment for residential property for the assessment year in which a revaluation is effective, that will have the effect of increasing the average property tax as a result of revaluation for residential property, by three per cent over the property tax for said property class in the base year. The assessor shall recalculate the rate of assessment for residential property for each of the four assessment years following the assessment year in which the provisions of this section become effective, such that the average property tax for the property class composed of residential property increases as a result of said revaluation by three per cent over the average property tax provided by this section for such property class in each prior assessment year.
(2) In any municipality that adopts the property tax system under this section, the assessor shall determine a rate of assessment for apartment property for the assessment year in which a revaluation is effective, that will have the effect of increasing the average property tax as a result of revaluation for apartment property, by five and one-quarter per cent over the property tax for said property class in the base year. The assessor shall recalculate the rate of assessment for apartment property for each of the four assessment years following the assessment year in which the provisions of this section become effective, such that the average property tax for the property class composed of apartment property increases as a result of said revaluation by five and one-quarter per cent over the average property tax provided by this section for such property class in each prior assessment year.
(3) Notwithstanding the provisions of subsection (b) of section 12-62a of the general statutes, the assessor shall establish a rate of assessment for all real property to effectuate the provisions of this section.
This act shall take effect as follows and shall amend the following sections: | ||
Section 1 |
from passage and applicable to assessment years commencing on or after October 1, 2011 |
New section |
PD |
Joint Favorable Subst. C/R |
FIN |