Bill Text: CT SB00456 | 2015 | General Assembly | Introduced

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Bill Title: An Act Establishing A Five-year Phase-in Period For Property Tax Increases Associated With Certain Reconstruction Costs.

Sponsorship: Partisan Bill (Republican 2)

Status: (Introduced - Dead) 2015-01-22 - Referred to Joint Committee on Planning and Development [SB00456 Detail]

Download: Connecticut-2015-SB00456-Introduced.html

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General Assembly		Proposed Bill No. 456
January Session, 2015		LCO No. 2437
		*02437*
Referred to Committee on PLANNING AND DEVELOPMENT
Introduced by:
SEN. FRANTZ, 36th Dist. REP. BOCCHINO, 150th Dist.

AN ACT ESTABLISHING A FIVE-YEAR PHASE-IN PERIOD FOR PROPERTY TAX INCREASES ASSOCIATED WITH CERTAIN RECONSTRUCTION COSTS.

Be it enacted by the Senate and House of Representatives in General Assembly convened:

That title 12 of the general statutes be amended to provide that when a residence is damaged by natural disaster and then reconstructed, any increase in the property tax assessment resulting from such reconstruction be phased in over a five-year period, with the first year capped at the predisaster assessed value, and with one-quarter of the increase added to the assessed value over the remaining four years.

Statement of Purpose:

To protect homeowners suffering damage from natural disasters from being further burdened by taxes.