CT SB00486

Extends the deadline for municipalities to submit land value taxation implementation plans from December 31, 2014 to December 31, 2016

Requires appointed committees to prepare implementation plans that include processes for differentiated tax rates, designated geographic areas for application, and identification of legal and administrative issues

Mandates that municipal chief executive officers, elected officials, assessors, and tax collectors review and comment on submitted plans before legislative approval

Requires approved plans to be submitted to joint standing committees of the General Assembly covering planning and development, finance, revenue and bonding, and commerce

Becomes effective October 1, 2014