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CT HB06651
Bill
Status
Introduced
1/28/2015
Primary Sponsor
Aundre Bumgardner
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AI Summary
- Provides property tax deduction for homeowners earning less than $250,000 annually if property taxes exceed 7% of income, with deduction covering up to half the amount exceeding the threshold
- Provides property tax deduction for renters earning less than $150,000 annually if rent attributable to property taxes exceeds 7% of income, with deduction covering up to half the amount exceeding the threshold
- Allows taxpayers age 65 and older and military veterans to postpone property tax payments until property sale or estate settlement at 2.5% interest rate
- Restricts relief provisions to properties where taxpayer does not earn income and prohibits tax postponement if taxpayer has a reverse mortgage on the property
- Requires trust property applicants to be named both trustee and beneficiary of the trust
Legislative Description
An Act Concerning Property Tax Relief.
Last Action
Referred to Joint Committee on Planning and Development
1/28/2015
Committee Referrals
Planning and Development1/28/2015
Full Bill Text
No bill text available