CT HB05282

Establishes the "Elderly HomeOwner Property Tax Revolving Loan Fund" effective July 1, 2016 to provide low-interest loans to elderly homeowners who have unpaid property taxes.

Eligibility requires applicants to be age 65 or older, have resided in the municipality for at least 10 years, and have qualifying income not exceeding limits set in Connecticut General Statutes section 12-170aa.

Loans available to homeowners who have failed to pay property taxes for at least two assessment years preceding application, provided the property is not otherwise encumbered and the loan principal does not exceed unpaid taxes owed.

State holds a lien on the property in the loan amount plus prevailing rate interest, with priority over all liens except municipal property tax liens.

Receiving a loan does not disqualify elderly homeowners from eligibility for other state property tax relief programs under sections 12-129b, 12-129c, 12-129n, or 12-170aa.