CT SB01036

Repeals and replaces subsection (a) of section 12-53a regarding municipal tax assessment on new construction, effective October 1, 2017

Completed new construction becomes liable for municipal taxes from the earlier of when a certificate of occupancy is issued or when the property is first used, with taxes prorated for that assessment year

Land for one, two, three, or four family residential dwellings shall be assessed without including the dwelling's value until the earliest of: certificate of occupancy issuance, first use of the dwelling, or conveyance of title to a buyer intending to occupy it

Exempts partially completed residential construction from standard partial completion tax assessment rules when the dwelling is a one to four family residential unit