CT HB05983

Establish an annual property tax growth cap for local government entities (municipalities, special taxing districts, and regional school districts) set at the lesser of 2 percent or the consumer price index increase, with negative growth treated as zero

Exclude from tax growth calculations any revenue generated from new construction or other value-increasing activities in the previous fiscal year to avoid penalizing tax base expansion and to account for new or expiring tax abatements

Allow entities to exceed the cap only through a supermajority vote by the legislative body or by referendum, as applicable

Permit entities to carry over any unused levy below the cap for one successive fiscal year

Impose penalties on entities that exceed the cap by reducing their allowable cap for the following fiscal year