CT SB00172

Establishes a state-wide assessment on commercial and residential real property based on the percentage of affordable housing developments in each municipality as defined in section 8-30g of Connecticut general statutes.

Exempts the first $300,000 of assessed value of residential property from the assessment.

Sets assessment rates on a sliding scale from zero mills to two mills depending on municipality affordable housing percentage: 0% to less than 2% = 2 mills; 2% to less than 4% = 1.6 mills; 4% to less than 6% = 1.2 mills; 6% to less than 8% = 0.8 mills; 8% to less than 10% = 0.4 mills; 10% or more = 0 mills.

Municipalities meeting the 10% affordable housing threshold face zero assessment while those with lower percentages face progressively higher assessment rates.