SB 870 Summary

• Increases property tax exemptions for 100% disabled veterans to three times the base exemption amount, with income limits of $24,000 (married) or $21,000 (unmarried), excluding veterans' disability payments.

• Allows property tax exemption certificates issued by one municipality to be valid in any other Connecticut municipality if the person meets eligibility requirements.

• Modifies property revaluation requirements to establish five geographic "revaluation zones" statewide with staggered five-year revaluation schedules beginning October 1, 2022.

• Requires municipalities to automatically increase property tax exemptions by a multiplier based on changes in grand list values during revaluation years to maintain consistent exemption amounts.

• Changes billing timelines for tax adjustments and certificates of correction from ten days to thirty days, and modifies various tax relief and refund procedures related to property assessment changes.