CT SB01068

Each municipality must impose an additional assessment on residential real property owners, effective October 1, 2021, with the first $300,000 of assessed value exempt from the additional assessment.

Additional assessment rates are tiered based on the percentage of affordable housing units in the municipality, ranging from zero mills (10% or more affordable units) to two mills (less than 2% affordable units).

Municipalities with 8-10% affordable housing units pay 0.4 mills; 6-8% pay 0.8 mills; 4-6% pay 1.2 mills; and 2-4% pay 1.6 mills in additional assessment rates.

The affordable housing units referenced are those defined in subdivisions (1) through (5) of subsection (k) of Connecticut General Statutes section 8-30g.

Revenue generated from these additional assessments is intended to support affordable housing development across municipalities based on their existing affordable housing supply.