CT HB05270

Homeowners with reassessed residential properties due to defective concrete foundations must provide annual documentation to assessors showing repair or replacement efforts, beginning October 1, 2023 and continuing annually until the assessment is adjusted.

Documentation must include a copy of the homeowner's participation agreement with the captive insurance company established under section 38a-91vv and a description of repair or replacement efforts to date.

Documentation format and manner shall be prescribed by the assessor.

The reassessed property value remains in effect until the next revaluation, the foundation is repaired or replaced and the assessment is adjusted, or the homeowner provides proof of repair efforts—whichever occurs first.

The act takes effect October 1, 2022 and amends section 29-265d(a) of the general statutes.