CT SB00223

Assessors may require owners of rental income-producing properties to submit annual income and expense information by June 1st on a form provided at least 45 days prior.

Property owners failing to submit required information or submitting incomplete or false information are subject to a 10 percent penalty increase in assessed value.

For assessment years after October 1, 2021, the penalty is applied through a certificate of correction issued by the assessor, with tax collectors required to bill owners within 30 days of receipt.

Penalties may be waived if the current property owner was not the owner on the assessment date for the grand list, or if the town adopts an ordinance allowing waiver upon receipt of the information.

Income and expense disclosure forms postmarked within the allowed filing period are not deemed delinquent, and extensions to July 1st may be granted by the assessor for good cause.