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CT HB06557

Bill

Official Source

Status

Introduced

1/26/2023

Primary Sponsor

Planning and Development Committee

Click for details

Origin

House of Representatives

2023 General Assembly

AI Summary

  • Increases the property tax exemption threshold for tangible personal property owned by business organizations from $250 to $1,000
  • Exemption applies only to property with an original value of $1,000 or less
  • Exemption does not apply during the first ten full assessment years following the year the property was acquired
  • Effective October 1, 2023, and applies to assessment years commencing on or after October 1, 2023
  • Amends Connecticut General Statutes section 12-81, subdivision (79)

Legislative Description

An Act Increasing The Amount Of Tangible Personal Property Owned By A Business Organization That Is Exempt From The Property Tax.

Last Action

Public Hearing 02/01

1/27/2023

Committee Referrals

Planning and Development1/26/2023

Full Bill Text

No bill text available