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CT SB00776

Bill

Official Source

Status

Introduced

1/19/2023

Primary Sponsor

Martin Looney

Click for details

Origin

Senate

2023 General Assembly

AI Summary

  • Establishes a state-wide property tax of 1 mill on residential real property with assessed values between $1.5 million and $2 million
  • Establishes a state-wide property tax of 2 mills on residential real property with assessed values of $2 million or more
  • Dedicates all revenue generated from these taxes to fully fund equalization aid grants under section 10-262h of the general statutes
  • Applies only to residential real property above the $1.5 million threshold, creating a progressive tax structure for higher-value homes

Legislative Description

An Act Concerning A State-wide Property Tax On Certain Residential Real Property.

Last Action

Public Hearing 02/27

2/17/2023

Committee Referrals

Finance, Revenue and Bonding1/19/2023

Full Bill Text

No bill text available