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CT HB05167
Bill
Status
Engrossed
5/1/2024
Primary Sponsor
Planning and Development Committee
Click for details
AI Summary
- Allows Connecticut municipalities to abate up to $500 in real property taxes for first-time homebuyers who received financing from the Connecticut Housing Finance Authority
- Tax abatement applies only to single-family residential dwellings that serve as the owner's principal residence and are encumbered by a mortgage from the Connecticut Housing Finance Authority
- Abatement period cannot exceed five assessment years
- Municipal approval required from the legislative body or, in towns with town meetings, from the board of selectmen
- Effective October 1, 2024, and applicable to assessment years commencing on or after October 1, 2024
Legislative Description
An Act Concerning Property Tax Abatement For Certain First-time Homebuyers.
Last Action
Senate Calendar Number 432
5/3/2024
Committee Referrals
Planning and Development2/15/2024
Full Bill Text
No bill text available