CT HB05273

Changes the deadline for municipal assessors to certify tax revenue claims from July 1 to the same date annually, and shifts responsibility from tax collectors to assessors for preparing mill rate and tax levy statements by July 1, 2024.

Modifies property assessment revaluation phase-in requirements by reducing the minimum factor from 25% to 20% for assessment years beginning on or after October 1, 2024.

Increases the state financial assistance threshold for nonstate entities requiring audits from $300,000 to $500,000, effective July 1, 2024.

Establishes new provisions for municipal tier designations, including allowing the Municipal Finance Advisory Commission to directly designate Tier I municipalities and requiring five-year financial plans for such designated municipalities.

Changes the application deadline for elderly renter property tax relief grants from October 1 to September 30, removes extension provisions, and modifies grant distribution timelines and payment processes.