CT HB05478

Expands the land value taxation pilot program from three municipalities to five municipalities, effective October 1, 2024.

Requires selected municipalities to develop plans that classify real estate as either land (excluding buildings) or buildings on land, with higher tax rates applied to land.

Establishes that municipalities must have legislative body approval before selection and must appoint a committee including legislative representatives, business community members, land use attorneys, and taxpayers to develop implementation plans.

Requires implementation plans to designate geographic areas where differentiated tax rates apply and identify legal and administrative issues, with submission deadline of December 31, 2027.

Prohibits municipalities that have previously participated in the pilot program from being selected again for subsequent participation.