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CT HB05514
Bill
Status
3/26/2024
Primary Sponsor
Finance, Revenue and Bonding Committee
Click for details
AI Summary
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Homeowners who qualify for the Circuit Breaker property tax relief program (section 12-170aa) for fiscal year 2025-2026 receive an additional tax reduction beyond the existing maximum allowable amount
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Additional tax reductions are tiered by income: $300 for income $0-$22,000; $250 for $22,000-$29,500; $200 for $29,500-$36,700; $150 for $36,700-$43,800; $100 for $43,800-$53,400
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The Secretary of the Office of Policy and Management may reimburse municipalities for lost property tax revenue from these additional reductions, subject to available appropriations
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Effective date is July 1, 2025
Legislative Description
An Act Concerning An Additional Tax Reduction For Eligible Homeowners Under The Circuit Breaker Property Tax Relief Program.
Last Action
File Number 564
4/18/2024