CT SB00452

Eliminates the board's authority to decline hearing appeals for commercial, industrial, utility, or apartment properties valued over $1 million; all appeals must be heard by the board of assessment appeals.

Requires assessors to provide appellants and the board with assessment record cards, valuation approaches, and sales analysis at least seven days before appeal hearings free of charge, with authority to reschedule hearings if information is not provided timely.

Mandates board notification of appeal determinations within one week with written reasons and information about appeal rights to Superior Court.

For Superior Court appeals of properties valued at $7 million or more filed on or after July 1, 2024, requires applicants and assessors to engage in mediation within 120 days and file appraisals 120 days after mediation concludes without agreement.

Reduces penalty for rental property owners who fail to submit income and expense information to the assessor from a 10 percent increase in assessed value to a flat $500 penalty, effective July 1, 2024.