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CT HB06888
Bill
Status
2/6/2025
Primary Sponsor
Housing Committee
Click for details
AI Summary
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Municipalities may offer property tax abatements of up to $500 per year for up to five assessment years to qualifying first-time homebuyers
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Eligibility requires the homebuyer to have purchased the property using funds from the Connecticut Housing Finance Authority (CHFA) and hold a CHFA mortgage
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Only single-family residential dwellings that serve as the owner's principal residence qualify for the abatement
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Municipal legislative bodies (or board of selectmen in town meeting towns) must approve participation in the program
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Effective October 1, 2025, applicable to assessment years beginning on or after that date
Legislative Description
An Act Concerning Real Property Tax Abatements For Certain First-time Homebuyers.
Last Action
Public Hearing 02/18
2/14/2025