Loading chat...

CT SB00741

Bill

Official Source

Status

Introduced

1/17/2025

Primary Sponsor

Martin Looney

Click for details

Origin

Senate

2025 General Assembly

AI Summary

  • Establishes a state-wide property tax on high-value residential real property with assessed values exceeding $3 million
  • Sets tiered mill rates: 2 mills for properties assessed $3-5 million, 3 mills for $5-10 million, and 4 mills for $10 million or more
  • Dedicates all revenue generated to fully fund equalization aid grants under section 10-262h of the general statutes
  • Introduced by Senator Looney (11th District) and referred to the Finance, Revenue and Bonding Committee

Legislative Description

An Act Concerning A State-wide Property Tax On Certain Residential Real Property.

Last Action

Public Hearing 02/26

2/20/2025

Committee Referrals

Finance, Revenue and Bonding1/17/2025

Full Bill Text

No bill text available