On March 10, 2023 at 11:00 a.m., the Connecticut General Assembly’s Planning and Development Committee will hold a public hearing on the following bills of interest to both commercial and residential taxpayers:
- Senate Bill No. 1142 would reduce the annual rate of interest that municipalities can charge on delinquent property taxes from the current 18% to 12%.
- House Bill No. 6801 would revise the laws applying to the annual filing of income and expense reports by the owners of properties that are primarily rental income producing. These reports are required to be filed with municipalities by June 1 of each year for the preceding calendar year. The bill would revise and clarify current provisions regarding the extension of the June 1 deadline as well as the imposition of the 10% assessment penalty for the failure to timely file the report. It would also make clear that the postmark rule applies to the filing of the reports.
- Senate Bill No. 1137 would authorize municipalities to levy a tax of up to 2% on the rent collected on short term property rentals within their borders. This proposed tax is noteworthy because it would provide municipalities with an additional revenue stream that is based on something other than the value of real and business personal property.
The text of these bills and details about how interested parties can participate in the public hearing can be found at https://www.cga.ct.gov/.
Please feel free to contact any members of Pullman's Property Tax and Valuation Practice (Laura Cardillo, Brian McCann, Elliott Pollack, Greg Servodidio or Michael Marafito) with any property tax questions that you may have.
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