AN ACT ESTABLISHING A LAND VALUE TAXATION PILOT PROGRAM.

OFFICE OF FISCAL ANALYSIS

Legislative Office Building, Room 5200

Hartford, CT 06106 ↓ (860) 240-0200

http: //www. cga. ct. gov/ofa

sSB-379

AN ACT ESTABLISHING A LAND VALUE TAXATION PILOT PROGRAM.

OFA Fiscal Note

State Impact:

Agency Affected	Fund-Effect	FY 10 $	FY 11 $
Policy & Mgmt. , Off.	GF - None	None	None

Note: GF=General Fund

Municipal Impact:

Municipalities	Effect	FY 10 $	FY 11 $
New London	See Below	See Below	See Below

Explanation

There is no cost to the Office of Policy and Management to approve a municipality's participation in the land value taxation pilot program. It is anticipated that the only municipality currently eligible to participate, New London, will only do so to the extent it provides adequate resources to the municipality.

The Out Years

The annualized ongoing fiscal impact identified above would continue into the future subject to inflation.