AN ACT AUTHORIZING MUNICIPALITIES TO ADOPT LAND VALUE TAXATION.


General Assembly		*Proposed Bill No. 392*
*January Session, 2009*		LCO No. 2194

Referred to Committee on Planning and Development
Introduced by:
SEN. MAYNARD, 18^th Dist. SEN. STILLMAN, 20^th Dist.

AN ACT AUTHORIZING MUNICIPALITIES TO ADOPT LAND VALUE TAXATION.

Be it enacted by the Senate and House of Representatives in General Assembly convened:

That the general statutes be amended to authorize municipalities, by vote of its legislative body; to (1) classify real estate as (A) land or land exclusive of buildings, or (B) buildings on land, and (2) establish a different rate of property tax for each class, provided the higher rate shall apply to land or land exclusive of buildings.

Statement of Purpose:

To promote economic development and responsible growth through adoption of land value taxation.