PA 14-96—sHB 5348 (VETOED)

Planning and Development Committee

AN ACT CONCERNING THE CONSIDERATION OF PROPERTY VALUES WHEN DETERMINING ELIGIBILITY FOR A CERTAIN PROPERTY TAX RELIEF PROGRAM

SUMMARY: The law provides a “circuit breaker” property tax credit for certain income-eligible homeowners who are seniors or have disabilities. This act allows municipalities to adopt an ordinance limiting the credit based on the value of the property for which the homeowner is seeking the credit. Under the act, the property's value is determined according to its present true and actual value (i. e. , full market value) on the municipality's most recent grand list.

The circuit breaker program entitles senior or disabled homeowners to a property tax credit of up to $1,250 for married couples and $1,000 for single persons. An applicant must (1) be age 65 or older or disabled, have a spouse who is age 65 or older, or be at least age 50 and a surviving spouse of someone who at the time of his or her death was eligible for the program; (2) occupy the property as his or her home; and (3) have resided in Connecticut at least one year before applying for benefits. The income limit is adjusted annually. Qualifying 2014 income is $41,600 for married couples and $34,100 for single persons (CGS 12-170aa(c)).

EFFECTIVE DATE: October 1, 2014, and applicable to assessment years starting on and after that date.

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