OFFICE OF FISCAL ANALYSIS

Legislative Office Building, Room 5200

Hartford, CT 06106 (860) 240-0200

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

sHB-5581

AN ACT CONCERNING SEWER ASSESSMENT APPEALS AND THE APPROVAL OF CERTAIN PROPERTY TAX EXEMPTIONS.

AMENDMENT

LCO No.: 4970

File Copy No.: 508

House Calendar No.: 301

Senate Calendar No.: 429


OFA Fiscal Note

State Impact: None

Municipal Impact:

Municipalities

Effect

FY 15 $

FY 16 $

All Municipalities

Grand List Reduction

None

Potential

Explanation

The amendment expands an option for municipalities to fix property tax assessments on certain retail projects. This precludes any grand list growth resulting from any increase in the market value of these projects, which results in a loss of tax levy, given a constant mill rate.

Any impact would first occur in FY 16, due to the timing of the amendment.

The preceding Fiscal Impact statement is prepared for the benefit of the members of the General Assembly, solely for the purposes of information, summarization and explanation and does not represent the intent of the General Assembly or either chamber thereof for any purpose. In general, fiscal impacts are based upon a variety of informational sources, including the analyst's professional knowledge. Whenever applicable, agency data is consulted as part of the analysis, however final products do not necessarily reflect an assessment from any specific department.