OFFICE OF FISCAL ANALYSIS

Legislative Office Building, Room 5200

Hartford, CT 06106 (860) 240-0200

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

sHB-6943

AN ACT DELAYING A MUNICIPAL TAX REVALUATION DEADLINE.

AMENDMENT

LCO No.: 6935

File Copy No.: 288

House Calendar No.: 184


OFA Fiscal Note

State Impact: None

Municipal Impact: None

Explanation

The amendment allows municipalities to use a certain type of reserve fund (referred to as “reserve funds for capital and nonrecurring expenditures “) for costs associated with property tax revaluations.

The amendment has no fiscal impact as it does not change the costs associated with revaulation.

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.