OLR Bill Analysis

HB06675

AN ACT CONCERNING A MUNICIPAL OPTION FOR PROPERTY TAX ABATEMENTS FOR ARTS AND CULTURE.

SUMMARY

This bill authorizes municipalities, by vote of their legislative bodies (or board of selectmen where the town meeting is the legislative body), to establish a property tax relief program for property used for arts or culture, including art galleries, art studios, installation galleries, performance venues, and retailers catering to or relating to the arts. Under their programs, municipalities may abate up to 100% of property taxes due on such property.

Under existing law, real and personal property used exclusively for scientific, educational, literary, historical, or charitable purposes is exempt from property taxes (CGS 12-81(7)).

EFFECTIVE DATE: October 1, 2017, and applicable to assessment years beginning on or after that date.

COMMITTEE ACTION

Planning and Development Committee

Joint Favorable

Yea

21

Nay

0

(03/24/2017)