OLR Bill Analysis

HB 7185

AN ACT EXEMPTING LEASED MUNICIPAL PROPERTY FROM TAXATION.

SUMMARY

This bill expands the local property tax exemption for municipal property to include real and personal property leased to a municipality that is used for a public purpose and located in the municipality, including taxable motor vehicles.

Under current law, the exemption applies to real and personal property owned by or held in trust for a municipality that is used for public purposes.

EFFECTIVE DATE: October 1, 2017

COMMITTEE ACTION

Planning and Development Committee

Joint Favorable

Yea

22

Nay

0

(03/17/2017)