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The Connecticut General Assembly's Planning and Development Committee will be holding a public hearing on March 13 at 10:00 a.m. on the following bills of interest to commercial property owners and taxpayers:
- Raised Bill No. 5477 - would amend Connecticut General Statutes ("C.G.S.") Sec. 12-65b to extend the maximum term of assessment fixing agreements with municipalities for certain types of real property from 10 to 30 years and permit such agreements for personal property as well.
- Raised Bill No. 5478 - would amend C.G.S. Sec. 12-63h to revive a previously expired land value taxation pilot program.
- Raised Bill No. 416 - would require zoning regulations to allow as of right the conversion or partial conversion of commercial buildings such as hotels, retail space and office space (but not industrial buildings) into residential developments of one or more dwelling units.
- Raised Bill No. 419 - would limit the increase in the total tax levied by a municipality in any assessment year to the lesser of the consumer price index rate or 2% of the total tax levied in the preceding assessment year. If passed, the measure would become effective with the assessment year commencing October 1, 2024.
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Alerts, commentary, and insights from the attorneys of Pullman & Comley’s Property Tax and Valuation practice with timely information for businesses, nonprofits and individuals in commercial property tax appeals and eminent domain matters.