Connecticut HB05077 proposes to lower local property taxes by adjusting the education cost-sharing grant formula.
Connecticut HB05077 amends the education cost-sharing grant formula to reduce local property taxes. It increases the foundation amount from $11,525 to $18,681 over five years and adjusts for inflation. This change allows municipalities to lower their property tax rates, ensuring the reduction in property tax revenue matches the increase in equalization aid grant funding.
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