Connecticut HB05093 proposes to adjust the education cost-sharing grant formula to reduce local property taxes.
Connecticut HB05093 amends the education cost-sharing grant formula by increasing the foundation amount from $11,525 to $18,681 over five years and adjusting for inflation. The bill also allows municipalities to lower property tax rates, ensuring the reduction in property tax revenue matches the increase in equalization aid grant funding. This change aims to provide property tax relief by modifying the foundation amount and its inflation adjustments.
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