Connecticut SB00101 establishes a state-wide property tax on residential real property with assessed values over three million dollars.
Connecticut SB00101 introduces a state-wide property tax on residential real property with assessed values exceeding three million dollars. The tax rates are set at 2 mills for properties valued between three and five million dollars, and 3 mills for properties valued at five million dollars or more. This bill aims to generate revenue through a tiered property tax system targeting higher-value residential real estate.
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