Connecticut SB00447 allows municipalities to exempt up to $50,000 of the assessed value of owner-occupied single-family homes from property tax.

Connecticut SB00447 establishes a homestead property tax exemption for owner-occupied single-family dwellings that are the primary residences of the owners. The exemption applies to the assessed value of the property, up to $50,000. Municipalities can implement this exemption upon approval by their legislative body or, in towns with a town meeting, by the board of selectmen. The bill also allows municipalities to set a term of residency for owners to be eligible for the exemption. This act amends existing sections and takes effect from passage.

Connecticut SB00447 allows municipalities to exempt up to $50,000 of the assessed value of owner-occupied single-family homes from property tax.

Connecticut SB00447 establishes a homestead property tax exemption for owner-occupied single-family dwellings that are the primary residences of the owners. The exemption applies to the assessed value of the property, up to $50,000. Municipalities can implement this exemption upon approval by their legislative body or, in towns with a town meeting, by the board of selectmen. The bill also allows municipalities to set a term of residency for owners to be eligible for the exemption. This act amends existing sections and takes effect from passage.