Bill > SB00556

This bill proposes two key provisions: first, establishing a property tax cap that will take effect from fiscal year 2027 onwards, which limits annual property tax increases to either two percent or the rate of inflation (whichever is higher), and second, creating a task force charged with investigating and recommending the repeal of unfunded municipal mandates. An unfunded municipal mandate is a state or federal requirement that local governments must implement without providing the necessary financial resources to do so. The task force will be required to submit its recommendations about these mandates by January 1, 2026. By implementing the property tax cap, the bill aims to provide property owners with some predictability and protection against rapid increases in their annual property tax bills, while the task force represents an effort to address financial burdens placed on municipalities by regulations that do not come with corresponding funding.

Housing and Urban Affairs

https://www.cga.ct.gov/asp/cgabillstatus/cgabillstatus.asp?selBillType=Bill&bill_num=SB00556&which_year=2025