Bill > HB06543

This bill proposes to amend title 12 of the general statutes to limit property tax increases for senior citizens and individuals with fixed incomes. Specifically, the bill would cap property tax increases at a maximum percentage equal to the most recent Social Security benefit percentage increase. This means that for eligible individuals, their property tax burden would not be allowed to rise by more than the annual cost-of-living adjustment (COLA) provided by Social Security. The purpose of this legislation is to provide financial relief to seniors and those on fixed incomes who may struggle with rising property tax costs, ensuring that their tax increases do not outpace their modest income increases. By tying property tax increases to the Social Security COLA, the bill aims to create a more predictable and manageable tax environment for vulnerable populations who might otherwise be at risk of being priced out of their homes due to escalating property taxes.

Housing and Urban Affairs

https://www.cga.ct.gov/asp/cgabillstatus/cgabillstatus.asp?selBillType=Bill&bill_num=HB06543&which_year=2025