Bill > SB00359

This bill allows the city of Hartford to postpone its scheduled revaluation of real property, which is the process of reassessing the value of all land and buildings for tax purposes, by one year. Normally, Hartford would be required to conduct this revaluation for the assessment year beginning October 1, 2026, as mandated by section 12-62 of the general statutes. However, this bill permits the city to delay this revaluation until the assessment year beginning October 1, 2027, as long as the city's legislative body approves this deferral. The bill also clarifies that after this deferred revaluation, subsequent revaluations will resume according to the original schedule outlined in section 12-62, picking up where the city left off before the postponement.