Finally, CT moves toward reducing the regressive and unsustainable property tax as a means of paying for what New Britain and all communities need. Hats off to Speaker Sharkey, President Looney, the New Britain delegation and Governor Malloy….
by John McNamara
A tentative agreement among Democratic leaders on a biennial state budget that begins July 1st appears to be good news for New Britain and other municipalities in terms of property tax relief and continued aid to the under-funded city schools.
Late Saturday (May 31) Democratic legislative leaders and representatives of the Malloy Administration agreed on a revenue package that will drastically cut the car tax. The measure will set aside the city’s property tax rate of 49 mills on vehicles and cap the tax for cars to no more than 29 mills in a statewide formula. The levy on vehicles will be in effect for the 2015 tax year if OK’d in a final vote. At the same time the plan will designate a percentage of sales tax revenue for transportation and new funding to cities and towns to reduce burdens on property taxes.
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