property tax

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Federal tax changes further polarize debate over state income tax

Now that Congress has passed a massive federal tax overhaul, political observers here agree it could have a chilling effect on future proposals to raise the Connecticut income tax — even 14 months from now when a huge deficit looms in state finances. But liberals and conservatives were split over whether this is a good thing, as huge pressures are projected to test state finances in unprecedented fashion in the coming years. Continue Reading →

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GOP approves tax bill over opposition of CT lawmakers

WASHINGTON – The U.S. House on Thursday approved a wide-ranging overhaul of the federal tax code that will lower taxes for many in Connecticut, while hiking them for some, especially in middle-class tax brackets. The Institute for Taxation and Economic Policy said 305,000 Connecticut households earning less than $197,000 would see a tax increase under the bill. Continue Reading →

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CT tax commissioner says GOP plan would force many in state to pay more

WASHINGTON — Connecticut Commissioner of Revenue Services Kevin Sullivan says the House GOP tax bill “could provide some economic stimulus…for states like Connecticut,” but he also said the plan is “fundamentally flawed” and that many in the state would end up owing more in federal income taxes. Continue Reading →

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Coventry town manager Elsesser: Connecticut should consider the commercial activities tax

John A. Elsesser, longtime Coventry town manager, has been one of the leading figures in municipal government for nearly four decades. He understands the varied and intensifying fiscal pressures facing Connecticut and its municipalities, recognizes the need to raise revenue; and sees one possible way to do it fairly — a commercial activities tax. Continue Reading →

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Looney wants half-penny sales tax option for cities and towns

Senate President Pro Tem Martin M. Looney of New Haven called Friday for an optional local sales tax increase to help cities and towns control property tax rates. This would add a local surcharge of one-half of 1 percentage point to the existing 6.35 percent state sales tax. Continue Reading →

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Municipalities say CT’s property tax system is unsustainable

Just days after a landmark state court ruling found Connecticut’s education funding system to be “irrational and unconstitutional,” the chief lobbying group for cities and towns issued a new research paper calling the municipal property tax system “unsustainable.” Continue Reading →

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One bill to tax Yale moves forward, another dies

The legislature’s tax-writing committee Thursday approved a bill that would allow New Haven to begin taxing commercial property owned by Yale, but let die a controversial bill backed by the leader of the state Senate that would have allowed the state to tax the earnings of the Ivy League university’s multi-billion-dollar endowment. Yale has opposed both bills. Continue Reading →

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Municipalities fear big CT deficits will nix promised state aid

In light of surging state budget deficits, municipal leaders were skeptical Tuesday that their communities would receive the hundreds of millions of dollars in state sales tax receipts owed them over the next three years. The Connecticut Conference of Municipalities also used their annual lobbying day at the Capitol to urge legislators to spare them from new mandates and to postpone and reform a new municipal spending cap. Continue Reading →

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Health, labor, environment bills revived in special session

A wide range of legislative priorities that failed to clear both chambers of the General Assembly before the June 3 end of the regular session won final approval early Tuesday as part of a massive budget implementation bill. The 686-page everything-but-the-kitchen-sink bill also includes several controversial new provisions. Here’s what’s in it. Continue Reading →

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Legislators, Malloy hovering on brink of a state budget deal

Sources say legislative leaders and Gov. Dannel P. Malloy’s administration are creeping up on a tentative agreement on a new two-year budget. Few details have leaked, but the sources said spending will be less than the legislature’s Appropriations Committee has recommended, and the latest talks have centered on the taxes that will be required to balance the budget. Continue Reading →

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