Connecticut’s low- and middle-income households could pay tens of millions of dollars less in federal taxes each year while state officials simultaneously gain access to a wealth of new economic data. But for that to happen, according to one of the state’s leading economists, Connecticut officials first take a fiscal leap of faith – and repeal arguably the state’s most popular tax break.
property tax
Posted inMoney, Politics
Foley, Malloy, vie for municipal leaders’ support
Connecticut’s gubernatorial contenders battled Tuesday for the support of local mayors and first selectmen, pledging to preserve municipal aid and to ease pressure on property taxpayers.
Posted inMoney, Politics
McKinney pitches middle-class tax break, less aid for poor
Republican gubernatorial contender John P. McKinney unveiled a plan Thursday to exempt all households earning less than $75,000 per year from the state income tax. But the proposal hinges on several controversial elements, including repeal of a tax credit that saves working poor families almost $120 million per year.
Posted inPolitics
Malloy vetoes bills on tax circuit-breaker, fallen tree limbs
Gov. Dannel P. Malloy vetoed two more bills Monday, rejecting measures regarding the municipal property tax circuit-breaker program and the cost of removing fallen tree limbs.
Posted inPolitics
Sharkey’s property tax compromise dies in the Senate
House Speaker J. Brendan Sharkey, D-Hamden, made a last-ditch effort Wednesday to pass a compromise version of his bill to limit the property-tax exemption for non-profit institutions, but it died amid an ice-cold reception from senators and red-hot opposition from colleges.
Posted inEducation, Money, Politics
Horse-trading on Derby day: preschool for property taxes?
The state House of Representatives took a step Saturday toward curbing the property-tax exemption enjoyed by nonprofit hospitals and colleges — and what the House members hope will be a bigger step toward improving relations with the Senate.
Posted inMoney, Politics
Is it time to overhaul Connecticut’s tax system?
Rep. Patricia Widlitz, D-Guilford, is co-chairwoman of the Finance Committee. What’s the fairest way for Connecticut to raise $15 billion in taxes each year? Who should pay more? Is $15 billion too much? Too little? And how does the tax system affect the state’s economic competitiveness? These are just a few of the questions that […]
Posted inCT Viewpoints
Op-ed: Connecticut’s taxing dilemma
When a state relies excessively on local property taxes to fund governmental services, as does Connecticut, it’s reasonable to begin working to fix what House Speaker Brendan Sharkey has termed a “broken” tax system.
Posted inMoney, Politics
Speaker says CT may need to cap property taxes to fix town budgets
Legislators should brace for a landmark debate next year on how Connecticut finances local services, including capping property taxes and shifting municipal expenses onto the state’s back, House Speaker J. Brendan Sharkey said Friday.
Posted inCT Viewpoints
Op-ed: Connecticut: It’s time to tackle taxes
We must look at fixing possibly the biggest single barrier to Connecticut’s grabbing hold of its bright future … our badly broken, antiquated, unfair tax system.
Posted inCT Viewpoints
Op-ed: Revamp CT’s property tax system to overcome inequity, inefficiency
This should be the year policymakers start to revamp the state’s property tax structure. We know the system is unfair, and there is a clear path forward to fix it.
Posted inEducation, Health, Money
House Speaker: Make CT colleges and hospitals pay property taxes
House Speaker J. Brendan Sharkey says it’s time for hospitals and private colleges to pay property taxes.