The CT Mirror (https://ctmirror.org/tag/property-taxes/)
WASHINGTON – Fairfield First Selectman Mike Tetreau hopes to take advantage of a new state law aimed at blunting the impact on his town’s residents of a new cap on certain federal tax deductions. But the bold step the state has taken may face push-back from the IRS. Continue Reading →
WASHINGTON – “Blue” states like Connecticut that say they were targeted in the GOP’s federal tax overhaul are looking for ways to protect their residents from the negative impact of the new cap on the deductibility of state and local taxes. Continue Reading →
As a historic overhaul of the nation’s tax code nears the finish line, Connecticut taxpayers have deluged their accountants with questions over its impact on their households or businesses. In this Sunday conversation, Andrew Lattimer, a certified public accountant and tax specialist at the West Hartford office of BlumShapiro, explains how the new tax plan would affect Connecticut taxpayers. Continue Reading →
WASHINGTON — As House and Senate negotiators of a final tax bill worked to finish the plan Thursday, changes were made that could help Connecticut homeowners and students. A final bill would allow greater deductibililty of state and property taxers and restores some tax breaks for students lost in earlier versions of the bill. Continue Reading →
WASHINGTON — Connecticut’s accountants are frustrated that they can give clients only limited advice about a massive federal tax overhaul underway in Congress, but predict there will be more losers than winners among individual taxpayers in the state. Continue Reading →
WASHINGTON — The Senate early Saturday passed a sweeping overhaul of the federal tax code that would end the deductibility of state income taxes and eliminate other popular tax breaks while lowering tax rates for individuals and corporations. Continue Reading →
WASHINGTON – The Senate decided to go its own way in overhauling the nation’s tax code, and it’s plan would have a different impact on Connecticut taxpayers than a similar House bill. One big change is that Connecticut homeowners would no longer be able to deduct their property taxes on their federal returns. Continue Reading →
The leaders of the House and Senate Democratic majorities gave up Wednesday on adopting a new state budget before the legislature’s constitutional adjournment deadline of midnight, instead scheduling a special session for next week to finish its business for 2016. Continue Reading →
The House of Representatives approved a measure early Friday that would end a portion of the municipal tax exemption long possessed by private, nonprofit colleges and hospitals. Continue Reading →
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. Continue Reading →
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. Continue Reading →
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. Continue Reading →
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. Continue Reading →
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. Continue Reading →
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. Continue Reading →