The Governor and legislative leaders have promised us a paid FMLA plan that will cost only one-half-of-one-percent of each worker’s payroll. They have also promised that the benefit will cover up to $900 or $1000 per week in lost wages for 12 – and sometimes more – weeks every year. As we demonstrated earlier ...
Surprise state property tax on second homes included in budget
Connecticut will impose a state property tax of 5 mills on secondary and vacation homes, according to figures from the latest budget proposal.
The state tax would be in addition to the local property tax already paid by homeowners and is expected to raise $32 million per year.
Under the heading of “Establish State Tax Property Tax on Seasonal and Recreational Homes,” the state property tax would affect those who keep a second home or vacation home in Connecticut.
Sen. John Fonfarra, D-Hartford, said it is estimated the tax would apply to 20,000 homes across Connecticut during a review of the revenue projections by the Finance, Revenue and Bonding Committee.
Rep. Chris Davis, R-Ellington, and ranking member of the finance committee, questioned Fonfarra on how the state would define a seasonal or recreational home.
Fonfarra could not offer any specific language but assured Davis that it would be included in the budget. Davis was concerned the law could affect real estate brokers who own multiple homes.
Davis said such a proposal was never discussed during the legislative session and is “one that needs a lot of examination depending on the definitions of things and who is truly impacted by this.”
Davis said he looks forward to debating whether or not an individual who “works hard and owns an additional home on a lake,” should be charged an extra tax.
As residents see tax refunds or payments flow in or out of their checking accounts, many low-earning Connecticut residents can expect to see tax refunds based on the Earned Income Tax Credit. The EITC supplements the wages of low-income workers by sending them a check after they file their tax ...