Yankee Institute applauds Governor Lamont’s remarks indicating his interest in property tax relief. Connecticut homeowners face property tax bills that are both higher and rising faster than they are in neighboring states.
Our state has been experimenting with gimmicks to reduce property taxes since the sounds of Brass Bonanza filled the old Civic Center every time the Whalers lit the lamp. Governor Lamont must resist the temptation to invent a new tax credit or rebate that fails to tackle the high cost of local government—”solutions” that risk disappearing when the state is short on cash.
Instead, the General Assembly should limit how quickly property taxes rise by enacting a property tax cap modeled after the successful caps in Massachusetts and New York. Legislators should next pass meaningful mandate relief empowering local officials to manage their expenses and live within the cap.
A property tax cap and mandate relief are together the best way for Governor Lamont to fulfill his 2018 pledge to tackle Connecticut’s high property taxes. Yankee Institute looks forward to working with his administration and the General Assembly to secure property tax relief for our residents, who so badly need it.