It’s important to occasionally challenge some of the conventional wisdom about our perceived economic backwardness in Connecticut. Two recent national studies give a glimpse - surprising as it may be - at some good news.
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The Property Tax, which is collected by municipalities, has the largest tax impact on Connecticut households.
The Property Tax’s $7.3 billion impact equates to almost 42% of the entire tax incidence. The Personal Income Tax accounts for 1/3 of the tax incidence, Sales and Use is almost 15% and Excise Taxes are 4%.
A project of 1000 Friends of Connecticut, the Property Tax Working Group shares the latest news, perspectives and relevant background as issues are considered by state policymakers.
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