There’s an awful lot in this budget that leaves observers incredulous. About the best you can say about the two-year, $43 billion state budget adopted this week by the General Assembly is that it was approved on time and is mostly balanced, with the exception of some hoped-for savings from state employees that may or may not materialize.
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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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