There’s no free lunch, right? But property taxes in some cities suck the financial life out of residents. CT Mirror reporter Keith Phaneuf examines the work of a legislative panel squinting to find answers.
The panel studying Connecticut’s taxes off-and-on for two years has wrapped up its work struggling to find consensus on arguably Connecticut’s most onerous levy: the municipal property tax.
Members of the State Tax Panel, composed policy experts from a host of backgrounds, agreed that the property tax hurts the poor, lacks fairness, weakens the business climate and ignores fiscal reality.
But with the exception of a new sales tax surcharge to help communities, most other major proposals to ease burdens on municipal taxpayers bogged down.
“The property tax has gotten short shrift,” Yale Law School Professor Anika Singh Lemar said during the panel’s final meeting on Dec. 15.
Full story here.
According to my latest research, $112,000 is the largest tax paid by any homeowner in Bridgeport. The silliest folks are the ones who think taxes represent an investment in their community. They don’t. They represent the reason you’re not in jail.
(wink)
*** HOUSE IN BPT’s WEST SIDE “FOR SALE;” FAIR MARKET VALUE OR BEST PRICE OFFER. *** TIME TO BLOW THIS COOP! ***