Jul 28, 2014
78°
Partly Cloudy

Towns: CT Relies Too Much on Property Taxes

A lobbying group wants Connecticut to rethink its tax structure.

Towns: CT Relies Too Much on Property Taxes

 

A group representing Connecticut’s 169 municipalities urges the state to change its laws because its “overdependence on the property tax is unsustainable.”

Jim Finley, chief executive officer of the Connecticut Conference of Municipalities, is pushing for a five-part plan that would give towns a cut of sales and real estate taxes in order to lessen the burden of “regressive” property taxes.

The  CCM also wants more state funding for education as well and a “payments in lieu of taxes” program to receive some state money from property owners who don’t pay any taxes – such as hospitals and universities.

In a press release, Gov. Dannel P. Malloy’s spokesperson said that the state has to look at ways to alleviate the burden of taxpayers.

“He’s especially proud that he and Democrats who supported his budget have been able to increase funding for local education and maintain overall aid to cities and towns,” said Andrew Doba. “If you look around the country, most states aren’t doing that.”

Kiplinger, a financial magazine, recently ranked Connecticut as the worst state for retirees due to high taxes.

Don’t miss updates from Patch!