Jensen Supports Historic Property Tax Relief Plan
Key Takeaways
- Lawmakers propose middle-class property tax cuts to reduce the burden on Connecticut's homeowners
- Connecticut House Republicans propose targeted relief to lower residential tax bills
- Proposal includes exemptions/credits for qualifying middle-income homeowners
- Will provide relief & improve affordability while shielding families from tax hikes
HARTFORD—State Rep. Arnold Jensen (R-Oxford) joined his House Republican colleagues on Tuesday proposed the largest expansion of Connecticut's property tax credit in state history, increasing the maximum credit to $1,000 and growing eligibility for additional relief to more than 800,000 residents.
Under the Republican plan, every qualifying taxpayer would see an increase in their property tax credit. The proposal raises the maximum credit from $300 to $1,000 and sets a minimum credit of $400 for eligible filers. It also increases income eligibility thresholds by about $20,000 for single filers and $30,000 for joint filers. The plan particularly benefits joint filers by raising the eligibility threshold from $130,500 to $200,000. Under current law, thousands of these filers receive only the minimum $30 credit—or nothing at all. Overall, more than 800,000 filers would see more relief.
"One of the biggest issues facing residents are state remain the high cost of living. This increase in the property tax credit is one small step we can take to put our state on a path to being more affordable for working families. Tax relief is a priority I will always fight for in Hartford," said Rep. Jensen.
The Republican tax relief plan would use $501 million from the $1.9 billion in volatile revenue that’s targeted by Democrats who are plotting yet another off-budget fund. A chart outlining the proposed changes is below:
