In the event of a general revaluation by any
such municipality in the year in which such improvement is completed,
resulting in any increase in the assessment on such property, only
that portion of the increase resulting from such improvement shall
be deferred. In the event of a general revaluation in any year after
the year in which such improvement is completed, such deferred assessment
shall be increased or decreased in proportion to the increase or decrease
in the total assessment on such property as a result of such revaluation.
No improvement of any real property which qualifies
as a manufacturing facility under § 32-9p(d) of the Connecticut
General Statutes shall be eligible for any fixed assessment pursuant
to this article.
[Added 9-19-1988; amended 3-6-1989]
Residential and commercial property in the enterprise zone which is either newly constructed or rehabilitated subsequent to April 16, 1987, shall be eligible for deferral of assessment increases resulting from such construction or rehabilitation for a seven-year period in accordance with the schedule contained in §
19-1A of this article. In order to qualify for assessment deferral under this section a project consisting of real property improvements, rehabilitation or new construction must be undertaken pursuant to a building permit issued for the project. Furthermore, in order to qualify for property tax deferral under this article, the property owner must file an application for enterprise zone tax deferral on forms available from the City's Enterprise Zone Coordinator, Tax Assessor or the Building Department. This application must be filed no later than the Grand List date for which deferral is requested, except for tax deferral applications for the October 1, 1987, and October 1, 1988, Grand Lists which have until January 31, 1989, to file.