[Adopted 8-1-2016 by
the Board of Selectmen]
In accordance with Section 12-63c(a) of the Connecticut General
Statutes, the owner of real property used primarily for the purpose
of producing rental income shall annually submit to the Assessor,
not later than the first day of June, the best available information
disclosing the actual rental and rental-related income and operating
expenses applicable to such property, as may be required by the Assessor
in the conduct of any appraisal of such property pursuant to the capitalization
of net income method, as provided in Section 12-63b of the Connecticut
General Statutes. Submission of such information may be required whether
or not the Town is conducting a revaluation of all real property pursuant
to Section 12-62 of the Connecticut General Statutes. All information
received by the Assessor shall be subject to audit by the Assessor
or a designee of the Assessor.
The Assessor may grant an extension of not more than 30 days to submit the information set forth in § 247-40, provided the owner files a request for an extension with the Assessor not later than the first day of May; and the Assessor determines that there is good cause for granting such extension.
The Assessor may require additional verification from the owner
if the Assessor determines that the initial information provided does
not appear to reflect actual rental and rental-related income or operating
expenses related to the current use of such property.
An owner who either fails to submit the information required in accordance with § 247-40 or submits information in incomplete or false form with intent to defraud shall be subject to a penalty equal to an increase of 10% in the assessed value of such property for such assessment year.
The Assessor or Board of Assessment Appeals shall waive such
penalty if the owner of the real property required to submit the information
required by Section 12-63c(a) of the Connecticut General Statutes
is not the owner of such property on the assessment date for the grand
list to which such penalty is added. The owner shall provide the Assessor
or Board of Assessment Appeals with evidence proving such change of
ownership. This waiver shall apply retroactive to the Grand List of
October 1, 2015.
