[Adopted 1-17-2007 by Ord. No. 228; amended in its entirety 5-24-2023]
The purpose of this program is to enhance the property tax credit
provided to certain senior and permanently totally disabled taxpayers
by providing an additional tax credit with respect to real property
owned and occupied by such taxpayers as their principal residence.
The program is enacted pursuant to the option provided to municipalities
under § 12-129n of the General Statutes.
To be eligible for the tax credit a Town resident and taxpayer
must meet the eligibility requirements of § 12-129n of the
General Statutes. The resident or his/her spouse must have been a
taxpayer of the Town for one year immediately preceding his/her receipt
of property tax benefits. Property tax credits will only be given
with respect to real property owned and occupied by the taxpayer as
his/her principal residence. All taxes relating to the real property
for which the property tax credit is applied must be current prior
to application for the tax credit.
The maximum income requirements and tax credits as of the October
1, 2023, grand list shown on the attached chart. By January 30 of
each year, the upper and lower range of each of the income tiers and
the benefit amounts shall be increased or decreased by the percentage
that the current Town budget increased or decreased as compared to
the prior year's budget, provided the percentage of any such
increase shall not exceed 5%. The Board of Selectmen by an affirmative
vote of four members during the month of February may decrease the
percentage of change in the income tiers and/or the benefit amounts.
All subsequent changes to the income requirements as provided in this
section shall be reflected in revised charts to be prepared and maintained
by the Town Assessor. For the purposes of this article, income shall
include potential income that an applicant is entitled to receive
but chooses not to request, receive or accept, including, but not
limited to, undistributed income from investment retirement accounts,
trusts, annuities, stocks, bonds, certificates of deposit, and other
similar investments. In addition to federal income tax returns or
other evidence of qualifying income required to be provided with the
application, the applicant shall also provide a certification as to
potential income that such applicant is entitled to receive and all
records or reports related thereto. The provision for determining
potential income shall not include life insurance.
|
Property Tax Relief Maximum Income Requirements and Tax Credits
| |
|---|---|
|
Income — Single or Married
|
Canton Tax Credit
|
|
$0 to $20,200
|
$2,500
|
|
$20,200 to $27,100
|
$2,000
|
|
$27,100 to $33,800
|
$1,600
|
|
$33,800 to $40,300
|
$1,200
|
|
$40,300 to $49,100
|
$900
|
|
$49,100 to $55,590
|
$700
|
The total benefits provided under this program cannot exceed
a maximum of 0.50% (one-half of one percent) of the current year's
annual budget expenditures. If necessary, eligible applicants'
tax relief benefits will be prorated to conform to the 0.50% cap.
The Tax Assessor shall adopt such rules, regulations, and procedures
as deemed necessary or appropriate for the purpose of implementing
and administering the program authorized by this article. All such
rules, regulations and procedures shall be kept on file at the office
of the Tax Assessor.
The program authorized by this article shall first become effective
for taxes due on the Grand List of October 1, 2008. Any amendment
to this article shall become effective for taxes due on the Grand
List next following the adoption of any such amendment.
The Board of Selectmen shall review this article biennially
in even years and shall approve changes other than the annual adjustment
of income tiers and benefits based on changes to the Town budget,
if any, prior to August 31. Any changes to the article shall be approved
in the manner specified in the Town Charter.
