As allowed under the provisions of Section 12-129n
of the General Statutes of Connecticut and to act upon the recommendation
of the Board of Finance to provide tax relief to certain homeowners
of the Town of Old Saybrook aged 65 or over or permanently and totally
disabled, tax relief shall be provided under the following conditions:
A. That the homeowner meet the requirements for age and/or
disability under the specific provisions of Subdivisions (1) and (2)
of Section 12-129n(a) of the General Statutes of Connecticut.
B. That the homeowner be a taxpayer of the Town of Old
Saybrook for a period of one year next immediately preceding their
receipt of tax benefits under this program.
C. That the homeowner meet the income requirements for
eligibility for tax relief under the provisions of Section 12-129b
of the General Statutes of Connecticut.
D. That the total amount of relief allowed to taxpayers
under this program for the Town of Old Saybrook fiscal year beginning
July 1, 2006, shall not exceed the sum of $65,000.
E. The relief provided under this program to a qualified
taxpayer shall not exceed an amount which, when added to relief for
such taxpayers, is eligible under the provisions of Section 12-129b
to Section 12-129d, inclusive, or Section 12-170aa of the Connecticut
General Statutes, which in the aggregate exceeds 75% of the property
tax for which such taxpayers would be liable but for the benefits
hereunder and under said above referred-to sections.
F. That if deemed necessary by the Old Saybrook Tax Assessor
and Tax Collector, by reason of time constraints, the property tax
relief program for the tax year beginning July 1, 2006, may be implemented
by certificates of correction (for the full amount of the relief)
issued with respect to the installment of taxes due and payable January
1, 2007.