Conn. Gen. Stat. § 8-380

Current with legislation from the 2024 Regular and Special Sessions.

Section 8-380 - Fixing of assessments in housing development zones

Any municipality which includes an area which has been designated as a housing development zone pursuant to section 8-378 shall provide, by ordinance, for the fixing of assessments on all commercial and residential property in such zone which is improved during the period when such area is designated a housing development zone and, in the case of residential property, is occupied by families whose income is less than one hundred fifty per cent of the median family income of the municipality. Such fixed assessments shall be for a period of eleven years from the time of such improvement and the municipality shall defer any increase in assessment attributable to such improvements according to the following schedule:

Year	PercentageOf Increase Deferred

First	100
Second	100
Third	90
Fourth	80
Fifth	70
Sixth	60
Seventh	50
Eighth	40
Ninth	30
Tenth	20
Eleventh	10

(P.A. 87-378, S. 5.)