Senate Bill No. 452, also known as File No. 600, proposes amendments to the property tax appeals process and the penalty for not submitting income and expense information for rental properties. The bill ensures that all appeals for properties with an assessed value over one million dollars are heard by the board of assessment appeals, removing the previous option for the board to elect not to conduct a hearing. It extends the notice period for hearing dates to at least ten days before the hearing and requires assessors to provide assessment record cards and valuation information to appellants at least seven days before the hearing at no charge. If the information is not provided in time, appellants can request a rescheduled hearing. The bill also outlines the board's authority to adjust the grand list and the process for increasing or decreasing assessments.

Additionally, the bill modifies the process for property tax assessment appeals brought to Superior Court, including a requirement for mediation and an appraisal process for high-value property appeals. It changes the penalty for property owners who fail to submit or submit false income and expense information from a 10% increase in the property's assessed value to a flat $500 fee. The bill's fiscal impact statement indicates potential costs and revenue changes for municipalities, with no state impact. The bill, which received a joint favorable vote from the Finance, Revenue and Bonding Committee, is set to take effect on July 1, 2024, and amends sections 12-111, 12-117a, and 12-63c of the current law.

Statutes affected:
Raised Bill: 12-111, 12-117a
FIN Joint Favorable: 12-111, 12-117a
File No. 600: 12-111, 12-117a