The proposed bill, General Assembly Proposed Bill No. 241, seeks to amend section 12-111 of the general statutes to establish restrictions on tax assessors regarding the assessed value of real property. Specifically, the bill prohibits tax assessors from making any increases or decreases to the assessed value of real property prior to the next scheduled revaluation, except under certain conditions. These conditions include compliance with a court order, changes in assessed value due to new construction or damage to the property, or corrections made through a certificate of correction issued by the assessor to rectify factual errors.

The intent of this legislation is to create stability in property assessments by limiting adjustments between revaluation cycles, thereby providing property owners with more predictability regarding their tax obligations. The bill aims to ensure that any changes to property assessments are justified and transparent, aligning with the outlined exceptions.