The bill, Substitute House Bill No. 6961, amends the current law regarding the issuance of certificates of correction for tangible personal property that has been assessed in error. Specifically, it extends the time frame for assessors to issue these certificates from three years to four years following the tax due date. This change applies to situations where tangible personal property was incorrectly assessed, whether due to clerical errors or incorrect information provided by the taxpayer. The bill maintains the provision that assessors can correct motor vehicle assessments at any time, and it requires that if a certificate of correction results in an increase in assessment, the taxpayer must be notified within ten days.

Additionally, the bill modifies the language in sections 12-57 and 12-60 of the general statutes, replacing the term "three" with "four" in relation to the time frame for correcting tax assessment errors. However, it does not extend the three-year period for taxpayers to claim refunds resulting from these corrections. The bill is set to take effect on July 1, 2025, and is expected to have a fiscal impact that varies based on the nature of the assessment errors corrected by municipalities.

Statutes affected:
PD Joint Favorable Substitute: 12-60
File No. 619: 12-60