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SB 738

AN ACT ESTABLISHING A HOMESTEAD PROPERTY TAX EXEMPTION.

2025 Regular Session Introduced by Larry Butler and 1 co-sponsor

Connecticut bill creates homestead property tax exemption for primary residences, reducing homeowner tax burden but requiring clarification on eligibility, exemption percentage, and revenue replacement mechanisms.

PUBLIC HEARING 0226
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Bill Summary · SB 738

Legislative bill overview

SB 738 would establish a homestead property tax exemption in Connecticut, allowing eligible homeowners to reduce their property tax burden on their primary residences. The bill is currently in the Finance, Revenue and Bonding Committee after being referred on January 17, 2025, with a public hearing scheduled for February 26, 2025.

Why is this important

Property taxes are a significant expense for Connecticut homeowners, particularly affecting middle and lower-income households. A homestead exemption could provide meaningful relief to owner-occupied homes while potentially shifting tax obligations to commercial properties or increasing burdens on non-primary residences, making this a consequential fiscal and equity issue for the state.

Potential points of contention

  • Revenue impact: The exemption will reduce municipal tax revenue unless other revenue sources increase, potentially affecting school funding and local services
  • Eligibility criteria: Defining which properties qualify (income limits, property value caps, percentage exemption) determines who benefits and how significantly
  • Funding mechanism: Whether the state reimburses municipalities for lost revenue or municipalities absorb the loss locally will determine fairness across districts

Compiled from official sources — confirm details with the bill’s official record.

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