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On April 22, 2021, the Connecticut General Assembly’s Finance, Revenue and Bonding Committee released a budget revenue proposal for fiscal years 2022 and 2023, which was later passed out of the Committee. To help individuals wade through the revenue package, we've put together a brief analysis examining the impacts on state revenue of the Finance, Revenue and Bonding Committee's proposal.

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State Revenue & Spending

This frequently asked questions document addresses many of the questions that have been raised surrounding the payroll tax proposed and designed by the Connecticut School Finance Project, which would serve as a partial replacement for the state income tax and help reduce individual and business tax burdens as well as mitigate the impact of recent federal tax changes on Connecticut taxpayers.

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less than 1 minute

State Revenue & Spending

In fiscal year 2015, property taxes accounted for 38 percent of total state and local revenues in Connecticut. This frequently asked questions document looks at Connecticut's property tax system and discusses common property tax features such as a split roll tax, homestead tax exemption, a meaningful property tax circuit breaker, or an assessment schedule that ensures accurate grand list valuations.

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Taxes

This policy briefing introduces and examines how the State of Connecticut can replace a portion of the state income tax with a payroll tax on all W-2 wages to mitigate the negative impacts of federal tax changes on Connecticut taxpayers, and potentially yield more state revenue while reducing the federal tax liabilities of Connecticut residents.

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Taxes

This report provides an overview of the basic features and structures found in property tax systems across the United States. Additionally, the report summarizes and analyzes the property tax systems of Connecticut and several of its regional peer states (Vermont, Massachusetts, Maryland, and Pennsylvania). Each state overview offers a summary of specific components of the respective state’s property tax system, including taxing authorities, property assessment, taxation rates, and tax exemptions and/or relief programs.

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less than 1 minute

Taxes

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