[RunD1987]

Originally Posted by MrGompers

Ask California how that's working out.

Seems pretty good. From people talked to they like it out here helps keep COL from being un-liveable. Kind of the thinking why CT should adopt something similar to Proposition 13.

[BPt111]

Originally Posted by MrGompers

Ask California how that's working out.

I like it better than Connecticut

[MrGompers]

Originally Posted by RunD1987

Seems pretty good. From people talked to they like it out here helps keep COL from being un-liveable. Kind of the thinking why CT should adopt something similar to Proposition 13.

Originally Posted by BPt111

I like it better than Connecticut

Prop 13 only benefits those who currently own property. Doesn't help whatsoever with people who are just entering the housing market and actually discourages people from selling, which in turn reduces the housing supply, which will raise housing prices in the long run.

When you pay 5k a year in property taxes, but your neighbor who has the same house pays 2k, something's wrong. This scenario is possible in California, but not in CT.

[robr2]

Originally Posted by MrGompers

Prop 13 only benefits those who currently own property. Doesn't help whatsoever with people who are just entering the housing market and actually discourages people from selling, which in turn reduces the housing supply, which will raise housing prices in the long run.

When you pay 5k a year in property taxes, but your neighbor who has the same house pays 2k, something's wrong. This scenario is possible in California, but not in CT.

True. Although real estate taxes can rise by 2% a year but it all starts at that base rate of when the house was purchased.

Perhaps MA's Prop 2-1/2 might be a better solution. Property tax revenue on existing properties cannot increase by more than 2.5%. For example, 2015 revenue is $1 million, 2016 revenue on those same properties will be $1,025,000. New construction and property improvements fall outside the 2.5% limit.

It takes some creative juggling between the tax rate and assessment to get that 2.5% balance and it doesn't mean that your taxes won't go up by more than 2.5%. I've been in this house for 22 years and have seen increases in my taxes of more than 2.5%.

[RunD1987]

Originally Posted by MrGompers

Prop 13 only benefits those who currently own property. Doesn't help whatsoever with people who are just entering the housing market and actually discourages people from selling, which in turn reduces the housing supply, which will raise housing prices in the long run.

When you pay 5k a year in property taxes, but your neighbor who has the same house pays 2k, something's wrong. This scenario is possible in California, but not in CT.

In CT paying $8K to $10K. It's not perfect be better if original assessed value was taxed.

[Stylo]

Originally Posted by RunD1987

In CT paying $8K to $10K. It's not perfect be better if original assessed value was taxed.

I pay $6k. I don't know that I'd say 8-10 is the norm.

[Matrix2791]

Originally Posted by RunD1987

In CT paying $8K to $10K. It's not perfect be better if original assessed value was taxed.

If that becomes the norm I'm definitely leaving CT!!!!! My taxes are fortunately lower than that. If you tax the original assessed value everybody's taxes are gonna go up 30%. No thanks! Aren't we currently taxed at 70% of assessed value?

[JayCT]

Originally Posted by Mike 75

I found this interesting as CT is not in the bottom 10 (or should it be top 10?) of worst run states. And CT's position has improved this year over last.

https://www.mercatus.org/statefiscalrankings

And now CNBC places Connecticut at No. 33 in their ratings for the best states to do business in. That is up from 43 last year and puts us ahead of New York (aren't they now advertising how business friendly they are now?) and Rhode Island and just below New Jersey. This kind of shows how close these ratings really are overall. Not bad, but not great either. We have a long way to go. Jay

America's Top States for Business 2017

[JayCT]

It is also good to see that the state's spending on overtime is down. This is part of the state's efforts to control spending which is hard since there is a hiring freeze in most departments. Jay

State OT spending continues downward slide | HartfordBusiness.com

[BPt111]

The city that develop is getting 500 more jobs Indeed is bring more jobs within next few years in Stamford

Indeed announces plans for several hundred new Stamford jobs - StamfordAdvocate