HB 5284

General Assembly  Substitute Bill No. 5284
   February Session, 2026
 AN ACT CONCERNING PROPERTY TAX ABATEMENT FOR CERTAIN
 FIRST-TIME HOMEBUYERS.
 Be it enacted by the Senate and House of Representatives in General
 Assembly convened:
1      Section 1. (NEW) (Effective October 1, 2026, and applicable to assessment
2   years commencing on or after October 1, 2026) Any municipality may, upon
3   approval by its legislative body or, in any town in which the legislative
4   body is a town meeting, by the board of selectmen, adopt an ordinance
5   allowing for the abatement of up to five hundred dollars, for a period
6   not exceeding five assessment years, of the real property taxes due upon
7   any residential property owned by a person who purchased such
8   property with funds provided to qualified first-time homebuyers by the
9   Connecticut Housing Finance Authority and which property is
10   encumbered by a mortgage financed, directly or indirectly, by the
11   Connecticut Housing Finance Authority. For the purposes of this
12   section, "residential property" means a single-family residential
13   dwelling that is the principal residence of the owner of such property.
  This act shall take effect as follows and shall amend the following
  sections:
  Section 1    October 1, 2026, and        New section
  applicable to assessment
  years commencing on or
  after October 1, 2026
 LCO  1 of 2
  Substitute Bill No. 5284
PD    Joint Favorable Subst.
LCO  2 of 2