Mansion Tax ….?????
CT Representative Tim O’Brien (24th district) has submitted a bill (HB 5170) to tax mansions in CT.
The bill would impose a State Property Tax on homes worth $1 million or more. For those who have primary residential addresses outside of CT, they can avoid the tax by paying CT State Income Tax as if they were a resident of CT. This means they would be paying full income tax in their home State and in this state.
Can you hear the ‘sucking sound’ as our wealthy parttime and weekend residents here in NW CT sell and leave?
This is a great move for our local economy and I hope our local legislators will support it … NOT!!!