Secret plans are not a common occurrence at the state Capitol, which often functions as an echo chamber. Yet a plan to scrap the state’s personal income tax in favor of a payroll tax was a largely held secret. The legislature should NOT buy a pig in a poke. At the very least, this proposal should be thoroughly vetted and the many questions it raises satisfactorily answered.
Read MoreCheck out the new report from Connecticut’s Finances: it provides updated data on property tax disparities in Connecticut, and how to fix them.
Read MoreSurprise! It turns out that when all the ways we pay for state and local government in Connecticut are taken into account, the total cost puts us in the lowest third of all states.
Read MoreA new report by Moody’s Investors Service has concluded that the federal tax law that took effect in 2018 has not led to an anticipated out-migration of Connecticut residents, at least not at first blush.
Read MoreUsed for years in foreign countries, “public-private partnerships” (known by the acronym “P3s”) of widely varying scope and magnitude have been suggested to not only use private money to finance the installation of toll devices, but to employ private companies to build transportation projects – and perhaps to own and operate them. Gov. Lamont has also expressed interest in P3s, although he has wisely recognized that the details still need to be developed
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The Property Tax, which is collected by municipalities, has the largest tax impact on Connecticut households.
The Property Tax’s $7.3 billion impact equates to almost 42% of the entire tax incidence. The Personal Income Tax accounts for 1/3 of the tax incidence, Sales and Use is almost 15% and Excise Taxes are 4%.
A project of 1000 Friends of Connecticut, the Property Tax Working Group shares the latest news, perspectives and relevant background as issues are considered by state policymakers.
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