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Business tax cuts will be absent from CT budget

Shifting property tax burdens provide businesses, commercial landlords some relief, leave homeowners to pay more

East Hartford Mayor Michael Walsh heard many concerns from businesses and residents during his town’s state-mandated property tax revaluation in 2021. East Hartford’s residential properties increased in value far more than commercial and industrial buildings. As a result, the town’s $136.1 million tax levy which funds a majority of East Hartford’s $211.1 million budget shifted proportionately away from commercial and industrial owners to residential property holders, who already comprise a greater percentage of the grand list.

Stock-sharing plan for workers could pass CT legislature

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