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Published February 02. 2021 5:38PM
In her op-ed, Democrats proposed pandemic tax hikes show what s wrong with Connecticut, (Jan. 29), Senator Somers contests that the proposed property tax surcharge falls on 75% of homeowners. The proposed tax is on property that is valued at over $430,000. The median value for owner-occupied homes according to the U.S. Census is $275,400, clearly indicating that the tax applies to far less than 75% of homeowners. She also contends that the proposed additional 1% capital gains tax applies to everyone no matter what your economic station. However, the proposal only levies that surcharge on persons with more than $500,000 in annual income. State median income according to the U.S. Dept HHS is $62,741. This additional tax would not hit everyone no matter what their economic station. And it does not apply to 401(k) retirement income. Two blatant lies meant to scare the citizens of Connecticut.