Connecticut General Statutes|Sec. 12-88a. Application of property tax to real property acquired by a quasi-public agency but not held or used for purposes of such quasi-public agency.

                                                

Sec. 12-88a. Application of property tax to real property acquired by a quasi-public agency but not held or used for purposes of such quasi-public agency. (a) As used in this section, “quasi-public agency” has the meaning as provided in subdivision (1) of section 1-120.


(b) Notwithstanding any other provision of the general statutes exempting real property owned by a quasi-public agency from municipal property taxation, any real property acquired by a quasi-public agency for future use which is not during an assessment year held or used in furtherance of one or more purposes of such quasi-public agency under any provision of the general statutes or any other public purpose shall be subject to property taxation for such assessment year in the municipality in which such property is located provided each of the following conditions is satisfied: (1) Such property has been owned of record by the quasi-public agency for a period of at least one year prior to and including the assessment date for such assessment year, (2) such property is used during such assessment year for an income producing purpose, (3) such property would be subject to real property taxation under this chapter but for its ownership by the quasi-public agency, and (4) grants or payments in lieu of property taxes are not otherwise being made to the municipality with respect to such property by the quasi-public agency, the state or any other person pursuant to law or any agreement with such municipality.


(P.A. 03-246, S. 1.)


History: P.A. 03-246 effective October 1, 2003, and applicable to assessment years commencing on or after that date.

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