MAYOR & COUNCIL PREPARED TO ACT
IF SMALL BUSINESS TAX RELIEF
DOESN’T PASS GENERAL ASSEMBLY

 

--NEWS RELEASE---

 

(June 6, 2007)--- Hartford Mayor Eddie A. Perez has called a special meeting of the Hartford Court of Common Council for noon on Friday to consider the implementation of a phase-in of property revaluation in the event the General Assembly fails to provide tax relief to Hartford’s small businesses by the end of the legislative session at midnight.

Pursuant to legislation passed by the General Assembly last year, some neighborhood businesses in Hartford will see tax increases of 50% or more, though the overall increase for all businesses in Hartford will only total about 4%.  The Mayor, the City Council and small businesses have lobbied for a delay of revaluation implementation and the convening of a study group to review options for addressing property tax issues in the city.

“I want to thank those members of the General Assembly who have worked hard on this issue that is so important to our small businesses.  I hope before the end of the session this evening, Hartford’s legislative delegation will come together to support a solution that is fair and equitable for all 2616 business properties,” Mayor Perez stated.

“If the legislature cannot reach a consensus on a solution this evening, the City Council is prepared to act in order to phase-in the revaluation under existing state statue over a five-year period to prevent a dramatic increase in taxes connected to state mandated revaluation.  This phase-in will particularly help those whose properties have increased significantly more in value since the last revaluation back in 1999. We will also convene a study group to make recommendations to the General Assembly on how to best address the difficult property tax issue in Hartford going forward,” Mayor Perez stated.