AN ACT CONCERNING THE REBASING OF THE EDUCATION COST SHARING GRANT FORMULA FOR PURPOSES OF PROPERTY TAX RELIEF.

Plain English Breakdown

The official source does not specify the exact mechanism by which towns can lower their property tax rates, only that it is allowed. The candidate explanation's claim about lowering property tax rates based on increased funding was removed due to lack of supporting detail in the official text.

Act to Lower Property Taxes Through Education Grants

This act aims to lower property taxes by changing how much money towns receive from the state for education grants, which will increase over five years and adjust for inflation.

What This Bill Does

• Increases the base amount of money that towns receive from the state for education grants over a period of five years.
• Adjusts this base amount each year to match changes in inflation.

Who It Names or Affects

• Towns and cities that receive education cost-sharing grants from the state.
• Residents who pay property taxes in those towns and cities.

Terms To Know

Foundation amount

The base amount of money a town receives for education grants, which will increase over time.

Inflation

An increase in prices and fall in the purchasing value of money.

Limits and Unknowns

• It is not clear how much property taxes will be reduced for each town.
• The exact impact on local budgets and education funding remains to be seen.

Official Summary Text

To reduce local property taxes by rebasing the education cost-sharing grant formula by increasing the foundation amount and adjusting for inflation.

Current Bill Text

LCO No. 659 1 of 1

General Assembly Proposed Bill No. 5076
February Session, 2026 LCO No. 659

Referred to Committee on EDUCATION

Introduced by:
REP. BOLINSKY, 106th Dist.

AN ACT CONCERNING THE REBASING OF THE EDUCATION COST
SHARING GRANT FORMULA FOR PURPOSES OF PROPERTY TAX
RELIEF.
Be it enacted by the Senate and House of Representatives in General
Assembly convened:

That (1) subdivision (9) of section 10 -262f of the general statutes be 1
amended to redefine "foundation" by (A) phasing in an increase of the 2
amount of the foundation from eleven thousand five hundred twenty -3
five dollars to eighteen thousand six hundred eighty-one dollars over a 4
five-year period, and (B) adding a provision that adjusts such amount 5
in accordance with inflation, and (2) the general statutes be amended to 6
allow a municipality to lower its property tax rate so that the reduction 7
in property tax revenue is equal to the amount of the increase in 8
equalization aid grant funding such municipality receives. 9
Statement of Purpose:
To reduce local property taxes by rebasing the education cost -sharing
grant formula by increasing the foundation amount and adjusting for
inflation.