Plain English Breakdown
While the bill passed both chambers, it was referred to a committee and no final enactment or signing by the governor is shown in the text.
Calculating State Forest Land Value for Tax Payments
This law changes how the state counts its own forests as real property when paying money to towns where more than half of their land is state forest.
What This Bill Does
- Changes the rules for counting state forest land in certain towns.
- Requires treating this land as real property under section 12-64 for tax payment calculations.
- Applies these new calculation methods only if over fifty percent of a town's land is state forest.
Who It Names or Affects
- Towns where more than half the land inside their borders is owned by the state as forest
- The state agency that calculates grants in lieu of taxes payments
Terms To Know
- Grants in lieu of taxes
- Money the state pays to towns because it owns land there and does not pay property tax on it.
- Real property
- Land treated as taxable real estate for calculation purposes, including forests owned by the state.
Limits and Unknowns
- The bill does not say how much money will change for any specific town.
- The text does not list which towns currently meet the fifty percent rule.
- The effective date of this law is not provided in the source material.