Connecticut General Statutes 8-215 – Tax abatement for housing for low or moderate-income persons
Any municipality may by ordinance provide for the abatement in part or in whole of real property taxes on any housing solely for low or moderate-income persons or families and may by ordinance classify the property on which such housing is situated as property used for housing solely for low or moderate-income persons or families. Such tax abatement shall be used for one or more of the following purposes: (1) To reduce rents below the levels which would be achieved in the absence of such abatement and to improve the quality and design of such housing; (2) to effect occupancy of such housing by persons and families of varying income levels within limits determined by the Commissioner of Housing by regulation; or (3) to provide necessary related facilities or services in such housing. Such abatement shall be made pursuant to a contract between the municipality and the owner of any such housing, which contract shall provide the terms of such abatement, that moneys equal to the amount of such abatement shall be used for any one or more of the purposes herein stated, and that such abatement shall terminate at any time when such housing is not solely for low or moderate-income persons or families.
Terms Used In Connecticut General Statutes 8-215
- Contract: A legal written agreement that becomes binding when signed.
- Housing solely for low or moderate-income persons or families: means housing, the construction or rehabilitation of which is aided or assisted in any way by any federal or state statute, which housing is subject to regulation or supervision of rents, charges or sale prices and methods of operation by a governmental agency under a regulatory agreement or other instrument which restricts occupancy of such housing to persons or families whose incomes do not exceed prescribed limits. See Connecticut General Statutes 8-202
- Municipality: means town, city or borough. See Connecticut General Statutes 8-202
- Ordinance: means an enactment under the provisions of section 7-157. See Connecticut General Statutes 1-1
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.