Approving Balanced State BudgetJanuary 15, 2016
State Representative Peter Tercyak today backed a biennial budget package (HB 7061) that provides property tax relief to working families, protects the services that middle-class families rely on, and invests in a world-class transportation system to grow our economy.
“Our budget provides significant property tax relief for hardworking, middle-class families. Every town and city will receive additional state aid,” Rep. Tercyak said. “This will help relieve the property tax burden on families and small businesses right here at home.”
Beginning July 1, 2016, New Britain will receive additional state funding, mainly from state sales tax revenue that will be directed toward municipalities for property tax relief. New Britain will receive an additional $5,804,408.
The budget institutes a cap of 29.36 mills on the rate cities and towns use to levy car taxes. Since the state will cover any lost revenue to municipalities with higher mill rates, it’s a win for taxpayers and cities and towns.
Facing projected deficits over the next two years, over a billion dollars of cuts have been made to the current services budget. The budget also ensures significant investments in Connecticut’s crumbling transportation infrastructure, including improvements to roads, bridges and rail.
Rep. Tercyak said, “We made the difficult choices necessary to cut more than a billion dollars over next two years – and we did it while maintaining the services important to middle class families, lowering the property tax burden, and investing in Connecticut’s future.”