doh: Tax Abatement Program

Tax Abatement Program

 

History: The 1967 Public Act 522 created the Tax Abatement Program.

 

Purpose: The Tax Abatement Program is designed to assist in the financial feasibility of privately owned nonprofit and limited dividend low and moderate-income housing projects by providing reimbursement for taxes abated up to $450 per unit per year for up to 40 years. The abatement of taxes enables the owners to maintain the rents at an affordable level for the tenants by assisting them to pay for their property taxes on the associated rental property.

 

Source of Funding: General Fund

 

Process: This program is not currently open to new applicants.

 

Statutory Link: Connecticut General Statutes, Chapter 133, Section 8-215

 

Regulatory Link: Not Applicable

 

For More Information Contact:

 

Ploynapas Thantaha

Phone: 860-270-8181

Fax: 860-706-5741

Email: Ploynapas.Thantaha@ct.gov





Content Last Modified on 10/4/2016 12:56:46 PM