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Form 4952 for Waterbury Connecticut: What You Should Know

State Budget — City of Hartford Dec 15, 2019, Final STATE BUDGET FOR THE FOLLOWING FISCAL YEARS — City of Hartford Oct 1, 2025 — The board of supervisors recommends a revised state agency budget for the fiscal year beginning July 1, 2022. In addition, the board adopts the following budget measures to be sent to legislative committees: • The board adopts a new tax rate of 13% on the gross income of the City of Hartford resident with a taxable income of 300,000 or more. • The board extends the temporary extension to the residential owner of tax-exempt real property that was authorized by chapter 6 of this act for two years beginning July 1, 2022, until July 1, 2023, which is not subject to reclassification by chapter 63 of the acts. • This budget replaces Chapter 83 of the acts with a new, revised charter that provides the following additional provisions: • The tax rate for 2025 is 13%. • The city clerk is permitted to sell tax-exempt real property from time to time. • The city may establish an increase in the tax rate for a property owner's taxable income, such that the maximum annual rate is increased from 13% to 20%. • The board has the power of eminent domain to acquire by eminent domain any property tax-exempt real property for the construction of a park, trail, or other city-owned project for the benefit of the City of Hartford. • The board of supervisors is authorized to issue general obligation bonds in an amount not to exceed 1,000,000,000 for the purposes indicated in Chapter 82 of the act. In addition, if the General Assembly, by a two-thirds vote, adopts a plan for the state's fiscal year beginning July 1, 2032, the board of the supervisors may appropriate amounts in the following categories: • To construct such facilities as shall best promote the economic competitiveness of the city, in accord with the goals of the state general plan and the general plan for Hartford and Hartford County, and in coordination with other cities and counties in the state; 1,000,000,000; and • To maintain such facilities as shall best promote the economic competitiveness of the city, in accord with the goals of the general plan and the general plan for Hartford and Hartford County, and in coordination with other cities and counties in the state; 250,000,000.

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