HARTFORD, Conn. – Gov. Dannel P. Malloy’s second budget proposal released earlier this week would not only reduce education funding for 139 towns, but it would eliminate most of the money lawmakers set aside last year to reduce local property taxes.
The Connecticut Conference of Municipalities said reducing the Municipal Revenue Sharing Account, which set aside a half-a-percent of the sales tax for local property tax relief, will result in tax hikes and service cuts for residential and business property taxpayers.
The supplemental budget Malloy released earlier this week reduced the amount of money in that account from about $109.3 million to $17.3 million.
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