HARTFORD, Conn. – He might be the Speaker of the House, but Brendan Sharkey’s proposal to get private colleges and hospitals to pay property taxes to municipalities is not a slam dunk.
Sharkey told the Planning and Development Committee on Friday that there’s a growing amount of frustration in the communities that host these institutions because they are the ones “shouldering the burden of providing these tax exemptions to these corporations.”
PILOT is an acronym for Payment In Lieu Of Taxes. It’s a program through which the state reimburses cities and towns for the portion of the municipal taxes that can’t be collected on state-owned land, colleges, hospitals, and new manufacturing equipment, all of which are exempt from local property taxes.
He said his “reverse PILOT” proposal shifts the burden from the host community to the private college or hospital because those entities will have to pay a negotiated amount of taxes to the municipality and seek reimbursement from the state.
See the complete story at CT News Junkie
Leave a Reply
You must Register or Login to post a comment.