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Sharkey shakes up property tax system with reverse PILOT proposal

EAST HARTFORD, Conn. – House Speaker Brendan Sharkey told a group of business executives Friday that he wants to turn the tax system on its head by reversing the way colleges and hospitals are treated under the local property tax system.

Currently, cities and towns get a PILOT grant from the state, which refunds them about 32 percent of the property taxes those entities would be paying if they were on the tax rolls.

Under Sharkey’s proposal, colleges and hospitals could negotiate with the municipality about how much they should be paying in property taxes based on the benefit they bring to the community. Then the colleges and hospitals could apply for a grant from the state to offset some of those taxes.

“At least in this case the towns have the leverage,” Sharkey said.

See the complete story at CT News Junkie.

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