Adopted: By Board of Selectmen, December 19, 2017
Published: Hartford Courant, January 12, 2018
Effective Date: February 11, 2018
A. The Town of Bolton hereby enacts a tax stabilization for the elderly pursuant to the Connecticut General Statutes for eligible residents of the Town of Bolton with the terms and conditions provided herein. Any person who owns real property in the Town of Bolton and is liable for the payment of real property taxes to the Town of Bolton shall be entitled to tax stabilization on the annual taxes for such real property for the following fiscal year, provided that all of the following conditions are complied with:
1) Such person is 70 years of age or over by December 31 of the preceding year, and if married, his or her spouse is 65 years of age or over by December 31 of the preceding year and resides with said person, or said person is 65 years of age or over by December 31 of the preceding year and is the surviving spouse of a taxpayer who qualified for tax stabilization under this section at the time of his or her death.
2) Such person, if married, has a gross income level not in excess of $75,000 per year or if single, has an income level not in excess of $50,000 per year. Gross income shall include federal adjusted gross income or the equivalent. Gross income also includes, but is not limited to, wages, lottery winnings, taxable pensions, IRAs, interest, dividends and net rental income. Gross income shall also include interest from tax-exempt government bonds, social security or railroad retirement income, with the addition of Medicare premiums and other sources of income, including but not limited to federal supplemental security income, State of Connecticut public assistance payments, general assistance, veterans' pensions, veterans' disability payments and all other sources of income not listed.
3) Such person has owned and occupied the residence in the Town of Bolton for a period of two years and paid real estate taxes on the residence located in Bolton for a period of two years prior to his or her application for tax stabilization and does not owe delinquent taxes to the Town of Bolton. This is the primary residence which is defined as having used the residence for at least 183 days of each calendar year.
4) The property for which the exemption is claimed is the house, house lot and any auxiliary buildings located on the lot which is the legal domicile of such person. .
B. Filing. The application in a form to be approved by the Tax Assessor must be filed with the Assessor between February 1 and May 15 for tax stabilization for the next fiscal year.
C. Applicability. The tax stabilization on real property as provided herein shall apply only to the residence itself, the lot on which the residence is located and improvements on said lot.
D. Deferred amount. The deferred amount, that being the amount of taxes paid versus the amount of taxes that would have been owed, shall be due to the Town of Bolton upon termination from the program. Said amount, with interest, shall be a lien against the property having a priority as an ordinary tax lien. The filing fee shall be waived. The Town of Bolton shall be the primary lien holder.
E. Interest. Interest at a rate of 2% will be charged as simple interest (not compounded) on a total deferred amount of tax due each year and shall be paid to the Town upon the applicant's termination from the program.
F. Termination. If any person entitled to the tax stabilization pursuant to this section dies, sells, or transfers title to the real property on which the tax stabilization is granted, no additional tax stabilization shall be allowed for his or her interest in the property. All stabilization benefits including accrued interests shall be reimbursed to the Town of Bolton upon the death of the recipient or transfer of the real estate.
G. Periodic review. Beginning on November 15, 2019, and every November 15 thereafter, the Administrative Officer and the Finance Director shall prepare a financial impact report pursuant to this section for the Board of Selectmen’s review. Beginning December 15, 2019 and annually thereafter, the Board of Selectmen shall review and approve by resolution applicable income levels.
H. The amount stabilized shall be determined by the taxes on the grand list preceding the application period and remain in effect and unchanged until termination of this section occurs or the following:
In the event that under a revaluation, and by applying the current mill rate, the tax owed on a property under this section is less than the stabilized figure granted under this section, then the Assessor shall reset the stabilized tax at the lower figure.
I. The invalidity of any word, clause, section or provision of this section shall not affect the validity of any other part which can be given effect without such invalid part or parts.
Tax Deferral Program for the Elderly
A. The Town of Bolton hereby enacts a tax stabilization for the elderly pursuant to the Connecticut General Statutes for eligible residents of the Town of Bolton with the terms and conditions provided herein. Any person who owns real property in the Town of Bolton and is liable for the payment of real property taxes to the Town of Bolton shall be entitled to tax stabilization on the annual taxes for such real property for the following fiscal year, provided that all of the following conditions are complied with:
1) Such person is 70 years of age or over by December 31 of the preceding year, and if married, his or her spouse is 65 years of age or over by December 31 of the preceding year and resides with said person, or said person is 65 years of age or over by December 31 of the preceding year and is the surviving spouse of a taxpayer who qualified for tax stabilization under this section at the time of his or her death.
2) Such person, if married, has a gross income level not in excess of $75,000 per year or if single, has an income level not in excess of $50,000 per year. Gross income shall include federal adjusted gross income or the equivalent. Gross income also includes, but is not limited to, wages, lottery winnings, taxable pensions, IRAs, interest, dividends and net rental income. Gross income shall also include interest from tax-exempt government bonds, social security or railroad retirement income, with the addition of Medicare premiums and other sources of income, including but not limited to federal supplemental security income, State of Connecticut public assistance payments, general assistance, veterans' pensions, veterans' disability payments and all other sources of income not listed.
3) Such person has owned and occupied the residence in the Town of Bolton for a period of twoyears and paid real estate taxes on the residence located in Bolton for a period of two years prior to his or her application for tax stabilization and does not owe delinquent taxes to the Town of Bolton. This is the primary residence which is defined as having used the residence for at least 183 days of each calendar year.
4) The property for which the exemption is claimed is the house, house lot and any auxiliary buildings located on the lot which is the legal domicile of such person. .
B. Filing. The application in a form to be approved by the Tax Assessor must be filed with the Assessor between February 1 and May 15 for tax stabilization for the next fiscal year.
C. Applicability. The tax stabilization on real property as provided herein shall apply only to the residence itself, the lot on which the residence is located and improvements on said lot.
D. Deferred amount. The deferred amount, that being the amount of taxes paid versus the amount of taxes that would have been owed, shall be due to the Town of Bolton upon termination from the program. Said amount, with interest, shall be a lien against the property having a priority as an ordinary tax lien. The filing fee shall be waived. The Town of Bolton shall be the primary lien holder.
E. Interest. Interest at a rate of 2% will be charged as simple interest (not compounded) on a total deferred amount of tax due each year and shall be paid to the Town upon the applicant's termination from the program.
F. Termination. If any person entitled to the tax stabilization pursuant to this section dies, sells, or transfers title to the real property on which the tax stabilization is granted, no additional tax stabilization shall be allowed for his or her interest in the property. All stabilization benefits including accrued interests shall be reimbursed to the Town of Bolton upon the death of the recipient or transfer of the real estate.
G. Periodic review. Beginning on November 15, 2019, and every November 15 thereafter, the Administrative Officer and the Finance Director shall prepare a financial impact report pursuant to this section for the Board of Selectmen’s review. Beginning December 15, 2019 and annually thereafter, the Board of Selectmen shall review and approve by resolution applicable income levels.
H. The amount stabilized shall be determined by the taxes on the grand list preceding the application period and remain in effect and unchanged until termination of this section occurs or the following:
In the event that under a revaluation, and by applying the current mill rate, the tax owed on a property under this section is less than the stabilized figure granted under this section, then the Assessor shall reset the stabilized tax at the lower figure.
I. The invalidity of any word, clause, section or provision of this section shall not affect the validity of any other part which can be given effect without such invalid part or parts.