Lamont’s budget does nothing to address the fact that Connecticut has some of the highest property taxes in the country. This massive tax burden hurts young families looking to settle down and grow; it hurts small businesses that have already been crushed by the pandemic; and it pushes seniors to find greener and cheaper pastures for retirement. The average Connecticut homeowner pays an astounding $5,327 per year — the highest property tax rate in New England. This puts us at a competitive disadvantage when our neighbors in New York and Massachusetts have more affordable property tax rates.
Nor does the governor do anything to address the structural budget deficits looming just over the hill. Instead, he reminds us we have a well-funded rainy-day fund and friends in Washington to bail us out. When your strategy is to drain your reserves and count on a global pandemic, you, in fact, have no strategy.
Author(s): Themis Klarides
Publication Date: 21 February 2021
Publication Site: Hartford Courant