Hartford Business Journal: Unusual CT tax experiment could get new life
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The Hartford lawyer said he was unaware of any similar tax program in other states, and Fonfara said the bill wasn’t based on any particular example.
Carl Davis, research director for the Institute on Taxation and Economic Policy, a nonpartisan think tank, said he too was unaware of other states using the profit-based assessment method.
The program appears to be a tax incentive for businesses, Davis said, but he wondered why it would be expanded if no municipalities applied for the pilot. Testing out the profit-based method on a small number of parcels could provide some data on whether a broader program might work, he said.
“The Hartford lawyer said he was unaware of any similar tax program in other states, and Fonfara said the bill wasn’t based on any particular example.
Carl Davis, research director for the Institute on Taxation and Economic Policy, a nonpartisan think tank, said he too was unaware of other states using the profit-based assessment method.
The program appears to be a tax incentive for businesses, Davis said, but he wondered why it would be expanded if no municipalities applied for the pilot. Testing out the profit-based method on a small number of parcels could provide some data on whether a broader program might work, he said.”