After considerable deliberation, State Representative Frank Nicastro (D-Bristol) today backed a biennial budget package (HB 7061)that provides property tax relief to working families, protects the services that middle-class families rely on, exempts military pay from state taxation, and invests in a world-class transportation system to grow our economy, said a press release from h is office.
“This budget provides significant property tax relief for hardworking, middle-class families. Every town and city will receive additional state aid,” Nicastro said, according to the press release. “This will help relieve the property tax burden on families and small businesses right here at home.”
Beginning July 1, 2016, Nicastro’s press release said, Bristol will receive additional state funding, mainly from state sales tax revenue that will be directed toward municipalities for property tax relief. Bristol will receive an additional $1,962,557.
Nicastro noted that Bristol will also receive $125,000 in additional Education Cost Sharing (ECS) funding that “is important for our schools and students,” said the Democrat’s press release.
The budget institutes a cap of 29.36 mills on the rate cities and towns use to levy car taxes, said the news release. Since the state will cover any lost revenue to municipalities with higher mill rates, the press release from the Democrats said it’s a win for taxpayers and cities and towns.
“The new cap on car tax could mean an estimated savings of $600,000 city wide on Bristol families that own cars,” Nicastro said, according to the press release from the Democrats.
“I worked very hard to score an important victory for our veterans and their families,” Nicastro said. “There is a provision in the budget that exempts our veterans from state taxation on their military retirement pay, something I have been fighting for and we have achieved this year.”
Nicastro said, according to the press release, “We made the difficult choices necessary to cut more than a billion dollars over next two years – and we did it while maintaining the services important to middle class families, lowering the property tax burden, and investing in Connecticut’s future.”
The release reported that Nicastro said there is no perfect budget and supporting this budget was not an easy decision, “but I had to make tough decisions when I was mayor and this is another decision that I have made, that on balance, I believe benefits Bristol.”