HB 5284 Connecticut House · 2026 Regular Session

AN ACT CONCERNING PROPERTY TAX ABATEMENT FOR CERTAIN FIRST-TIME HOMEBUYERS.

HB 5284 authorizes Connecticut municipalities to reduce property taxes by up to $500 annually for up to five years for qualified first-time homebuyers. It directly affects buyers who obtain loans from the Connecticut Housing Finance Authority (CHFA) for a single-family home serving as their primary residence. The bill requires municipal approval (via legislative body or board of selectmen) to implement the tax abatement, which applies only to properties encumbered by a CHFA mortgage. This policy creates a concrete tax relief mechanism for eligible homebuyers without mandating participation from all municipalities.

Bill status in committee 1 of 4 stages cleared

Introduction

Feb 2026

Committee Review

Floor Vote

Governor

Introduced Feb 19, 2026 Last action Mar 24, 2026

Maddy AI version diff · 1 comparison

What changed between versions

Raised Bill → PD Joint Favorable Substitute · 3 edits

MINOR

The bill was converted from a 'Raised Bill' to a 'Substitute Bill' following a favorable joint vote by the House and Senate. The most significant substantive change is the addition of a requirement for municipalities to adopt a local ordinance before they can implement the tax abatement program. Additionally, the eligibility criteria were expanded to include properties with mortgages 'financed, directly or indirectly' by the Connecticut Housing Finance Authority, rather than just those with a mortgage 'in favor' of the authority.

Scope change

The bill's scope now requires a new administrative step (local ordinance adoption) for municipalities to activate the tax abatement, and it broadens the definition of eligible mortgages to include indirect financing arrangements.

REQUIREMENT

Municipalities must now adopt a specific ordinance to allow for the tax abatement, adding a layer of local legislative approval before the state program can be utilized.

ELIGIBILITY

The eligibility criteria for the mortgage were expanded from requiring a mortgage 'in favor' of the Connecticut Housing Finance Authority to include mortgages 'financed, directly or indirectly' by the authority.

TECHNICAL

The bill version was updated from 'Raised Bill' to 'Substitute Bill' to reflect the legislative process status after committee and floor votes.

Floor votes

How they voted

No floor votes recorded yet.

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Mar 6, 2026

Lower · Passed

Joint Favorable Substitute

lower

Feb 19, 2026

Committee

REF. TO JOINT COMM. ON Planning and Development

lower

4 primary · 0 co-sponsors