AN ACT CONCERNING PROPERTY TAX EXEMPTIONS FOR CERTAIN LONG-TERM HOMEOWNERS.

SB 465 would allow municipalities to offer property tax exemptions to long-term homeowners who have continuously owned their primary residence for 20+ years. Homeowners with 20-24 years of ownership would receive a 20% exemption, those with 25+ years would get 25%, and those with 30+ years would receive 30%. The bill requires municipalities to use a standardized application process verifying continuous ownership and primary residence use, and directs the Office of Policy and Management to provide guidance for uniform implementation. This legislation directly affects eligible homeowners in participating towns but does not require all municipalities to adopt the program.