Cut property taxes, save money on prisons

HARTFORD — If elected in November, Ned Lamont told media members Thursday, he would cut property taxes for most middle-class families within his first two years in office.

The Democratic candidate for governor announced Thursday at a news conference that his tax plan is less “pie-in-thesky” than Republican opponent Bob Stefanowski’s idea of completely eliminating the 27-year-old personal income tax.

Lamont conceded that his relief plan would still cost the state millions of dollars at a time when Connecticut has a multibillion-dollar deficit.

“The property tax is the biggest tax paid by the vast majority of our citizens, certainly by the middle class,” he said. “The property tax makes it tougher for a young family to buy their first home when they are coming in for a job or moving for a job. It makes it tougher for our seniors to afford to stay.”

Lamont would increase the property tax credit by 50 percent and expand access to more middleclass tax payers, he said. In his plan, single residents earning up $116,500, household heads earning up to $138,500 and joint filers up to $160,500 would receive a maximum credit of $300. His campaign predicted the giveback would affect 900,000 taxpayers.

In the second half of his term, Lamont said, he would implement a slidingscale style tax credit up to $1,200 for families who spend over 6.5 percent of their income on property taxes. Lamont would also restore a municipal tax credit program for seniors and give new funding to help them rent property, he said.

Enacting phase one of his plan would cost the state $165 million annually, Lamont said. During phase two, the state would pay an additional $185 annually.

Lamont said he could pay for the tax cut by reducing prison costs. But the Department of Corrections already has a $23.5 million shortfall this fiscal year, according to the state Office of Policy and Management. He also suggested improving tax collection through new technology and using sports gambling revenue, which has yet to be legalized in Connecticut.

“This is a 1 percent cost to the state of Connecticut in year one,” said Lamont. “I don’t have to start with an $11 billion hole, which would happen if you eliminated the income tax or eliminated it over a period of time.”

Stefanowski did not return a request for comment.