Connecticut § 8-216a Capitalized value of net rental income, basis for property valuation.

Connecticut Statutes

§ 8-216a — Capitalized value of net rental income, basis for property valuation.

Connecticut § 8-216a

Title 8Zoning, Planning, Housing and Economic and Community Development

Ch. 133Housing, Redevelopment and Urban Renewal and Human Resource Development Programs

This text of Connecticut § 8-216a (Capitalized value of net rental income, basis for property valuation.) is published on Counsel Stack Legal Research, covering Connecticut primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Conn. Gen. Stat. § 8-216a (2026).

Text

(a)Notwithstanding any provision of the general statutes or special act, the present true and actual value of any real property used for housing solely for low or moderate-income persons or families, as defined in section 8-202, on which rents or carrying charges are limited by regulatory agreement with, or otherwise regulated by, the federal or state government or any department or agency thereof, shall be based upon and shall not exceed the capitalized value of the net rental income of such real property. For purposes of this section, “net rental income” means the gross income of any real property used for housing solely for low or moderate-income persons or families as limited by the schedule of rents or carrying charges, less reasonable operating expenses and property taxes.

(b)Any m

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(a) Notwithstanding any provision of the general statutes or special act, the present true and actual value of any real property used for housing solely for low or moderate-income persons or families, as defined in section 8-202, on which rents or carrying charges are limited by regulatory agreement with, or otherwise regulated by, the federal or state government or any department or agency thereof, shall be based upon and shall not exceed the capitalized value of the net rental income of such real property. For purposes of this section, “net rental income” means the gross income of any real property used for housing solely for low or moderate-income persons or families as limited by the schedule of rents or carrying charges, less reasonable operating expenses and property taxes. (b) Any modification, amendment, or replacement of a contract already in existence on or before October 1, 1973, shall not be subject to the provisions of subsection (a) of this section without the mutual consent of the parties thereto.

Legislative History

(P.A. 73-642, S. 3, 4; P.A. 24-143, S. 9.) History: P.A. 24-143 substantially revised Subsec. (a) to apply net rental income assessment method to all real property used for housing solely for low or moderate-income persons or families.