Every homeowner has to pay property taxes, but the amount varies from town to town. One lawmaker wants to change that with a statewide property tax on homes valued at more than $430,000. He calls it a mansion tax.
“The only positive thing about the property tax — which most people find regressive and burdensome because it’s not tied to income or capacity to pay it’s just tied to homeownership — it’s that at least it’s a reliable source of revenue,” Senate President Martin Looney said.
Looney wants to increase the property tax by one mill on every home valued at $430,000 or more. His proposal would redistribute the money back to some cities and towns that are struggling.