NORWICH – The proposed local law that would offer a tax exemption for select properties in the city was tabled at Tuesday’s meeting of the Common Council due to the absence of two city councilmen.
“I feel like this issue is important enough that we should wait until the September meeting to vote,” said Norwich City Mayor Joseph Maiurano, citing implications of the proposed 421-m Tax Exemption Law. Given the absence of Aldermen Terry Bresina (Ward Two) and Alderman John Deirlein (Ward Three), the council agreed and unanimously moved to put off an official vote.
Under the law, private developers of select buildings in the downtown area would be excused from taxation of higher property tax assessments that transpire as the result of major renovations to their property. However, the property owner would still be taxed according to the assessment of the property prior to rehabilitation and would remain subject to any future tax rate increases.