Sec. 12-129r. Municipal option to abate taxes on open space in exchange for transfer of development rights to municipality.
Sec. 12-129r. Municipal option to abate taxes on open space in exchange for
transfer of development rights to municipality. (a) As used in this section:
(1) "Municipality" means any city, town, borough, district or association with municipal powers; and
(2) "Open space land" means any area of land, including forest land, the preservation
or restriction of the use of which would (A) maintain and enhance the conservation of
natural or scenic resources, (B) protect natural streams or water supply, (C) promote
conservation of soils, wetlands, beaches or tidal marshes, (D) enhance the value to the
public of abutting or neighboring parks, forests, wildlife preserves, nature reservations
or sanctuaries or other open spaces, (E) preserve historic sites, or (F) promote orderly
urban or suburban development.
(b) Any municipality may, by ordinance adopted by its legislative body, establish
a program under which property taxes may be abated in exchange for the transfer to
the municipality of development rights, conservation easements, rights-of-way or any
combination thereof, to open space land. Such ordinance shall include, but not be limited
to, provisions for requirements for application for the abatement, which shall include a
certified appraisal of the property proposed for abatement both with and without development rights.
(c) The abatement may not exceed the market value of the open space land, may
be transferable to any other taxable property in the municipality owned by the applicant
and may exist for a period of time to be determined by the legislative body of the municipality.
(P.A. 06-128, S. 1.)
History: P.A. 06-128 effective October 1, 2006, and applicable to assessment years commencing on or after that date.