In Connecticut, the assessed value of real property for property tax purposes is set at what percentage of its fair market value?
Correct Answer
B) 70% of fair market value
Under Connecticut General Statutes § 12-64, real property in Connecticut is assessed at 70% of its fair market value (also called the 'assessed value ratio' or 'assessment ratio'). This 70% figure is a foundational element of Connecticut's property tax system and is frequently tested on the state exam.
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