City of Norwalk, CT Enterprise Zone

Editor's Note: Former Ch. 36, Electrical Code, adopted 5-14-1957, effective 5-25-1957, was repealed 7-24-1979.

Editor's Note: This ordinance also superseded former Ch. 36, Enterprise Zone, adopted 7-13-1982.

The DECD is designated as the administrator of Enterprise Zones in the City of Norwalk.

All real property in an Enterprise Zone which is improved during the period when such area is designated as an Enterprise Zone shall have its real estate assessment fixed in accordance with Connecticut General Statutes § 32-71, as amended. Such fixed assessment shall be for a period of seven years from the time of such improvement and shall defer any increase in assessment attributable to such improvement, according to the following schedule:

Year	Percentage of Increase Deferred
First	100%
Second	100%
Third	50%
Fourth	40%
Fifth	30%
Sixth	20%
Seventh	10%

Notwithstanding the provisions of this subsection, the City may negotiate the fixing of assessments on the portion of improvements, by a taxpayer, which exceed a value of $80,000,000 to real property which is to be used for commercial or retail purposes. Notwithstanding the provisions of Chapter 203 of the Connecticut General Statutes, no such improvements shall be subject to property taxation while such improvements are being constructed.

The Common Council shall have the power to grant additional deferments of up to 100% of assessment attributable to such improvements for a period of up to seven years from the date of the improvement referred to in Subsection B above.

(1)

Any owner of property within a designated Enterprise Zone who seeks to take advantage of the additional deferments available under this subsection shall submit his/her application to the DECD on forms to be supplied by said department. The DECD shall review the application and determine if such additional deferment is necessary in order to promote the further development of industrial, commercial or residential property upon the real estate of the applicant.

(2)

The DECD shall make a recommendation to the Common Council on the applicant's request and shall specify its reasons for recommending approval or denial of the application.

(3)

Upon receipt of the recommendation of the DECD, the Common Council may approve or reject the application in question by a majority vote. Said additional deferment of assessment shall become effective upon its approval by the Common Council.

(4)

The approved application must be submitted by the property owner to the Tax Assessor's office no later than 30 days prior to the establishment of the October 1 grand list, to be eligible for Enterprise Zone benefits for that tax year.

Any fixed assessment on any residential property shall cease if:

(1)

For any residential rental property, any dwelling unit in such property is rented to any person whose income exceeds 200% of the median income, as determined by the United States Department of Housing and Urban Development, for the area in which the residential real property is located; or

(2)

For any conversion condominium declared after the designation of the Enterprise Zone, any unit is sold to any person whose income exceeds 200% of the median income, as determined by the United States Department of Housing and Urban Development, for the area in which the residential real property is located.

In the event of a general revaluation by the City of Norwalk in the year in which such improvement is completed, resulting in any increase in the assessment on such property, only that portion of the increase resulting from such improvement shall be deferred. In the event of a general revaluation in any year after the year in which such improvement is completed, such deferred assessment shall be increased or decreased, in proportion to the increase or decrease in the total assessment on such property as a result of such revaluation.

No improvements of any real property that qualifies as a manufacturing facility under § 32-9p(d) of the Connecticut General Statutes shall be eligible for the benefits under this chapter.

In the case of any real property that qualifies for the deferred assessment granted under the provisions of Chapter 78 of the Code of the City of Norwalk (Phased Increased Assessment), for each year of the deferment, said property shall qualify for the deferment under Subsection B of this section or the deferment under § 78-4, whichever is greater, for the year in question.