Town of Old Lyme, CT Article V Effective Date of Exemption for Certain Property

[Adopted 1-27-2003]

§ 150-11 Effective date established.

The effective date of the property tax exemption for real property, as authorized under C.G.S. § 12-81(7),[1] shall be as of the date of acquisition of such real property to which the exemption applies for acquisitions occurring after October 1, 2002.

[1] Editor's Note: C.G.S. §  12-81(7) authorizes a property tax exemption for corporations established for scientific, educational, literary, historical or charitable purposes.

§ 150-12 Effect on improved and unimproved property.

The effective date of the property tax exemption hereunder shall be limited to unimproved real property. As of the date for the next succeeding Grand List, the exemption under § 12-81(7) shall apply to all real property, improved and unimproved, which shall qualify for exemption under said statute.