Conn. Gen. Stat. » Title 08 — · Chapter 133 — Housing, Redevelopment and Urban Renewal and Human Resource Development Programs
Connecticut General Statutes

Conn. Gen. Stat. § 8-216a (2025)

Capitalized value of net rental income, basis for property valuation

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(a) Notwithstanding any provision of the general statutes or special act, the present true and actual value of any real property used for housing solely for low or moderate-income persons or families, as defined in section 8-202, on which rents or carrying charges are limited by regulatory agreement with, or otherwise regulated by, the federal or state government or any department or agency thereof, shall be based upon and shall not exceed the capitalized value of the net rental income of such real property. For purposes of this section, “net rental income” means the gross income of any real property used for housing solely for low or moderate-income persons or families as limited by the schedule of rents or carrying charges, less reasonable operating expenses and property taxes.

(b) Any modification, amendment, or replacement of a contract already in existence on or before October 1, 1973, shall not be subject to the provisions of subsection (a) of this section without the mutual consent of the parties thereto.

(P.A. 73-642, S. 3, 4; P.A. 24-143, S. 9.)

History: P.A. 24-143 substantially revised Subsec. (a) to apply net rental income assessment method to all real property used for housing solely for low or moderate-income persons or families.

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Notes of Decisions
Cited in 1 case, 2016–2016 · leading case: Nutmeg Hous. Dev. Corp. v. Colchester, 151 A.3d 358 (Conn. 2016).
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Nutmeg Hous. Dev. Corp. v. Colchester, 151 A.3d 358 (Conn. 2016). · cites it 18× “The plaintiff claimed that the town was required to use the method described in General Statutes § 8-216a. That provision calls for the valuation of certain low income property using an income capitalization approach, that is, determining the property's actual rental income less…”
Conn. Gen. Stat. § 8-216a(a): 1 case
Nutmeg Hous. Dev. Corp. v. Colchester, 151 A.3d 358 (Conn. 2016). “The plaintiff claimed that the town was required to use the method described in General Statutes § 8-216a. That provision calls for the valuation of certain low income property using an income capitalization approach, that is, determining the property's actual rental income less…”
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