Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Eligibility topic
No spam. Unsubscribe anytime.
Assessor: trusts with life use can qualify; corporate ownership (LLCs) generally will not
Summary
Stratford’s assessor told the finance committee that the enabling statute limits eligibility to owner‑occupants, excludes corporate entities, but allows trust exceptions when a life use/life tenancy is present and the applicant is the grantor and sole beneficiary.
Catherine, the town assessor, told committee members that the statute limits homestead eligibility to owner‑occupied properties and that "LLCs, any type of corporate entity, LLCs, partnerships, corporations, probably not listing them all, would not be eligible." She added that properties held in trust may qualify if the applicant is both the grantor and sole beneficiary or if a life use is recorded on the deed.
The assessor referenced existing life‑use law when explaining options for people who placed property in trusts for estate planning. "If a property is held in trust, we need a copy of the trust agreement," she said, noting the office would have the town attorney review agreements and could apply fractional exemptions where multiple owners share an ownership interest. Council members requested ordinance language clarifying fractional‑ownership scenarios and asked staff to prepare public messaging explaining exceptions for life use and trust arrangements.
