How the Green Bank works with tax collectors

Tax collectors are busy professionals, and their work plays a significant role in maintaining the economic well-being of the communities they serve. When they support C-PACE in their municipality, they make an even bigger impact. Municipalities with C-PACE can help stabilize their tax base, grow a healthier economy and community, and support local businesses. The Connecticut Green Bank is experienced in working with tax collectors across the state and provides ongoing support for these public officials. The success of the C-PACE program is not possible without their support.

C-PACE utilizes a familiar repayment mechanism – voluntary benefit assessments on a property tax bill – making it a simple program for municipal officials to help implement. The Green Bank works directly with tax collectors to help facilitate and explain all aspects of C-PACE implementation, and the Green Bank is responsible for all billing and collection.

What tax collectors can expect

When a property owner closes on C-PACE financing, the Connecticut Green Bank will email or mail the following documents to the Tax Collector’s office, to be filed on the municipal land records (along with filing instructions):

1. Certificate of Levy and Lien of Benefit Assessment
2. Assignment of Benefit Assessment Lien (Municipality to Green Bank)
3. If applicable, Assignment of Benefit Assessment Lien (Green Bank to Capital Provider)
   

Documents 1 and 2 above will always need to be signed by the municipality’s tax collector before filing, and specific instructions are included with each lien filing request.

Document 1 above, the “Certificate of Levy and Lien of Benefit Assessment”, may or may not include a payment schedule at the time of initial filing. As of July 1, 2021, municipalities are no longer involved with the billing and collection of the C-PACE payment schedules. The Green Bank is solely responsible for this activity.