Have you received your tax bill yet? The new budget year that starts on Tuesday calls for a tax increase of $53 for the average homeowner and $135 for a business. Since the start of Mayor Bill Finch’s second term, the average residential taxpayer is paying an additional $400 more.
This budget represents a third straight tax increase, albeit modest, for Finch as he seeks a third four-year term next year. Dare say the mayor’s peeps will find a way not to raise taxes in an election year.
Each year the mayor has proposed a tax increase higher than what was approved by the City Council. And so it goes in the budget-making process. City beancounters generally leave something for the council to cut so members can save face, or the council includes a combination of more revenue items anticipated from the state or savings from city employee givebacks.
The higher assessed areas of the city such as Black Rock, North End and Brooklawn will generally pay more than $53. The budget year coming to a close represents roughly a $125 tax increase on the average homeowner.
The tax increase from the prior year hit the average Bridgeport taxpayer about $230 more. So, total up the past three years and the average taxpayer is paying just over $400 more since the start of Finch’s second term, according to a tabulation from news releases the mayor has issued each year.
As taxes go, is that good, bad or ugly for you?