Home and businesses owners this week are expected to receive notification of their new property assessments, a review required every five years by state law.
Two letters will be issued, one from Finance Director Ken Flatto, the other highlighting the new assessment and the process to both challenge and appeal the number.
Property owners, according to Flatto’s letter, can expect to see a drop in the mil rate from the current 54 to the mid 40s, a reflection of “enhancing the value of homes and commercial properties in our city.”
The new mil rate will be established during the budget process. In April Mayor Joe Ganim will submit his spending plan for the year commencing July 1, 2021. It will undergo a review by the City Council’s Budget and Appropriations Committee including public hearings. The final mil rate will be set by the council in June.
For further information see BridgeportCT.gov/ReVal.
Ken,
High taxes are a “MILL” stone around many taxpayer necks. But you are dealing with an expectation of “mil” rate in Bridgeport decreasing because the total value of all taxable Grand List properties is expected to increase after the revaluations have been distributed and adjusted in the statutory process.
You put a warning in this letter, that this is not a tax bill. Why could you not in the interest of fair and comprehensive instruction to all, provided the tentative Taxable Grand List value after revaluation side by side with the before revaluation Taxable Grand List? Why make an estimate and use it in your letter and not provide the new “total”? You can put in another warning that this “total” is not official until after people have had a chance to challenge their revaluation number. Time will tell.
Is there a website where I can compare my new value to other houses on my street/in my neighborhood to determine if value is consistent with others and with zillow variances?