Waterbury CT Taxes To Drop?
According to an article in the Republican-American today, property owners are to see their mill rate go up, but their overall tax bill to decrease, as a result of the recent revaluation of city properties.
Mayor Neil O'Leary is proposing to keep city spending for the next fiscal year at the same level as this year, at $382.2 million. That proposal will require raising the mill rate from it's current 41.82 mills to 58.16 mills.
The reason for the proposed increase is the fact that the revaluation required by Connecticut state law every 5 years shows that property values have dropped significantly from the last five years in Waterbury. There is also the very real threat of cuts in state aid to the city which has prompted the increase.
Waterbury taxpayers should receive notices regarding the changes in their tax bill prior to July 1, which is the date that the new mill rate would take effect, if passed.
Courtesy of William James Walton, Sr. , Realtor, WEICHERT, REALTORS® - Briotti Group
Serving northern New Haven and southeastern Litchfield Counties (Waterbury, Wolcott, Prospect, Naugatuck, Middlebury, Southbury, Watertown, Thomaston and Plymouth)
Call William James Walton, Sr. Real Estate Agent with WEICHERT, REALTORS® - Briotti Group (203) 558-7463 for help with your real estate needs -buying or selling - in Waterbury, Watertown, Wolcott, Middlebury, Southbury, Prospect, Naugatuck, Plymouth and Thomaston