We have updated the tax data for all the towns in Hartford County including the new mill rates for fiscal year 2013-2014. Nine of the counties 29 towns went through revaluation in 2012.
Some interesting trends could be seen with the Counties mill rates. Twenty eight of the towns have approved their budgets and new mill rates. As of July 4th, Windsor is the only town in Hartford County that has not approved their budget for the new fiscal year. Another vote is scheduled for July 16th, and as soon as the mill rate is approved we will update it on our site.
Of those 28, three (Marlborough, Southington and West Hartford) actually had lower mill rates then the prior year. West Hartford was the declining mill rate winner with a decline of .45 mills.
Hartford had the same mill rate as the previous year, but in their case that is someone deceiving. Unlike every other town in Connecticut, Hartford determines their assessed value at differing percentages for different types of properties. Despite a Connecticut state mandate that all properties be assessed at 70% of appraised value, Hartford actually has three different percentages for this calculation. Residential properties (single family and 1-4 unit dwellings) are assessed at 29.2% of the appraised value. This figure fluctuates every year, but does have limits on the percentage increase. Apartments are assessed at 55% of value, with the percentage phased in over 5 years until it meets the 70% state mandate. Commercial properties are assessed at the state required 70% of value. Since the assessment figures fluctuate every year the stable mill rate from last year to this year does not indicate a stable tax rate.
The highest increases in mill rate all came from the towns that are using the 2012 revaluation figures. Towns that underwent revaluation in 2012 had increases in mill rates from 2.17 to 7.49 mills. In comparison no town that had a revaluation prior to 2012 had a mill rate increase above 1.61 mills. This was to be expected as the declining values over the previous 5 years resulted in lower grand lists for these towns, due to lower property values in 2012 versus the prior revaluation of 2007. Consequently the expenses of the town had to be recovered by raising the mill rates. Theoretically taxes on real estate are not necessarily higher despite the higher mill rate as they are applied to lower property values. So despite mill rate increases as high as 7.49 (New Britain) one would have to look at the individual property assessed value to determine whether property taxes would increase.