New Fiscal Year for Connecticut Towns

Every year on July 1st towns in Connecticut start a new fiscal year. As part of that change towns adopt a new  budget based on the most recent grand list, which by state mandate is locked in as October 1st of the prior year (2012 for July 1st, 2013). Using that grand list a mill rate is set to generate taxes for the town. The result is that each year on July 1st each of the 169 towns in Connecticut implement a new mill rate.

Now although the new mill rate is supposed to be set as of July 1st, in reality that doesn’t always occur. Many towns require a vote from the citizenry on the budget and the resulting mill rate. Last year some towns had their budgets voted down several times and a finalized mill rate didn’t occur until months after the deadline. With the declining property values through 2012 resulting in lower grand lists and higher mill rates, combined with 39 towns having gone through revaluations for the newly implemented grand list, this year doesn’t seem to indicate that this will change.

Over the next week we will be canvasing each of the 169 towns in Connecticut to update the mill rates, fiscal years, most recent revaluation and next scheduled one. Some towns have had the new budget approved for some time. However, with the number of towns deciding at the last moment, or in the case of those that have had their budgets rejected by voters, after the last moment, we felt that waiting until now is the most prudent and efficient way to update this information.

Keep checking on our site over the next week to see the updated figures. You can check if the town you are looking for is updated, as we include the grand list that the mill rate is referencing. For July 1st of 2013, the updated mill rate will reference the grand list of 2012. If you see the grand list still reports 2011, it means either we haven’t updated the information yet or that the town has not approved it’s new budget and mill rate. By July 12th all towns should be updated, with a possible exception for a few small towns that have limited Assessor hours, and the towns that have not approved their new mill rate.

 

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