In June of 2013 the City established a Task Force “for the purpose of examining and analyzing Hartford’s property tax system, and making recommendations for State legislation to rectify imbalances resulting from the system.” We follow the City’s property tax system closely, and the Task Force’s recently released final report makes this a good opportunity to quickly review Hartford’s current tax situation, analyze the recommendations of the Task Force and share our thoughts. Hartford’s property
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Thursday’s Hartford Courant contained an article and photo gallery projecting possible tax bills for a number of different properties in the City of Hartford. Their story contained just enough information to figure out what their model of the revaluation’s results say about the mill rate and residential assessment ratio. The Courant is projecting that the three property classes will have assessment ratios of 70% for commercial, 50% for apartments (which now includes four-family buildings) and
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West Hartford’s 2011 revaluation is progressing smoothly, and reached the public phase when Market Value letters began arriving during the second half of November. Before going any further, it is very important to emphasize three key points: 1. Property taxes don’t change until July 2012. 2. Taxes would be calculated based on the “New Property Assessment” in the bottom right of the letter, not the market value. 3. The mill rate will change, so multiplying
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The 2011 City of Hartford property revaluation is just around the corner, and in fact, the team at the Assessor’s office has already gotten started. Homeowners are scheduled to receive a mailing in the next few months that will help the City collect data about our properties. After that, most of the work will be done internally until the new assessed values are distributed in November of 2011. Don’t be Afraid Many property owners hear
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