An Update on Hartford’s 2021 Revaluation

Home with a Dusting of Snow

We spoke with the City of Hartford Assessor earlier today to get an update on the timeline for the City’s 2021 Revaluation. The current target for distributing assigned market values to all the property owners in the City is late January. The Assessor’s staff, and the contractors helping with the revaluation, are taking extra time to be sure that they feel totally confident in the values before sending them out. Even though this approach creates

Hartford’s Property Tax Task Force Report

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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

Killing the Mortgage Interest Tax Deduction

Speculating that the mortgage interest tax deduction might go away is currently quite popular. News sites all across the internet have taken various angles on what it might mean to individual homeowners and the real estate markets in general. Most articles argue that eliminating this tax break will cause home values to decrease. The National Association of Realtors is frequently quoted as estimating that home prices would fall by 15% nationally and more in areas

Budget Trends in the City of Hartford

Hartford is in the middle of a budget debate in which City leaders work to close a meaningful gap between revenue and expenses. There are many moving parts to the discussion, and difficult decisions will be made. There is also one real estate related consideration that we want to highlight. Last June the state legislature passed a law that defines how the City of Hartford’s split property tax system will work for the coming five

West Hartford Taxes

It’s budget season in Greater Hartford, which is always a contentious time for property owners since it is often the first sign of rising taxes. West Hartford has a double dose of uncertainty as the Town works to figure out both the size of the budget and the implementation of the recently completed revaluation. I attended the first of two public budget hearings on Tuesday afternoon in the Town’s Legislative Chambers. Since it seemed like