Expert Advice from Amy & Kyle Bergquist at Keller Williams Legacy Partners
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
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
On Tuesday evening, Town Manager Ron Van Winkle presented his proposed budget to the Town Council. West Hartford Patch was in attendance and provides a thorough account of what happened. Mr. Van Winkle’s slides are also posted on the Budget Page of the Town website. The quick summary is that the proposed budget is a 5.1% increase over the current year budget, which means that the Town will need to collect more in property taxes
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
Last Tuesday we wrote about the West Hartford revaluation, focusing on the informal hearings that allow individual property owners to challenge the market values that they received in the mail from the Town. Today we turn our attention to analyzing the big picture results of the revaluation. Amanda Falcone’s piece in the Thursday’s Hartford Courant quotes West Hartford Assessor Joseph Dakers Sr. as saying the new market values will “likely cause the town’s grand list