5/28/2013 - Mayor O'Leary Requests Input On Reval From Waterbury Business Community


The City of Waterbury is required by law to begin the implementation
of Property Tax Revaluation this year. The City can opt to fully implement
revaluation this year or phase it in over several years.
Mayor O'Leary would like your input on this subject.

Phasing in Revaluation would likely be done over a five-year basis
and the real estate and personal property values would be phased in
at 20 percent a year with a mill-rate that would also be phased in over
the same five year period. If the City implements a one-time revaluation
this year, based on the most probable state budget implementation,
taxpayers would face a mill rate of 58.1 for next fiscal year
(July 1, 2013-June 30, 2014). Should the city choose to fully implement
revaluation in the upcoming fiscal year, the Mayor is committed to advocating
for conducting a new property tax revaluation in early 2015, under the belief
that there is a already an, albeit slight, move in the right direction on property
tax values that can be assumed to continue and strengthen in the next couple of years.

Mayor O'Leary seeks your direct input on this issue.
E-mail your responses to: reval2013@waterburyct.org.

 ** Please click here to view a PDF of the letter sent to the Waterbury business community.