City council votes in favor of land-value taxation plan

The Bridgeport City Council voted unanimously in favor of a measure that may help boost tax revenue for the city. City officials and supporters of the resolution say the added revenue could help get

News 12 Staff

Dec 16, 2014, 5:46 AM

Updated 3,470 days ago

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The Bridgeport City Council voted unanimously in favor of a measure that may help boost tax revenue for the city.
City officials and supporters of the resolution say the added revenue could help get rid of eyesores like the Rem Grit site on Barnum Avenue. The resolution addresses how Rem Grit and similar sites are taxed. Currently, the city taxes both the land and any buildings on it equally. The measure, which is known as land-value taxation, would place added emphasis on the land. Land-value taxation is part of a statewide pilot program.
Those who oppose the measure believe it will force businesses to leave rather than flock to Bridgeport.
 


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