Stamford mayor urges General Assembly to postpone city’s tax revaluation
Stamford Mayor David Martin called on the Connecticut General Assembly to allow cities and towns revaluating in 2022 to push that valuation for another year.
State law requires a valuation every five years to determine property tax rates.
However, Martin says the pandemic has shifted residential values up and commercial values down, and if that shift is temporary, it shouldn't be reflected in new tax rates.
“If we can give it another year to let things stabilize a little bit, and if this is permanent, if some properties are going to be worth more permanently, then it's right that perhaps some property taxes should go up, and those values that have fallen property taxes should probably go lower,” Martin says. “But I don't think it's permanent, and I think we can wait that year without a huge cost to anybody and get more stabilized numbers.”
The state posts a schedule of cities and towns' revaluations to its website.
Milford and Shelton are both completing their revaluations this year.
Shelton Mayor Mark Lauretti says he’s confident the higher housing prices will stick for a few years.
He told News 12, "I would not ask the state for permission to postpone reevaluation. I think they're important to do on a timely basis and I think that's overall the fair thing to do for all taxpayers."
Mayor Martin says he doesn't want residents to be locked in for more than their fair share.
"And then it'll come back again the next year, when hopefully values have stabilized a little more than they have now and, hopefully, COVID is behind us at that point,” he says.
If Stamford gets permission to push the revaluation, that decision will fall to Martin's successor.