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STAMFORD, Conn. Stamford residents will see their taxes go up an average of 2.42 percent this upcoming fiscal year, after the Board of Finance unanimously set the rate for the city at its special meeting Wednesday night.
The new average property tax rate for the city will be $17.79 per $1,000 of assessed value, which is $0.42 higher than last year. The average city rate last year was $17.37 per $1,000 of assessed value.
The mill rate breakdown by district is as follows: A: $17.89, which is 2.3 percent higher than last year; B: $17.49, 2.3 percent higher than last year; C: $16.73, 2.6 percent higher than last year; and CS: $17.08, 2.6 percent high than last year.
The four districts are split geographically across the city and differ depending on certain services each receives.
The personal property tax rate increased to $17.89 per $1,000 of assessed value which was a 2.3 percent increase on last year, and the uniform motor vehicle rate remained flat this year at $26.50 per $1,000 of assessed value.
The board differed on how much should be put into contingency for the citys spending plan before adopting the proposed $4.18 million.
Board member David Martin, a Democrat, was lobbying to add more to the contingency based on other needs, which included $500,000 for the school board and the citys medical reserve fund. But his requests ultimately failed.
I am not mortgaging Stamfords future for short-term popularity, Martin said. It made sense to add more to the fund in case it is needed, even though it would raise taxes, he said.
Fiscal year 2013 begins July 1, 2012, and will run to June 30, 2013.
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