Democrats on the Hartford City Council spent much of Friday afternoon trying to figure out just what to do with next year’s city’s budget. WNPR’s Jeff Cohen reports.
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But average taxes on a four-family unit could skyrocket 65 percent. Taxes on apartment buildings will go up on average 14 percent.
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Makes a guy wonder why Pedro went to the trouble of trying to get the Solons in the State Capitol to grant him permission to change the assessment ratio on apartment buildings. Label me confused as to what’s going on. If taxes owed = (fair Value) x (assessment Ratio) x (mill Rate/1,000), which factor in the equation is being adjusted to get, for example, the 65% increase in taxes on apartment buildings?
Call me forgetful, too. My memory is that we were expecting a huge deficit this 2012-13 municipal taxing season. Courant’s Carlesso, for example, reported in Feb. (https://mail.google.com/mail/?hl=en&shva=1#inbox/13765d9907d3e8e1) projected $55million hole. I can’t remember how the City resolved that apparent difficulty.
Hey Peter:
I don’t have the details in front of me (and the details didn’t make it into my original story on the budget, mostly because they don’t translate wel on radio).
That said, here’s our story that talks about it.
http://www.yourpublicmedia.org/content/wnpr/hartford-mayor-presents-budget
Broad brush, the mayor closed the gap in a variety of ways, including cuts, tax hikes, and higher revenue estimates in variety of categories (money from the state for schools projects, union concessions, etc.)..
Thanks, Jeff. The Mayor certainly made closing that 10% gap seem pretty easy. It seems the City can’t make up its mind about increasing taxes on single family houses.