Jul 29, 2014
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Is Guilford Too Dependent on Property Taxes?

CCM says all towns in the state are struggling to raise money from local tax revenues

Is Guilford Too Dependent on Property Taxes?

 

Connecticut’s 169 municipalities have gotten little increased financial help from the state in the last five years and remain overly dependent on state aid, the Connecticut Conference of Municipalities says.

CCM, the main lobbying group for local communities, released a bulletin Monday to candidates for the state’s General Assembly urging them to make education funding a priority in the coming year, according to the Connecticut Mirror.

This year, the town of Guilford took in approximately $73.5 million in revenues from property taxes, and next year, that number is estimated to increase to $76.8 million. The town has a tax rate of about 22 mills.

State aid for towns overall stands at about $3 billion per year, while Connecticut’s 169 towns collectively raise about $9 billion annually from local property taxes, James Finley, CCM’s executive director, told the Mirror. State aid to towns has remained relatively flat over the last five years. When you factor in the rate of inflation, that means towns have actually lost financial ground during that five-year period, Finley added.

The state aid figures represent an over-dependence by towns on local property taxes, something the General Assembly should address by closing shortfalls in education funding to towns, Finley said.

"The key to property tax relief is education finance reform," Finley told the Mirror. "The overdependence on the property tax is unsustainable, and hometown Connecticut is in desperate need of revenue assistance."

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