New Mill Rate Set In Bridgeport: What's The New Tax Rate?

BRIDGEPORT, CT — Bridgeport’s City Council has approved the city’s fiscal year 2026-27 budget, which includes a 40 percent reduction in the city’s mill rate and increased funding for education and public services. The budget takes effect July 1.

The budget lowers the city’s mill rate to 27.95, down from 43.45, according to city officials. Officials said the decrease follows growth in Bridgeport’s grand list, which has risen to about $13 billion.

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The budget includes increased funding for Bridgeport Public Schools, libraries, senior and veteran tax relief programs, public services and neighborhood initiatives. City officials said the education funding represents the largest local investment in the school district in the city’s history.

Also included in the $622-plus-million budget is a more than $31,000 increase in Mayor Joe Ganim's salary to $207,094, the Connecticut Post reported.

"This is a truly historic moment for Bridgeport," Ganim said in a statement. "For generations, Bridgeport residents carried one of the highest mill rates in Connecticut. Today, we are turning years of growth and investment into real relief for taxpayers while continuing to invest in our schools, neighborhoods, parks, libraries, and city services. This milestone reflects the hard work of many people who believe in this city and its future. I want to thank the City Council for approving the reduction of the mill rate along with their hard work on this year’s budget. It’s truly a reflection of a shared commitment to progress and quality of life for our residents."

City Council President Jeanette Herron said the budget reflects “years of growth and careful planning.”

“Lowering the mill rate to this level is something many residents never expected to see in their lifetime, especially while increasing investments in our schools and city services," Herron said. "We appreciate the partnership between the City Council and the Mayor’s office in helping Bridgeport reach this historic moment."

Additional budget measures include expanded senior and veteran tax relief programs and free park stickers for Bridgeport residents.