Grand List Numbers Point To Tax Rate Dropping In Vernon

VERNON, CT — Vernon's 2021 Grand List if taxable property increased 19.7 percent as a result of revaluation and "market-driven increases" in motor vehicle and real estate values. The tax rate required to fund the 2022-2023 municipal budget has not yet been determined, but it is projected to decrease when the annual town budget is approved, town officials said.

Vernon's tax rate has been 39.63 mills since 2017. That means, taxpayers are liable for $39.63 for every $1,000 of assessed property value.

Here is the grand list breakdown:

• The total grand list grew by $367.63 million to $2.23 billion.
• The real estate portion of the grand list increased by $308.53 million to $1.88 billion.
• Motor vehicle values increased $54.5 million to $253.9 million.
• PersonalProperty increased $4.6 million to $96.95 million.

Mayor Daniel Champagne and town administration are currently developing a budget proposal that will be submitted to the Town Council and, ultimately, taxpayers for review and approval.

The final tax rate will be calculated upon review of the proposed operating expense and revenue budgets, which is scheduled to begin on March 19 and continue through the Annual Town Meeting, scheduled for April 26.

"Once the budget process is complete, the mill rate will decrease," Champagne said.

Town Administrator Michael Purcaro said he, Champagne and Finance Director Jeff O’Neill have been analyzing and adjusting department budget proposals.

"We are committed to providing the services taxpayers expect in the most efficient and cost-effective ways
possible," Purcaro said. "Utilizing zero-based budgeting, we start from scratch ever year. We require department heads to justify every tax dollar they want to spend and we demand the best value for Vernon residents."

Added O'Neill, "In setting the mill rate, current needs are balanced with an ever watchful eye on the future to ensure Vernon remains a vibrant and sustainable community. This strategy provides stability and limits major fluctuations in the mill rate from year-to-year. Proposals are now under discussion at the State Capitol to cap the mill rate for motor vehicle taxes. If any measure passes, it will be included in the final Fiscal Year 2023 budget proposal.

The Grand List increase was driven, in part, by motor vehicle assessments which were up by 27.3 percent.

Supply constraints and high demand for used cars drove substantial increases in the value of used motor vehicles.

Similarly, real estate values have experienced considerable growth because of high demand and limited supply, resulting in an increase of 19.5 percent. Personal property values increased 5 percent.

The market-driven increases in values Vernon has experienced are consistent with what has been reported in cities and towns across the state, officials said.