Mill Rate - A mill is equal to $1.00 of tax for each $1,000 of assessment. To calculate the property tax, multiply the assessment of the property by the mill rate and divide by 1,000. For example, a property with an assessed value of $50,000 located in a municipality with a mill rate of 20 mills would have a property tax bill of $1,000 per year.

 

How a mill rate is determined – The Board of Finance or Town Council meets to determine what the new budget figure is and will include all municipal salaries, education budget, any equipment and other purchases needed, local services, etc.  Then all other revenues such as federal and state grants are deducted, leaving the amount that needs to be raised by taxes if there is a deficit.  The mill rate is determined from this amount. The proposed budget and mill rate then go to a Town Meeting (legislative body) where taxpayers can discuss and may vote on the proposed budget and mill rate.

 

FISCAL YEAR 2014 - 2025 MILL RATES - CT DATA

FISCAL YEAR 1992 - 2013 MILL RATES - Historical Mill Rates

Contact: Gregory.Lowrey@ct.gov  860.418.6308