Opinion: Fairfield Revaluation and the Budget: Clearing Up Misinformation

The following opinion essay was written by John Mitola, a member of the Fairfield Board of Finance:

Fairfield Revaluation and the Budget: Clearing Up Misinformation

Unfortunately—and likely due to the pending special election for First Selectman—we’ve seen an uptick of misinformation about the town-wide property revaluation. This is meant to stoke anxiety, fear, and anger for political gain. As a Board of Finance member, I want to clear up these misconceptions:

Some want you to believe this revaluation happened because Fairfield’s First Selectperson is a Democrat. That is nonsense.

• FACT: Every five years, the Town conducts a property revaluation to ensure that all real estate is assessed at 70 percent of its fair market value. First Selectwoman Brenda Kupchick, a Republican, oversaw our last revaluation. Republican-led towns including Greenwich, New Milford and others are going through revaluations right now. The process is to ensure that the tax distribution is shared fairly and equitably based on market value.
• FACT: If you believe that the new assessed value of your home is inaccurate, I encourage you to contest this. See the “Assessor” page on the Town website for instructions.

Some want you to believe this revaluation is a sneaky way to raise taxes. This is also hogwash.

• FACT: Your property taxes do not change at the same percentage as your assessed property value. I have seen posts/comments on social media with homeowners stating their taxes are going up 40, 50 or 60% based on the revaluation. That is not how it works. A 60% increase in assessed property value does not mean a 60% increase in your property taxes.
• FACT: Your tax bill depends on next year’s fiscal budget. That process has just begun. The First Selectperson, department heads, and the Board of Education are working to propose budgets. These budgets will be scrutinized by the Board of Finance (March) and the RTM (April). Thereafter, in May, the Board of Finance will determine the new mill rate as the final step in the process.
• FACT: In Connecticut, property tax rates are expressed in “Mills” (thousandths of a dollar). Property tax rates are applied to the assessed value of property (which represents 70% of appraised/market values). Fairfield’s current mill rate is 28.39. Unless you have been living on the moon, we all understand that over the past five years, our home values have increased significantly. But this doesn’t mean your new tax bill will increase in the same manner (i.e. 40, 50 or 60%). After the budget process is over, the mill rate will decrease significantly; with higher home values, we will not need that same property tax rate (28.39) to fund our town budget. No one knows the mill rate until after the budget is approved.
• FACT: To be upfront, a revaluation presentation given to the Board of Finance showed that residential property values increased by 64% and commercial values by just 17%. This places a higher percentage of the tax burden on residential property. (See Tyler presentation posted on town website under the Tax Assessor page). The Board of Finance is aware of this challenge.
• FACT: Throughout budget season, you have many chances to weigh in on how you want your tax dollars used. It’s a lengthy process—I don’t sleep well in March—that is conducted entirely in the open with nothing “sneaky” about it.

Some want you to believe that if they are elected, things will be different.

• FACT: I have no idea what they are talking about. The revaluation process is mandated by state law and is playing out in Democratic and Republican led municipalities across Connecticut and in other states across the country. This has been the case for decades under both parties’ leadership. Moreover, as detailed above, the budget is an open public process.

I hope this is helpful. Please stay informed and don’t fall for any political or similar nonsense that you see or hear regarding the revaluation and upcoming budget process.

I look forward to your input and encourage you to get involved as we formulate next year’s town budget.

John Mitola

Member Board of Finance