Willington Budget Referendum - Round 2 - Follow-up

To all Willington taxpayers:

My previous post summarized the tax increases for the 1,912 residential properties that I had analyzed. What it didn't do was to explain How To Estimate your tax increase - this post will do so.

First determine the percentage increase in your property's assessment. Subtract the old assessment from the new assessment value - this is the increase in $$. Divide that number by the old assessment and multiply by 100 - this is the Assessment Increase in percent.

Refer to one of the 3 charts above and find your assessment increase in percent. Follow that up until you intersect the blue line, then find the Tax Increase percent on the left side of the chart. Multiply your 2024 property tax by that percentage - this will be the estimated INCREASE in your 2025 property tax.

Example: Old Assessment = $200,000, New assessment = $300,000. Increase = $100,000.

Divide the increase by the old assessment - $100,000 / $200,000 = 0.50 or 50% (0.50 x 100). Using the appropriate chart, find 50% Assessment Increase, follow up to the blue line and then left to find the Tax Increase %. Multiply your 2024 property tax by that % and add to your 2024 tax - this will be the estimated 2025 property tax.

I hope my explanation makes sense.

Ralph H. Tulis

Willington CT