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Meriden averts property tax increase with new $202.86 million budget
Meriden averts property tax increase with new $202.86 million budget
Meriden City Hall. | File photo
May 18, 2021 03:24PM
By Nick Sambides Jr., Record-Journal staff
MERIDEN — The City Council voted 9-2 on Monday night to approve a $202.86 million budget that will use about $1.2 million in anticipated federal American Rescue Plan Act funds to save taxpayers from a property tax increase.
The council’s actions effectively will keep the city’s property tax rate at 40.86 mills instead of a projected 41.25 mills that would have come without the federal funds. At 40.86 mills, a property valued at $200,000 will have a property tax of $5,720 annually, or $230 less than with the higher mill rate. One mill equals $1,000 in assessed value, but state law requires that properties be taxed at 70 percent of the appraised value. ....

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