Homeowners in Torrington are facing bigger tax bills this year after a recent mandatory property revaluation. Many homes have been valued much higher than before, and even though the city lowered the tax rate, some people will still see bills jump by hundreds or even thousands of dollars.
City officials understand this can be tough for residents to accommodate, so they’ve introduced a few ways to make it easier. One big change is a two-year phase-in plan, which spreads out the tax increase over two years instead of making people pay it all at once. The city is also using five million dollars from its reserve fund to help cover some of the costs.
On top of that, department budgets are staying mostly the same, and officials have been communicating clearly about what residents can expect.
Even with these steps, many homeowners will still notice a significant increase. Torrington homeowner and Spanish Teacher Mary Costa recognizes that, “Some people have to do without just to pay that tax bill”, despite the city’s efforts.
The hope is that by spreading out the increases and keeping spending under control, residents will have time to adjust. But for many, higher taxes are still a big change, and the full impact won’t be clear until next year.