Figure out your tax increase

|

STAMFORD — Your tax bill is probably going up. Here’s how to calculate exactly how much:

1) Look up your property’s assessed value

-Click on this link: http://gis.vgsi.com/stamfordct/, enter your address and write down your property’s total assessment for 2012.

2) Look up your taxing district

-Inconveniently, taxing districts do not appear to be listed in the property assessment or tax databases. If you don’t know off the top of your head which taxing district you live in, we’ll have to work backward. Click here: http://apps.cityofstamford.org/tax/RealEstateTaxMain.htm

-Look up your real estate billing information. Find the “rate” in the bottom left-hand section , under Grand List 2011. That number is your former mill rate. Compare it to last year’s mill rate list:

17.89 = District A
17.49 = District B
16.73 = District C
17.08 = District CS

So if the “rate” section on your billing information says 16.73, then you live in taxing district “C.”

3) Remember your taxing district but forget your old mill rate. The Board of Finance set new ones last night, find  yours on this list:

District A: 24.04
District B: 23.55
District C: 22.67
District CS: 23.10

4) OK. You have your home’s assessed value, taxing district and mill rate. Now it’s time to get out the calculator.

-Multiply your property assessment by your tax district’s mill rate and divide by 1,000. Voila! This is your tax bill for fiscal year 2013-14.

-For example, if your single family home’s assessed value is $414,398 and you live in tax district “A,” this is how you calculate your taxes:
$414,398 times 24.04 mills divided by 1,000 = $9,962

Comments are closed.