THE MILL RATE FOR THE 2016-17 BUDGET HAS BEEN SET TO 27.73
What is a Mill Rate and how does it affect me?
The Mill Rate is the Tax Rate the town uses to determine your annual taxes. In April/May of each year, the taxpayers vote on the Annual Budget. If passed, the Board of Finance will then set the mill rate. The Tax Rate is expressed in mills, or thousandths of a dollar. So a 27.73 Mill Rate means you will pay $27.73 in tax per $1,000 of net assessed value. The mill rate of last fiscal year was 27.34.
What am I being taxed on?
You will be taxed on Real Estate, Personal Property and Motor Vehicles.
Real Estate – All real property listed on the Grand List.
Personal Property –In the most general terms, personal property is everything subject to ownership, excluding land, any interest in land or any permanent improvement thereon. It is property that is not permanently affixed to or part of real estate. By its very nature then, personal property is moveable. This broad definition includes tangible items such as airplanes, boats, campers, unregistered vehicles, furniture, fixtures, equipment, and animals.
Registered Motor Vehicles – Vehicles listed with the Department of Motor Vehicles are coded by tax town, and the Assessor is provided a list of registered vehicles annually. Willington’s Town Code is 160.
How is the Assessment of My Property Determined?
State law requires that all property subject to local taxation be assessed at 70% of fair market value. Real Estate assessments represent 70% of your property’s fair market value as of October 1, 2013, the date of the last completed revaluation.
What is the Grand List?
The Grand List is a listing of all taxable properties, by assessment value, located within the town on October 1st of the Grand List year. The upcoming tax bills are based upon the 2015 Grand List, all taxable property in the town as of October 1, 2015.
What is revaluation?
The primary purpose of a revaluation is to eliminate any assessment inequities that may have developed since the implementation of a previous revaluation. This is accomplished by updating the assessments of real property to reflect their fair market values as of October first of the revaluation year. Upon the implementation of a revaluation, there is a balancing of a town’s real property tax burden among its taxpayers. State statute requires that all real property be revalued once every five years. The primary purpose of a revaluation is to provide the Town and its taxpayers with a fair and equitable distribution of the tax burden.
When can I expect my Tax Bill?
Tax bills will be mailed on or before July 1, 2016, the due date. All tax bills are mailed directly to property owners unless the Tax Collector receives specific instructions to send the bill to your bank or financial institution.
Real Estate and Personal Property tax totaling $100 or more are due in two installments; July and January. Motor vehicle tax is due in one installment in July. Failure to receive a tax bill does not exempt you from paying taxes or interest. If you do not receive a tax bill, please contact the Revenue Collector’s Office.
If you receive a tax bill in error, do not ignore it. Please contact the Assessor’s Office to get resolved.
How much do we get in State Aid?
State Law (Section 21-130 B) requires us to state the following: the 2016-17 budget for the Town of Willington estimates that $4,151,139 will be received by the State of Connecticut. Without this, the mill rate would be 37.03.