The good news keeps coming from Hartford City Hall. Mayor Pedro Segarra announced yesterday that he has cut Hartford's mill rate 1/2 a mill. That combined with the herculean work of the Council, amounts to a full mill reduction for the upcoming year. Since the mill rate has increased over 30 mills in the last ten years, any decrease is good.
Luckily for Hartford's business community, at the rate of 1 mill a year reduction, in 30 years we can once again compete with most other Connecticut municipalities. The next highest mill rate compared to Hartford's 73 mills is New Haven at 43 mills.
To the business community, please hang in there, 29 years to go at this rate.
A "mill" equates to $1.00 taxed per thousnad dollars of assessed value, or at 74 mills, $74.00 per every thousand