Greg Bordonaro
A number of Connecticut municipalities use tax breaks or incentives to stimulate growth. But for some, particularly cities like Hartford and New Haven with high tax rates, they can be the literal lifeblood of much of the economic development that occurs within their borders. Even towns with lower property-tax rates like Windsor resort to tax-fixing…
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A recent and notable tax-break deal the city of Hartford hatched in recent years was with one of its most prominent downtown landlords: Shelbourne Global. Shelbourne is a New York realty investor/developer/landlord that has purchased more than $200 million in Hartford real estate over the last few years, including some of downtown’s most prized Class…
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When D&D Market closed its Franklin Avenue storefront in Sept. 2016, Hartford lost more than a landmark small business. The third-generation family grocer, caterer and purveyor of fresh foods traces its Capital City roots back to 1932, when present-day owner Daniel D’Aprile’s grandfather opened a bustling market that became a mainstay on one of Hartford’s…
Read full story →To calculate any property tax bill in Connecticut, an individual or business owner must multiply the assessed value of their property by a city’s or town’s mill rate and then divide by 1,000. In the 1970s, Connecticut passed a law that required all cities and towns to adopt a 70-percent assessment ratio. That means to…
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