Greg Bordonaro

Solution: Rebalance the city’s tax burden

By and , Hartford Business Journal | July 16, 2019

Hartford is the only municipality in Connecticut allowed to treat residential property owners differently from owners of commercial or industrial property. Homeowners in Hartford pay taxes on 35 percent of the market value of their properties, while commercial owners pay taxes on 70 percent of market value, like the rest of Connecticut. That bifurcated structure,…

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How much Hartford real estate is tax exempt? The percentage is higher than you think

By , Hartford Business Journal | June 26, 2019

Of the $7.1 billion of assessed real estate within the city of Hartford’s tightly confined borders, 59 percent of it is untaxed because its owners are nonprofits or other tax-exempt entities, according to a Hartford Business Journal data analysis of the city’s 2018 grand list. It’s an issue city officials have long decried as a…

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Hartford’s exorbitant commercial property tax curbs economic growth

By and , Hartford Business Journal | June 26, 2019

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…

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Meet the architect of Hartford’s bifurcated tax system

By , Hartford Business Journal | June 25, 2019

It was around Easter 1978 when John McDermott, who just a year earlier left his post as Hartford’s assessor to take a job at a national consulting firm, got a call from then city political power boss Nick Carbone, who needed help coming up with a scheme to counteract what amounted to a pending property-tax…

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Calculating a commercial property tax bill in Hartford

By , Hartford Business Journal | June 25, 2019

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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