Solution: Alternative revenue sources could bolster city budget, lower tax rate

By and , Hartford Business Journal | July 16, 2019

In the midst of the last recession, Massachusetts lawmakers — a place where, like Connecticut, municipalities rely heavily on property taxes — gave their cities and towns a powerful new revenue-raising tool. Since 2009, by vote of a local selectboard or city council, municipalities have been able to tack on 0.75 percentage points to the…

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Myriad ideas exist to solve Hartford’s property tax dilemma

By and , Hartford Business Journal | July 15, 2019

For years, John Tornatore chafed at the high personal and real estate property taxes the city of Hartford levied on his South End flower shop. In the mid-2000s, Tornatore was fed up with the steep impacts  of a revaluation and ready to move his enterprise with roots to the days when gunmaker Colt’s dominated the…

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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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