Stratford, Connecticut Delays Revaluation: A Temporary Relief for Commercial Property Owners

In Stratford, Connecticut, commercial property owners are gaining a temporary reprieve from potential tax changes because of the town’s decision to delay its property revaluation process until early 2025. This postponement, approved by the town council and supported by state lawmakers, addresses the need for a new tax assessor following the resignation of the previous assessor, Donna Calicchio. Chris Tymniak, the town’s chief administrative officer, highlighted the complexities of integrating a new assessor into an ongoing revaluation, likening it to managing a rapidly moving process without sufficient oversight.

For commercial property stakeholders, this delay is significant as it maintains the status quo of property valuations, avoiding immediate adjustments that could impact tax liabilities. With the town’s “grand list” of property values rising to $5.14 billion in 2022—up 7% from 2019—the upcoming revaluation is expected to play a crucial role in determining future tax rates. The decision to keep the mill rate flat for the next fiscal year reflects the town’s intent to ensure a thorough and accurate assessment process, critical for maintaining equitable tax burdens across commercial properties. The postponement will provide Stratford with the necessary time to engage a qualified assessor, ensuring that commercial property valuations are conducted with precision and fairness.

The local experts at Ryan can assist with navigating the Connecticut appeal process and have a proven history of successfully reducing property tax assessments by ensuring properties are accurately assessed.