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The Bridgeport Financial Review Board immediately passed a resolution blocking the city from seeking bankruptcy protection and adopted a $319 budget for the city, ordering an 18% increase in property taxes. Bucci warned at the time that steep declines in property values could occur in the city. [15]
Examples of services provided include police and fire protection, maintenance of roads or public recreation facilities, or to provide various utilities. A special tax district has the right under Connecticut law to levy taxes on real estate and personal property within its borders. This tax is in addition to any taxes owed to parent town.
Bridgeport is the most populous city in the U.S. state of Connecticut [7] and the fifth-most populous city in New England, with a population of 148,654 in 2020. [3] Located in eastern Fairfield County at the mouth of the Pequonnock River on Long Island Sound, it is a port city 60 miles (97 km) from Manhattan and 40 miles (64 km) from The Bronx.
According to the Tax Foundation, the 2010 Census data shows Connecticut residents paying the 2nd highest average property taxes in the nation with only New Jersey ahead of them. [ 31 ] The Tax Foundation determined Connecticut residents had the third highest burden in the nation for state and local taxes at 11.86%, or $7,150, compared to the ...
Finch also supports property tax reform. He was recognized for his tax reform efforts with the Regional Impact Award by the Bridgeport Regional Business Council. In April 2009, Finch was awarded the Small Business Advocate Award presented by PartnerAmerica™, a public/private partnership of The United States Conference of Mayors and American ...
Towns in Connecticut are allowed to adopt a city form of government without the need to re-incorporate as an inner-city. Connecticut state law also makes no distinction between a consolidated town/city and a regular town. Bolded city names indicate the state's largest cities, with the most populated being Bridgeport.
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The maximum property tax credit is $200 per return [184] and any excess may not be refunded or carried forward. [185] According to the Tax Foundation, on a per capita basis in the 2017 fiscal year Connecticut residents paid the 3rd highest average property taxes in the nation after New Hampshire and New Jersey. [186]