A few months after the birth of their son, Liz Dieckman and her husband bought a home in New Haven’s East Rock neighborhood last July.
“We’ve been here about four years now and we do see there’s been a lot of new improvements, new buildings coming up,” Dieckman said.
During last year’s citywide property revaluation, New Haven’s taxable grand list grew by about 8 percent.
“That bodes well for the city as a destination for both residential and commercial property owners because it shows property is increasing in value in New Haven,” the city’s director of communications Laurence Grotheer said.
It also factored into the city lowering the mill rate from 41.55 to 38.68.
“The resulting good news of that is a decreased mill rate which could well provide tax relief for property owners,” Grotheer said of home and business owners that did not see their property value go up.
The owner of a home with a property value of $150,000 should save $430.
Dieckman said her home value hasn’t gone up, so her family should have more money in their pockets after paying taxes.
“Certainly always improvements to the house and other expenses that come up,” she said of how she’d spend the extra money.
Ten year New Haven homeowner Lisa Knight is thrilled to learn she may pay less on taxes.
“So now I got a little bit of more money that I can use toward my budget to help me get the things done that I need to get done in my life,” Knight said.
While New Haven’s Board of Alders approved their $539 million dollar budget for the upcoming fiscal year, adjustments may still need to be made depending on how much funding the city receives from the state.
“For sort of the short term its good in terms of mill rate going down,” Dieckman said. "But certainly harder to cover other projects and things in the city with less money available.”
New Haven property owners should check the reassessed values of their properties to find out if they will have more money in their wallets.