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Malloy Vetoes Property Revaluation Bill

Dashes hopes of deferring projected tax increase.

Already approved by the House and Senate, House Bill 5424 was set to allow Farmington and four other towns to delay the projected effects, including a sizable tax increase, resulting from the real estate revaluation now underway. That is, until Gov. Dannel P. Malloy vetoed the legislation Wednesday, saying he refused to make a special exception for the towns or allow them to use outdated property values.

Farmington state Rep. Bill Wadsworth, along with representatives of Norwich, Windham, Stamford and New Britain, sponsored the legislation, proposing to give towns the option to delay the implementation of the new property values, which are currently being assessed, for one year.

“Obviously I’m disappointed,” Wadsworth said. “The legislation was permissive. That means the town could analyze the results of the revaluation and certainly consider the impact it would have on the grand list and have the option to delay the imposition of the revaluation - and the built-in tax increase of 4 to 5 percent.”

Wadsworth and others authored a similar bill last year, which failed.

“Our initial intent was to delay it five years, so we’re back on the 10-year program, which would have the additional benefit of not having to spend the half a million dollars to do revaluation,” Wadsworth explained.

In addition to the considerable cost of hiring a company to send assessors to tour and evaluate each property in Farmington, some have projected the new values would result in a sizable property tax increase for residential property owners, possibly up to 10 percent.

“We were concerned about the anticipated disparity between commercial and residential real estate values and the expectation that commercial properties would lose value at a substantially greater rate than residential,” explained Farmington Town Council Chairman Jeff Hogan, adding that 26 percent of the town’s tax revenue is generated by commercial properties.

“We felt if we could defer the implementation, with the economy and Jackson Labs, that disparity would be less,” Hogan said.

The town is mostly through with the process of revaluation, though inspectors are continuing to visit properties and collect data, Town Manager Kathy Eagen said Thursday. The new values will be used to calculate the October 2012 grand list and impact 2013-2014 town budget.

“We never made a decision to defer revaluation,” Eagen said. “We just wanted the option. We’re prepared to go and that’s what we’re going to do.”

Hogan underlined that the town always takes a conservative approach in preparation.

“We never count on the state to come through. This is an example of, when we could reasonably believe it was a done deal, they pulled the plug,” he said.

Malloy wrote a two-page veto message, explaining his position.

“I believe that delaying a regularly scheduled revaluation for just these communities, and not for other communities that are similarly situation, is unfair and that, regardless, delaying a revaluation at this time might exacerbate, rather than mitigate, the problems that Connecticut communities face in these uncertain times,” Malloy wrote.

LL June 08, 2012 at 08:31 PM
Yet one more reason Dan Malloy will not get my vote ever again. He is helping to make this state impossible to survive in.
Paul Chotkowski June 09, 2012 at 03:20 PM
I am not a supporter of “I want to run for President as the Progressive / Socialist standard bearer in 2016”, The Honorable Dannel P. Malloy Governor of the Land of Steady but Marxist Habits. So it may come as a surprise that I don’t criticize but rather support his veto. To quote the sentiments of the group that so many Valley citizens support [OSW], fair is fair. Cowboy up and pay your bills! Many of us told you during the recent debates on Farmington’s budget that revaluation was coming and that it would have a significant NEGATIVE impact on the taxes actually paid by homeowners. The Pro Spending crowd heaped scorn and ridicule of those of us who could count and who dared to suggest that maybe we should not raise taxes but banks some of the savings temporarily achieve as a result of concessions torn out of the fatted hands of the teachers union. Nope to the mantra of SPEND, SPEND, SPEND we are the 1%, we added staff and spent more on “needed” projects. Now the hens are heading home to roost. Revaluation is the first of the big four “imaginable horribles” are becoming real. Just wait for the compounding on the new spending to be added to the budget, the Union’s request for Make Up salary increases and benefits cost contribution Reductions to land on the negotiating table, add a drop off in the economy [again] and we will truly see economic pain at tax time not just the 10% from revaluation. Remember when prudence and thrift were considered Steady Habits.
Robert Parker June 10, 2012 at 12:51 AM
It is extremely difficult for me to say this, but, I actually agree with Paul on this one. As a Real Estate Broker for over 10 years, and having some experience in the commercial real estate business, I just do not see the commercial values dropping all that much in Farmington. I just want to see the revaluation results before we hit the panic button.
D July 21, 2012 at 01:28 AM
Good point Mr Parker
LS December 21, 2012 at 09:11 PM
Anyone really think anything will change while continuing to vote in politicians who only know how to raise taxes and spend, spend, spend??? Lets tax the rich? They will have to find the money from somewhere.... maybe it will be from cutting your hours, benefits, or possibly your job..... just a thought.

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