Mill Rate & Distribution of Taxes

The Town of Glastonbury works on a Fiscal Year basis that runs from July 1 to June 30.  The Mill Rate is set by the Board of Finance, usually between March 15 and April 15 for the coming year, however, per Town Charter no later than May 29.  As required by State of Connecticut Statutes, every five years the Grand List of taxable property is revalued to current market values.  The years that Re-valuations have been performed in Glastonbury are mentioned in the Comments Section below.  For more information on how the taxes for the Town of Glastonbury are derived click here.

Mill Rate Historical Information
Fiscal Year Grand list year Mill Rate Comments
2001-2002 2000 34.6  
2002-2003 2001 36.7  
2003-2004 2002 28.75 Re-valuation Year
2004-2005 2003 30.9  
2005-2006 2004 32.1  
2006-2007 2005 34.0  
2007-2008 2006 35.8  
2008-2009 2007 28.35 Re-valuation Year
2009-2010     2008 29.05
2010-2011   2009 29.65
2011-2012     2010     30.05
2012-2013     2011 30.50
2013-2014 2012 35.10 Re-valuation Year
2014-2015     2013    35.65
2015-2016 2014 36.10   
2016-2017            2015  36.40 & 34.60  
2017-2018 2016 37.45 & 32.00   
2018-2019 2017 36.00 Re-valuation Year
2019-2020 2018 36.36  

Relating Mill Rate to a Tax Bill

Tax bills are generated as of July 1, the first day of the fiscal year based on the preceding October 1 Grand List of assessed property values which represents approximately 70% of market value.  Real Estate and personal property tax bills are due in two installments, July 1 and January 1.  Motor Vehicle tax bills are due July 1.

Distribution of Taxes

The Town of Glastonbury Collects Taxes for both the Town Of Glastonbury and the Glastonbury Public Schools.  The table below reflects how the taxes are put to use for the current fiscal year:

Government Entity & of Taxes Received
Town 26.1%
Education 65.5%
Debt Service  4.3%
Capital Program  3.6%
Other Transfers  0.5%

Mill Rate Setting Process

The Board of Finance sets the Mill Rate for the Town every year.  The mill rate is usually set in late March after the budget is finalized by the Town Council, however, per Town Charter, no later than May 29.  The Mill Rate is based on the Town Council approved budget, estimated non tax revenues and the grand list.  It is calculated based on the following formula:

Mill Rate =                 Current Tax Levy divided by Net Taxable Grand List

 EXAMPLE:                Tax Levy                                    $    115,000,000

                                    Net Taxable Grand List             $4,000,000,000

                                    Mill Rate                                                    .02875  

The mill rate is most commonly expressed as tax dollars per $1,000 of assessed value or in this example 28.75 mills (.02875 * 1,000).

DEFINITIONS:

The TAX LEVY is the annual budget approved by the Town Council less other non-tax revenues.  Examples of Non Tax revenues include state grants, user fees, and investment income.

The NET TAXABLE GRAND LIST is the total assessed value of all taxable property (real estate, motor vehicles, and business personal property) as determined by the Town's Assessor.  The Net Taxable Grand List equals the Total Gross Grand List less allowable exemptions.

The Mill Rate Calculation as stated above is a simplified version of the actual calculation.  Other factors which influence the mill rate calculation include the Tax Collection Rate (which estimates uncollectible tax revenues), abatements and tax credit adjustments. 

Click here for more information on how the budget is derived.

Click here for more information on how the Grand List is generated.