Glossary

The words that come up when towns talk about property tax, in plain English. These same definitions appear inline on the models, on the dotted terms.

assessed value

The taxable value of a property — in Connecticut, 70% of what it would sell for. It's the number on your assessment letter.

bonding

Borrowing. The town takes out a loan for a big project and taxpayers repay it, with interest, over decades.

exempt

Removed from the tax rolls. The value is still there; it just isn't taxed.

fire district

Enfield has five separate fire departments, each with its own tax on top of the town tax. Which one you pay depends on where you live.

grand list

The list of every taxable property in town — homes, businesses, cars, equipment — and what each is worth for tax purposes.

homestead exemption

A discount on the taxable value of a home you own and live in. The town still collects the same total, so the rate rises on everything else.

levy

The total dollars the town collects in property tax for the year.

mill rate

The tax rate. One mill is $1 of tax for every $1,000 of assessed value.

revaluation

Every five years the town re-measures what every property is worth. It doesn't change the total collected — it re-divides who pays it.

take-up

The share of eligible homeowners who actually file the paperwork to get the discount.