State Senator L. Scott Frantz Testifies in Support of Local Budget Planning

March 7, 2011

Hartford – On Friday March 4th, State Senator L. Scott Frantz (R-36) testified before the General Assembly’s Panning and Development Committee. In response to the concerns of Stamford Mayor Michael Pavia, Senator Frantz asked that the committee consider allowing cities and towns to delay state mandated property revaluations until a future year.

The Connecticut Conference of Municipalities (CCM) estimates that statewide costs would reach $6.5 million for those towns scheduled to conduct revaluations in 2011, costing small towns approximately $220,000 this year. The city of Stamford, scheduled for a 2012 revaluation, is facing a $1 million to $2 million expense, which taxpayers simply can’t afford in the coming fiscal year.

“Stamford is a shining star and a great economic contributor to our state’s revenue stream,” said Senator Frantz.

“The city should continue creating jobs and contributing tax revenue to the state.”

Michael Larobina, Director of Legal Affairs for the City of Stamford, joined Senator Frantz in supporting a deferral at Friday’s pubic hearing. Larobina stated, “Since the real estate market has not fully stabilized, moving forward with the revaluation at this time could produce an inequitable result.”

During the economic downturns of 2003, 2004 and 2009 the legislature deferred revaluations in order to provide financial relief to local budgets, realizing actual savings for many cities and towns.

“When considering economic trends, Connecticut’s economy consistently lags 18 to 36 months behind that of the national economy,” stated Senator Frantz. “So while reports state the nation is on its way out of this recession, Connecticut still has some catching up to do. Until our state has its fiscal house in order, a reasonable step towards supporting municipal budgeting is to postpone property revaluation.”