Greenwich Grand List gets Grander - what it means for your property taxes
- Guy
- 3 days ago
- 2 min read
The 2025 town-wide revaluation of Greenwich real estate is underway. Since the last revaluation in 2021, residential property valuations have risen about 31% to $53.7 billion and that should make you happy, assuming you already live here. This higher valuation should make you happy, assuming you already live here, because it means there is larger base of property values to absorb town operating expenses. However, if you live in a "hot" Greenwich neighborhood, such as Central Greenwich (D1), more of the tax burden will be shifted to you.
The town assessment mailer was helpful in explaining this. It showed you, not only the increase in your valuation compared to 2021, which was eye-popping to say the least, but also what this increase would mean for your estimated taxes in 2025 compared to your current taxes. Keep in mind that these 2025 estimated taxes do not include the likely increases in the town budget. Under Republican control, the town budget (BET) has increased about 2-4% annually. With Democrats now controlling the BET, it's anyone's guess what will happen with budget increases.
The Greenwich Assessor provided an important map and analysis here of the increase in residential valuations by District. Here is the list, by District, sorted by largest to smallest increase:
Central Greenwich (D1) +38.3%
Cos Cob (D8) +30.8%
Greenwich Harbor (D2) +30.8%
Northwest Greenwich (D10) +29.1%
Northeast Greenwich (D11) +28.5%
Mianus (D12) +28.4%
Byram (D4) +28.4%
Old Greenwich (D6) +26.4%
Glenville (D9) +25.9%
North Central Greenwich (D7) +25.0%
Riverside (D5) +25.0%
Western Greenwich (D3) +22.7%
If you are at the top of the list, it is likely that your estimated taxes will be rising based upon the shift in valuations throughout Greenwich. Holding the line on the town's operating budget will help everyone.
Between the Lines: Welcome to the hot neighborhoods of Central Greenwich, Cos Cob and Greenwich Harbor, where you will pay for the privilege,