Greenwich property revaluation underway - what it means for your wallet

Greenwich has begun its state-mandated town-wide revaluation which will establish the October 1, 2025 Grand List property values. Assessment notices will be mailed to property owners in November 2025.

You can informally appeal the results with the Assessors' Office through mid-January 2026. Formal appeals must be filed between Feb 1 and Feb 20.

The Town of Greenwich's adopted budget of approximately $516 million, represented a +3.93% increase for the current fiscal year. It was an intense battle between the frugal Republicans and the free-spending Democrats. For the current 2025-2026 fiscal year, the Greenwich mill rate (the tax on your property value) was set at 12.041, representing a 2.81% increase from the previous year.

How do you square the difference between the higher budget increase and the lower mill rate increase? That's because the budget is funded by more than just property taxes. It includes non-tax revenue (grants, fees, investment income) and the Grand List. Crucially, the Grand List (the total value of all taxable property, including new construction and new businesses) has grown, allowing the town to spread the budget's increased cost across a larger tax base.

Your property tax will be based on how your individual property's assessed value changed relative to the town-wide average. If your property value increase outpaces the town-wide Grand List growth, your taxes will rise.

Areas with high market demand - particularly walkable communities such as Old Greenwich, Riverside, Cos Cob and parts of downtown Greenwich - are likely to see a disproportionate assessment increases. Homeowners in these areas should prepare for potentially significant adjustment.

Between the Lines: Now you know why members of the Board of Estimate and Taxation (BET) have fought so hard to control budget increases: to minimize the property tax burden passed on to residents through the mill rate. Vote like your wallet depends on it. 🗳️

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