Ouch: Get Ready for a Spike in Greenwich Property Taxes

On Tuesday, March 3, 2026, the Greenwich Board of Estimate and Taxation (BET) held its "Decision Day" hearings and the news for taxpayers is sobering. Out of a sizable $479 million annual operating budget, only $1 million in operating expenses and $777,000 in capital items were cut. Unless the full board finds more serious savings later this month, the required tax levy (total amount of money the town needs to raise through property taxes) is expected to increase almost 6% (the range now is between 5.48% and 5.94%).

Promises Broken. Greenwich has long prided itself on a fiscal policy that keeps the required tax levy increases between 2% and 3%. The projected jump for FY 2026/27 shatters that trend. Here is the recent history of increases in the required tax levy:

FY 2020/21 was 0.00%,

FY 2021/22 was 1.75%,

FY 2022/23 was 2.40%,

FY 2023/24 was 0.00%,

FY 2024/25 was 2.80%,

FY 2025/26 was 4.02%

FY 2026/27 expected to be 5.48% to 5.94%

Defending the Spending. Proponents of the budget argue that we are finally paying the "bill" for years of deferred maintenance. With major projects like Central Middle School, Old Greenwich School, Riverside School and the Hamill Rink replacement finally moving forward, the town’s "pay-as-you-go" model is being pushed to its limit. Some financial experts are pressing for long-term borrowing to spread these costs out over the life of the buildings.

Righting the Ship. Critics point to stagnant population growth in Greenwich and the shocking decline in public school enrollment, suggesting that the town budget should be right-sized for efficiencies. A growing Grand List, fueled by redevelopment and new construction, usually allows a town to collect the same amount of money with a lower mill rate. Many ask why our mill rate is increasing at all, shouldn't it decline?

Between the Lines: The days of low Greenwich real estate taxes are coming to an end.

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