Property taxes do not rise directly in sync with real estate values
Property values in Greenwich have jumped by an average of 27%. That’s great news for most Greenwich homeowners, whose biggest investment is now worth a lot more. At the same time, you might be wondering, “What does this mean for my property taxes?”
The first thing to know is property taxes do not rise directly in sync with property values. When property values go up as significantly as they have since the last revaluation four years ago, the mill rate (the amount of property tax charged for every $1,000 of a property’s assessed value, where one mill equals $1 in tax) must automatically go down. Here’s why: If taxes increased at the same rate as values, Greenwich would generate much more revenue than it actually needs to fund the budget.
Final budget unavailable until May
A couple of weeks ago, the First Selectman presented his Fiscal Year ‘26-‘27 budget—with a projected 4.3% increase—to our finance board, the Board of Estimate and Taxation. The BET is an elected group of finance pros who decide how and what to fund. Since the budget process will not be completed until May, we won’t know the final budget increase and, thus, the resulting mill rate until then.
And how is the mill rate determined?
It’s determined by dividing the budget by the Grand List, which is the total value of all residential and commercial property in town.
It is complicated and dense, which is why we’re so grateful for the current BET’s financial expertise and dedication to keeping our taxes low, while investing smartly in our beautiful town.
And while we cannot give you an exact way right now to figure out whether your property taxes will go up, down, or stay the same, we can give you a way to calculate them when those other blanks are filled in using information we do have, namely the new property assessments and the current fiscal year’s budget, which runs from 7/1/2025 to 6/30/26. Here’s one realistic example:
Using this formula and the data currently available, this lucky homeowner could actually see a reduction in their property taxes. Why? Because the assessment of their home increased by only about 18%. And while still a healthy increase, it’s below the 27% average, which could mean a lower resulting tax. But remember, this is a “guesstimate,” and the mill rate could be higher – or lower – depending on the final budget, which will be set in May.
We can all sleep well knowing our BET is hard at work focused on strategically investing in our future and maintaining the world-class quality of life that made our homes such great investments in the first place.
Leadership is Service: Reflections on Presidents Day
February 16 is Presidents Day in honor of George Washington and Abraham Lincoln, two of our greatest presidents whose birthdays are this month.
In the life of our nation, few voices have spoken with greater moral clarity or lasting consequence than these two presidents. Although separated by 70 years, together they created a durable compass that continues to guide the American Experiment.
Washington, in his famous Farewell Address, warned that the Republic’s greatest threats would not come only from abroad, but from within: from division that weakens national unity, from faction that places party above country, from the erosion of civic virtue, and from disregard for constitutional order and the rule of law. His counsel was rooted in restraint—urging Americans to govern themselves with humility, fiscal responsibility, and a shared commitment to the common good.
Lincoln, speaking at Gettysburg amid the horrific sacrifice of the Civil War, reaffirmed what that restraint exists to protect: a nation “conceived in liberty, and dedicated to the proposition that all men are created equal.” He reminded Americans that democracy is not self-executing, but an ongoing test—one that demands dedication, responsibility, and action from “us the living.”
Together, Washington and Lincoln teach that democracy depends not merely on institutions, but on character; not merely on victory, but on unity and purpose. They remind us that citizenship is stewardship, that leadership is service, and that the promise of self-government endures only when each generation chooses to preserve it.
Their words continue to call us—quietly but firmly—to rise above division, to honor sacrifice with responsibility, and to ensure that “government of the people, by the people, and for the people shall not perish from the earth.”
What we’re reading
Peggy Noonan, longtime columnist for The Wall Street Journal and former speechwriter for Ronald Reagan and George H.W. Bush, writes that the easily bored President Trump creates drama and chaos. She compares his threatening behavior toward our allies to that of a movie mob boss.
Greenwich resident and Substacker Kevin Driscoll pens a piece on how we’ve adjusted to the constant ugliness emanating from the White House, pointing to their recent meme portraying the Obamas as apes and how in the past, this story would have dominated…but not today.
In a letter to the editor of the Greenwich Free Press, Selectwoman Rachel Khanna tells how her late father escaped the Nazis, draws a parallel between what happened in Europe 90 years ago and what is happening here now, and urges us to speak up.
Action Calendar
February. Sign up.
Did you miss communication from the town during the recent snow storm? Make sure you sign up to get alerts from the Greenwich Emergency Management Team so you can quickly find out about snowstorms and other events that might affect your safety.
February 25. Get connected.
Are you a Democrat in the town of Greenwich? Then join your tribe for our regular monthly meeting, 7:30–9 p.m. in the Cone Room (second floor), Greenwich Town Hall, 101 Field Point Road.
March 11. Prepare.
Join Selectwoman Rachel Khanna at 11 a.m. to find out from CT Comptroller Sean Scanlon what Connecticut can do to prepare for changes to Medicare and Medicaid. Mazza Room (first floor), Greenwich Town Hall, 101 Field Point Road.
| Volume 4, Number 33 • February 12, 2026 |
| Paid for by the Greenwich Democratic Town Committee. |
| Greenwich Democratic Town Committee P.O. Box 126 Greenwich, CT 06836 |