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November 27, 2024

Hartford mayor seeks $7.3M reserve for legal challenges to 2021 property revaluation

Michael Puffer | Hartford Business Journal Hartford Mayor Arunan Arulampalam at a press conference.
By Michael Puffer

With Hartford facing “numerous” court appeals of its 2021 property tax revaluation, Hartford Mayor Arunan Arulampalam is asking the City Council to set aside $7.3 million to pay for possible judgments against the city. 

“The city seeks to mitigate the impact of large property tax refunds on the operating budget by anticipating large potential refunds and reserving funds for refund payments, resulting in the creation of this fund,” Arulampalam wrote in a memo to council members.  

Cristian Corza, Arulampalam’s deputy chief of staff, said the amount Arulampalam is requesting is roughly equivalent to the amount of tax collections that exceeded budgeted expectations in fiscal 2024, which ended June 30. These funds would be drawn from the budget surplus, he said. 

Hartford conducted a state-mandated revaluation of its tax base in 2021, resulting in jumps in value for residential properties. Owners of several Class A office towers also protested the values assigned to their buildings, most of which are struggling with higher-than-normal vacancy rates amid the nationwide embrace of remote work. 

A few cases have already gone against the city. 

In November 2023, the city settled a lawsuit brought by the owners of the State House Square office complex. The city agreed to return $2.9 million in property taxes and lower future tax obligations.

In January, a New Britain Superior Court judge agreed to nearly cut in half the city’s assessed value of the 23-story “Stilts Building” office tower, at 20 Church St. Shelbourne Global Solutions, the property’s owner, estimates that will result in a repayment of about $1.6 million in property taxes, as well as a reduction in future tax obligations.
 

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