Brian’s turn: Westport finance 101, revenue

The following is the first in a series of articles about the Town of Westport’s finances. Written by ex-Board of Finance Chairman Brian Stern, this piece explores the recent revaluation of town properties and what it means to taxpayers.

Westport Journal presents these pieces of news and analysis to help readers better understand town finance: the dynamics that create the town’s revenue, how that revenue is spent, the major drivers of town budget increases and how the town manages capital and infrastructure expenses. We plan to also put the decisions made by the Board of Finance and the Finance Department into the larger context of continuing to secure a safe and predictable long-term future for the town.

By Brian Stern

WESTPORT–Earlier this month, First Selectman Kevin Christie sent all property owners a letter informing them of the new assessed value of their property. 

These assessments are a key factor in determining each property owner’s tax bills. As property taxes are the town’s primary revenue, determining each property’s value accurately is crucial to ensure that everyone pays their fair share of the cost of providing local services and maintaining Westport’s financial health.

Last week, Westport Journal discussed town revenues and the current revaluation process with town Finance Director Gary Conrad.

According to Conrad, the town is in a strong financial position. Revenues are robust, the current debt is sustainable, reserves are adequate and financial processes have served the town well. 

Town statistics

The latest town bond offering document offers some up-to-date statistics about Westport. Westport is a town of 27,300 folks, including 5,250 public school students, in 10,300 residences. The town is operated by 1,280 town employees, 980 of them serving the Westport Public Schools. Our income distribution is wide. While the average family income is well in excess of $250,000 per year, 15% of families have household incomes below $100,000 per year. Almost half of those, 7% of the total, make less than $50,000 per year. We benefit from a unique set of town services, including best-in-class education and a host of social amenities. This community strength has historically made Westport an attractive and prosperous town by any standards. 

Revenue–the big picture

Running the Town of Westport costs $250 million to $260 million a year, including services, debt service and pension and benefit obligations. 

Of this expenditure, 85%, or $215,000,000, is funded by property tax. The remaining 15% comes from non-tax revenue. That, in order of significance, consists of: revenue from building licenses and real estate conveyance fees; the Parks and Recreation Department; charges for services such as EMS and the transfer station; and a small number of grants from the State of Connecticut.

Most of the property tax sum–81%–is from residences. The balance comes from commercial properties (12%), automobiles (4%) and other property (3%).

How tax bills are calculated

Three variables set each property owner’s annual tax bill:

• The assessed value of the property
• The total taxable value of all property in town (called the “grand list”).
• The town’s annual budget. 

In May of every year, the Board of Finance sets a “mill rate,” or the amount each property owner pays per $1,000 of assessed value, by dividing the town budget by the grand list. An individual property owner’s tax bill is the mill rate multiplied by the property assessment.

The establishment of the grand list will conclude the revaluation process, which began earlier this year. Every five years, by Connecticut State statute, the town employs an external valuing service to perform the revaluation task.  

A key objective–shared by both the administration and homeowners–is to ensure that the elements that comprise the property tax calculation are as accurate as possible.  

The revaluation process

For the 2025/26 revaluation, which will cost the town about $750,000 according to Town Assessor Paul Friia, the town used Vision Government Solutions. The revaluation process assesses the market value for each of the town’s taxable properties. By state statute, each property’s assessment is 70% of its market value.

Importantly, if your individual property shows an increase from the prior assessment, it does not mean you will pay more in taxes. The amount of tax you pay next year will depend on your valuation relative to the rest of the town (i.e. your share of the grand list), and what the town spends on expenses. 

What were the results of this revaluation cycle? On average, the residential valuation increase was 61%, from 2020 to 2025. For the same period, commercial property value increased  17%. Those changes are in line with neighboring towns, according to Friia, the assessor. Fairfield residences increased 64% in their cycle and Stamford increased 25%. Stratford and Bridgeport increased by approximately 80%. 

So what caused this apparent large increase? Conrad attributes the change to three factors:

• The prior cycle saw relatively low-market price inflation.
• We are experiencing the full impact of COVID demographic shifts.
• During this period,  folks improved their properties; many properties were levelled and replaced with larger ones  with higher valuations.

Conrad added that the median sales value of all Fairfield County residences in the same period increased more than 50%, almost as much as in Westport.

As an example, the revaluation of my house on Covelee Drive was very close to the town average of 61%. If my tax bill increases, it will be more a function of the Town’s spending going up than the change in my valuation.

How do the new valuations by section of Westport compare? According to Friia, while the town-wide average is 61%, the average increase north of I-95 is approximately 66%, compared with an average increase of 57% south of the Interstate. This represents a slight reversal from the general historic trend of property values closer to the sound rising at a higher rate. Remember, house values are specific to each individual property, and that your home valuation may not be reflected in these averages. 

What is fair?

How do you determine if your specific valuation is fair? 

First, check the public database of town properties to make sure the technical aspects of your property are correct, i.e., confirm that the town has properly counted the number of bedrooms, bathrooms and so on. 

Second, check with your neighbors about the new values of their properties to make sure the properties in your neighborhood are consistently valued. 

Third, try to find recent selling prices in your section of town. 

If, after this analysis, you feel errors may have been made, you can call 800-844-4300, before the end of the day on Dec. 26 or visit the Vision website to set up an appointment to discuss your property’s assessment.

Assessor Friia expects about 8% of taxpayers to meet with Vision Government Solutions, up from about 6% during the last two revaluations.

If, after all that research, you remain dissatisfied, you can appeal to the Board of Assessments of Appeals no later than Feb. 20 2026. Remember that, at that appeal, your tax may be reduced, stay the same – or rise. So consider carefully before taking that step.

The Westport Journal would like to thank Finance Director Gray Conrad and his staff for this revenue related interview and we look forward to more insightful discussions as the budget process develops. 

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Editor’s note: The Westport Journal would like to thank Finance Director Gray Conrad and his staff for this revenue-related interview and we look forward to more insightful discussions as the budget process develops.