Bridgeport Budget Cuts Mill Rate to 27.75, Boosts Schools and Libraries

Bridgeport Budget Proposal Would Cut Mill Rate to Lowest Level in Decades

Mayor Joseph P. Ganim has proposed a fiscal year 2026-2027 budget for Bridgeport that would reduce the city's mill rate from 43.45 to 27.75 — the lowest level in decades — made possible by a 62.5 percent increase in the Grand List, which now stands at $13 billion. The proposal, transmitted to the Bridgeport City Council on March 23, 2026, also includes major new investments in public schools, libraries, and resident services.

The mill rate reduction is the centerpiece of Ganim's budget, representing a significant shift in Bridgeport's tax landscape at a moment when property reassessments have dramatically increased the assessed value of real estate across the city. City officials have framed the proposal as a once-in-a-generation opportunity to deliver meaningful tax relief while simultaneously increasing investment in core services.

How the Mill Rate Cut Became Possible

The Grand List — the total assessed value of all taxable property in a municipality — grew by 62.5 percent in Bridgeport following recent revaluations. Because property tax revenue is determined by multiplying the mill rate by assessed value, a sharp rise in the Grand List allows the city to maintain or increase revenue while lowering the rate.

For homeowners, the impact of the new mill rate will depend on how their individual property was reassessed. Properties that saw large valuation increases could still experience higher overall tax bills even with the lower rate, while properties with more modest reassessments may see genuine tax relief. The motor vehicle mill rate would also drop to 27.75 under the proposal, down from 32.46.

Schools, Libraries, and Senior Relief

The proposed budget includes a $5 million immediate increase for Bridgeport Public Schools for fiscal year 2026-2027, the first installment of a $10 million two-year education funding commitment Ganim announced in March. Officials have described this as the largest local education investment in Bridgeport's history — a significant claim in a city that has long struggled to provide adequate local support alongside state and federal education funding.

Libraries would receive a $2.3 million funding increase to enhance services and expand access for residents. The budget also includes free park stickers for all Bridgeport residents with valid auto registration — eliminating a fee that previously limited access to city recreational areas.

Seniors and veterans would see an immediate $250 increase per household through the city's existing tax relief program, providing additional protection for residents on fixed incomes who face rising costs.

Ganim Describes Budget as a 'Gamechanger'

In transmitting the budget to the City Council, Mayor Ganim described the proposal as a "gamechanger" for Bridgeport, pointing to the combination of tax relief and new investment in schools and libraries as evidence that the city's financial trajectory has changed.

City Council leadership issued a joint statement expressing support for the budget's approach of balancing tax affordability with strategic investment in core services.

What Happens Next

The Bridgeport City Council is now reviewing the proposed budget. The process includes committee reviews and public hearings, where residents can weigh in on the spending priorities before a final vote. Specific public hearing dates had not yet been announced as of early April 2026.

If the budget is adopted as proposed, the new mill rate and spending increases would take effect at the start of the fiscal year. Residents with questions about how the Grand List revaluation affects their individual property assessment can contact the city assessor's office for a breakdown of how the changes apply to their specific situation.

The full proposed budget is available on the City of Bridgeport's website.

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