How is the tax (mill) rate established?

The Grand Levy is the amount of revenue in the Annual Town Budget, which must be raised by the property tax. The remaining balance is received from fees, state and federal assistance and miscellaneous revenue. The Grand List is a listing of all taxable properties located within the Town on October 1, of the grand list year. The property tax rate is expressed in mills or thousandths of a dollar. Example: A tax rate (mill rate) of 35.42 mills (Trumbull’s current mill rate), or .03542 expressed in decimal form, is equivalent to $35.42 of taxes per $1,000 of assessed value. The tax rate is determined by dividing the Grand Levy by the Grand List.  

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1. Why is Trumbull undertaking a revaluation now?
2. What is a revaluation?
3. When will the revaluation take effect?
4. How will the Town revalue all property?
5. How will property owners be notified of the new assessment?
6. How do I determine what my property has been appraised at (market value estimate)?
7. What should I do if I disagree with my new assessment/market value estimate?
8. Is there a way to determine the accuracy of my assessment?
9. How will I know if my assessment is equitable?
10. How is the tax (mill) rate established?
11. How and when will my taxes be affected by this revaluation?
12. What about Veterans, Elderly, and Totally Disabled Homeowners Programs?