Letter: Property tax revaluation underscores unfairness
Published 6:34 am, Tuesday, September 15, 2015
Fairfield's new property tax proposals are obviously unfair, increasing taxes on 90 percent of the homeowners while decreasing taxes on the top 10 percent. Specifically, homes worth under $1.1 million (90 percent) would get a 3 percent increase. Homes between $1.1 and $1.4 million would get a 3 percent decrease. And homes above $1.4 million would get a 9 percent decrease! But, as reported in the real estate page of the Sept. 4 Fairfield Citizen, the proposals also are out of touch with market reality.
Look at the first property listed there: 127 College Park Drive, sold for $770,000. Taxes: $13,768. After the 3 percent tax increase, taxes would represent 1.84 percent of the property’s value.
The paper lists only one property reported as more than $1.4 million, 129 Quarter Horse Lane, sold for $1,950,000. Taxes: $37,267. After the 9 percent reduction, taxes would represent only 1.73 percent of the property’s value.
It gets worse: The featured home on the page, 753 Sasco Hill Rd., is listed for sale for $3,195,000. Taxes: $43,403. Even before the 9 percent reduction, taxes represent only 1.35 percent of the property’s value. After the 9 percent reduction, taxes would represent only 1.23 percent of the value!
Clearly something is out of whack here. The market speaks for itself. It seems that our local government is creating a reverse Robin Hood tax policy in Fairfield. In a time of growing concern about income inequality, this proposal is particularly tone deaf. I’d certainly think that most elected officials would view any plan to increase taxes on 90 percent of the population, while reducing taxes on the wealthiest 10 percent of the population (by as much as 9 percent), as an invitation to political suicide. I hope they will scuttle this plan and come up with something that is equally fair for all Fairfield property owners.