If you own or are eyeing a high-end home in Greenwich, one quiet driver of your annual carrying costs is the town’s mill rate. You want a clear, numbers-first way to understand how your tax bill is set, why it changes, and what to expect this year. In this guide, you’ll see how the 2025-26 mill rate works, what it means for luxury properties, and how to plan around revaluation and special charges. Let’s dive in.
Greenwich 2025-26 mill rate
Greenwich set its fiscal year 2025-26 town mill rate at 12.041 mills, effective July 1, 2025. That figure comes from the town’s adopted budget for the year. Local reporting confirms the decision and notes that Greenwich remains on the lower end of mill rates among larger Connecticut towns. You can review coverage of the finalized rate in recent budget reporting.
How your tax is calculated
Connecticut uses a standard two-step chain to get from price to tax.
- Assessed value = 70% of market value. This is set by state law and applied by the town’s Assessor. See the town’s explanation of assessments in the Greenwich FAQ and the state statute summary.
- Property tax = (Assessed value ÷ 1,000) × mill rate. The town outlines this formula in its FAQ.
Quick luxury examples at 12.041 mills
- $2,100,000 market value → $1,470,000 assessed → about $17,694 tax. Sourced from local reporting and town method.
- $5,000,000 market value → $3,500,000 assessed → about $42,144 tax. See the town’s FAQ for the calculation method.
- $10,000,000 market value → $7,000,000 assessed → about $84,288 tax. Method per the town’s FAQ.
Why a low rate can still mean big dollars
Greenwich’s mill rate is comparatively low, but luxury properties carry high assessed values. A small number applied to a very large base still produces a large bill. When you compare towns, compute the actual dollars using assessed value and the local mill rate rather than relying on the rate alone. The budget coverage underscores this point.
Who sets the rate and why it moves
The Board of Estimate and Taxation (BET) sets the mill rate each spring after the budget process, and it applies for the year starting July 1. The mill rate is the balancing number between the budget and the taxable base known as the grand list. If the grand list grows faster than spending, the rate can fall, and vice versa. You can review the BET’s role and schedule on the town’s BET page and the tax calculation basics in the town FAQ. Local discussion has placed Greenwich’s taxable base around the mid‑$30 billion range, as cited in budget reporting.
Revaluation timing and impact
Greenwich revalues property every five years to bring assessed values in line with the market. The next revaluation date is October 1, 2025, which can materially change individual assessments, even if the mill rate does not change. The town may choose to phase in increases over up to five years, as allowed by state law. Learn more in the town’s revaluation page and the state’s assessment rules.
Special sewer millages
Some Greenwich properties are also subject to small sewer-related millages. For 2025-26, the BET set a sewer maintenance fund millage of 0.278 and a sewer improvement fund millage of 0.040. Those amounts are added to the base mill rate for properties in the affected sewer district. See the figures in local budget reporting.
Comparing nearby towns
During the same budget season, reporting cited higher mill rates in nearby markets such as Stamford and Westport, with Darien slightly above Greenwich. But a lower rate in Greenwich paired with higher assessed values can still equal similar or higher dollar taxes. When you compare options, run the numbers using assessed value and the local rate. See the comparative context in this coverage.
Buyer checklist: model your carrying costs
- Estimate taxes: purchase price × 70% × (12.041 ÷ 1,000). Confirm with the property’s actual tax bill.
- Request the latest tax bill and check for sewer district charges. Local reporting on 2025-26 notes these sewer millages.
- Consider timing around the Oct 1, 2025 revaluation. Ask whether the town plans a phase-in. Review the town’s revaluation page.
- Watch for state shifts that affect local budgets, like motor vehicle assessment changes noted on the town’s motor vehicle page.
Seller prep: set expectations early
- Include the most recent tax bill in your disclosure packet. Use the 70% assessed value rule to explain the relationship between market price and taxes, citing the town’s FAQ.
- If your assessed value seems out of sync with the market, be ready with recent sales. If needed, you can pursue an appeal.
Managing surprises: appeals and budget season
- If you believe your assessment is inaccurate, you can appeal to the Board of Assessment Appeals, then to Superior Court if needed. Deadlines are strict. Review the town’s appeals page.
- The BET sets the mill rate each spring. If you care about holding costs, monitor agendas and votes posted on the BET page.
Work with financial-minded guidance
Luxury real estate decisions deserve clear math, timing awareness, and careful execution. If you are buying, selling, or planning around the 2025-26 mill rate and the 2025 revaluation, you will benefit from a senior advisor who can model scenarios and frame tradeoffs. For discreet, numbers-forward counsel in Greenwich, connect with Charles Paternina.
FAQs
What is the mill rate in Greenwich for 2025-26?
- The town set the rate at 12.041 mills for fiscal 2025-26, as reported in local budget coverage.
How do I estimate my Greenwich property taxes?
- Multiply market value by 70% to get assessed value, then divide by 1,000 and multiply by the mill rate; see the town’s method in the FAQ.
What happens at the October 1, 2025 revaluation?
- The town updates assessed values to reflect current market levels and may choose to phase in increases; see details on the revaluation page and state rules here.
Do Greenwich sewer millages apply to every property?
- No; the 0.278 maintenance and 0.040 improvement millages apply to properties in the relevant sewer district, as noted in budget reporting.
Can I appeal my Greenwich assessment if it seems high?
- Yes; you can appeal to the Board of Assessment Appeals within set deadlines, then to Superior Court if needed; see the town’s appeals guidance.
Is Greenwich cheaper on taxes than nearby towns for luxury homes?
- Sometimes, but not always; a lower rate can still produce a high bill if assessed values are higher, so compute dollars using assessed value and the local rate, as discussed in this comparison.
