Mayor Ganim’s Budget Proposes Lowest Mill Rate in Decades; Historic Local Funding for Schools and Free Park Stickers for Residents
Ganim’s Budget Proposal Also Includes Expansion of Senior and Veteran Tax Relief, Expansion of Supervised Balloting, and Significant Increase in Library Funding
Mayor Joseph P. Ganim has officially submitted his proposed Fiscal Year 2026-2027 operating budget to the Bridgeport City Council, highlighting a major shift in the city’s financial outlook. Driven by a 62.5% increase in the Grand List to $13 billion, the proposal calls for a reduction in the mill rate from 43.45 to 27.75, marking the lowest level seen in decades.
The proposed budget leverages significant economic growth to provide taxpayer relief while investing in key areas such as education, senior services, and community resources. According to the Mayor, the plan represents a “gamechanger” for the city, combining tax reductions with record funding for schools and libraries, expanded tax relief programs, free park access for residents, and enhanced election resources.
Key Highlights of the FY 26-27 Proposed Budget:
Historic Tax Relief: The proposed mill rate reduction from 43.45 to 27.75 aims to offset the impact of property revaluation and provide long-term stability for homeowners and businesses.
Significant Car Tax Savings: Every motor vehicle owner in the city will see relief as the car tax mill rate drops from 32.46 to 27.75.
Record Investment in Education: The Mayor has proposed a $10 million increase to local education spending over two years, with $5 million taking effect immediately in this budget cycle. This represents the largest two-year local investment in Bridgeport’s history.
Support for Seniors and Veterans: To protect those on fixed incomes, the budget proposes an immediate $250 increase per household to the Senior and Veteran Tax Relief Program.
Free Park Access: The proposal includes free park stickers for all Bridgeport residents with valid auto registration.
Strengthening Election Integrity: Additional resources are allocated to expand supervised balloting in senior and disabled housing complexes starting this upcoming election cycle.
Investing in Our Libraries: The budget includes a $2.3 million increase for Bridgeport Public Libraries to enhance services and accessibility.
City Council leadership expressed support for the proposal, stating they look forward to working collaboratively with the Mayor to keep taxes affordable while making historic investments in education, community programs, and public services. The budget will now undergo review by the City Council, including public hearings, before a final vote later this spring.