Mayor Ganim Announces Lowest Mill Rate in Decades; City Council Approves Historic 40% Mill Rate Reduction
Bridgeport, CT – Mayor Ganim today celebrated the adoption of the City of Bridgeport’s Fiscal Year 2026–2027 budget, marking a historic milestone for residents, businesses, and taxpayers across the city.
The mayor’s budget approved by City Council lowers Bridgeport’s mill rate by approximately 40%, reducing it to 27.95, the lowest level the city has seen in decades. The reduction follows unprecedented growth in Bridgeport’s grand list, which has risen to approximately $13 billion, reflecting increased property values, economic investment, and renewed confidence in the city’s future.
The budget also includes historic investments in education, libraries, senior and veteran tax relief, public services, and neighborhood quality of life initiatives.
“This is a truly historic moment for Bridgeport,” said Mayor Ganim. “For generations, Bridgeport residents carried one of the highest mill rates in Connecticut. Today, we are turning years of growth and investment into real relief for taxpayers while continuing to invest in our schools, neighborhoods, parks, libraries, and city services. This milestone reflects the hard work of many people who believe in this city and its future. I want to thank the City Council for approving the reduction of the mill rate along with their hard work on this year’s budget. It’s truly a reflection of a shared commitment to progress and quality of life for our residents.”
“This budget reflects years of growth and careful planning that are now producing real results for the people of Bridgeport,” stated Jeanette Herron, City Council President. “Lowering the mill rate to this level is something many residents never expected to see in their lifetime, especially while increasing investments in our schools and city services. We appreciate the partnership between the City Council and the Mayor’s office in helping Bridgeport reach this historic moment.”
The Fiscal Year 2026–2027 budget includes tens of millions of dollars in increased education funding, including the largest local investment in Bridgeport Public Schools in the city’s history. Additional investments include expanded senior and veteran tax relief, increased funding for libraries, and free park stickers for Bridgeport residents. The budget takes effect July 1, 2026.