Mayor Ganim's Budget Proposes Lowesr Mill Rate in Decades; Historic Local Funding for Schools and Free Park Stickers for Residents

Bridgeport, CT - Mayor Joseph P. Ganim today officially transmitted his proposed Fiscal Year 2026-2027 operating budget to the Bridgeport City Council, marking a milestone in the city's fiscal history. Driven by a 62.5% growth in the Grand List to $13 billion, the Mayor's proposal includes a dramatic reduction of the mill rate from 43.45 to 27.75, the lowest level Bridgeport has seen in decades.

The proposed budget leverages unprecedented economic growth to provide direct relief to taxpayers while making strategic investments in education, senior services, and community infrastructure.

"This budget is a gamechanger for Bridgeport," said Mayor Ganim. "Our city's growth has outpaced most of Connecticut, signaling a high level of investment and confidence in our future. This budget not only proposes the lowest mill rate in decades but makes the largest investment ever in our schools and libraries, expands senior and veteran tax relief, gives residents free access to our parks, and funds the expansion of supervised balloting. I look forward to working with the City Council on final approval of these proposals."

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: To ensure every resident can enjoy "The Park City," the budget proposes that park stickers be free for all Bridgeport residents (upon proof of valid Bridgeport auto registration)
• Strengthening Election Integrity: The budget provides the Registrars of Voters with additional resources to expand supervised balloting, specifically in senior and disabled housing complexes, starting this upcoming election cycle.
• Investing in Our Libraries: This budget includes a significant $2.3 million increase for the Bridgeport Public Libraries, ensuring these vital hubs of learning and community remain robust and accessible.

In a joint statement, Council President Herron and Budget Co-Chairs Ernest Newton and Richard Ortiz stated the following: "We look forward to passing this year's budget, as we work collaboratively with the Mayor to keep taxes affordable for residents while making historic investments in our schools, senior and veteran tax relief, libraries, and more. We are also pleased to see the Mayor advance a proposal discussed by the Council for many years to grant Bridgeport residents free access to our parks."

The City Council will now begin its review of the proposed budget, including meetings and public hearings conducted by the Budget and Appropriations Committee, before a final vote is taken later this spring.

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