Torrington Council debates mill rate to attract new businesses amid taxpayer concerns

In a recent special meeting held on May 12, 2025, the Torrington City Council and Board of Finance engaged in a critical discussion regarding the city's tax strategy and its implications for local businesses and residents. The meeting highlighted the urgent need to address the city's tax base and the potential impact of tax increases on the community.

Council members expressed a consensus on the necessity of increasing the tax base by attracting more businesses to Torrington. One council member emphasized the importance of reducing the mill rate to make the city more appealing to developers, suggesting that a lower rate could facilitate the growth of profitable businesses. This sentiment was echoed by others who noted that the city has shovel-ready properties available for development, which could be leveraged to attract new enterprises.

However, the discussion also revealed concerns about the immediate effects of tax increases on residents. Several council members acknowledged that many taxpayers in Torrington are already feeling financial strain, and any increase in taxes could further burden them. The idea of phasing in tax increases over two years was proposed as a way to give residents time to adjust, though some members opposed this approach, arguing that it could lead to confusion and dissatisfaction among taxpayers.

The conversation also touched on the importance of effective communication from the mayor's office and the council to ensure that residents understand the rationale behind tax decisions. Council members stressed the need for clear messaging about the long-term benefits of attracting businesses, which could ultimately lead to a healthier local economy and potentially lower taxes in the future.

As the meeting concluded, it was clear that while there is a shared commitment to fostering economic growth in Torrington, the council faces the challenge of balancing the needs of taxpayers with the goal of creating a more business-friendly environment. The discussions set the stage for future decisions that will shape the city's financial landscape and its ability to attract new investment.