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1099 Form 2025 Bridgeport Connecticut: What You Should Know
Revenue projections for fiscal 2025 reflect this decline and include more aggressive assessment rates and a revised property valuation formula. Bridgeport, Connecticut — Fitch Ratings Aug 17, 2025 — Following an 11.5% growth in revenues over fiscal 2015, the City expects revenue from the municipal taxing district to decline by 9.9% over the 2017-19 fiscal year. The decline in revenue due to higher assessments and new tax rates was forecast in fiscal 2025 and the 2017-19 biennium, but not in fiscal 2022. In the next biennium, the City foresees a decrease in revenue resulting from the proposed reduction of the residential assessment to 4.25%, a new assessment base for commercial and industrial property to the general assessment system and the creation of a new land value tax, all of which are proposed in the State Senate and House of Representatives bills.  Newark, New Jersey — Fitch Ratings Aug 21, 2025 — After a six-year period of flat revenue growth, the City of Newark anticipates a 5.1% increase in expenditures in fiscal 2025 versus the prior year, largely on staffing and other operating costs. Although the City anticipates lower revenues in fiscal year 2022, based on the City's current assessment base, the City anticipates a more moderate 10% decline in revenue compared with the prior fiscal year, due primarily to new tax rate and assessment structure, tax base reduction and revised property valuation formula. Bergen County — Fitch Ratings Aug 21, 2025 — The revenues to the county were 14,972; of which, 14,821 or 76.8% was from the State's assessment base of 6.9% of the county's taxable property, and the remainder was from the general assessment of .3%. The county will face a decline ranging from a 5% decline to a 7% decline in the revenues to the county, as compared with the prior fiscal year, based on the County's current assessment base, and the rate at which assessed land values are lower than assessed land values.  Cedar Rapids, Iowa — Fitch Ratings Aug 21, 22, 22, 23 — The revenues to Cedar Rapids County in 2016-17 were 10,823; of which 10,914 or 73.6% was from the State's assessment base of 7%; and the remainder from the general assessment of .1%.
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