Bridgeport legislators approve tax increases

Bridgeport, Connecticut legislators recently approved a 3.7 percent property tax increase by a 15-3 vote to help bridge the gap the in budget shortfalls. Over half of the revenues collected form the property tax will go to the city’s schools.

Democratic Mayor Bill finch had initially proposed a 7 percent, an amount that was not surprisingly controversial. Many people in Connecticut and the country as a whole oppose tax increases of any kind and the state is known for high taxes.

The tax increase was necessary to help reform the public school system. Paul Vallas, the man tasked with school reform said in a statement, “I thought it was a reasonable increase, given the financial challenge that the city faces.”

Tax critics in Connecticut say that the high rate discourages new business and oppose any form of tax increase. However, there are incentives to create a business in the state and a Connecticut tax attorney can detail the many breaks available to business owners and the ways they can reduce their yearly income tax.

Whether a person or business is having problems with the IRS, facing an audit, wage garnishments or a lien, a tax lawyer can help them get debt relief and stop the collection activity of state or federal agencies.

You tax attorney can work on negotiating with tax agencies to develop a feasible repayment plan on behalf of their clients.