In recent years, house prices and residential property values have surged, with the median home price skyrocketing from $289,000 in 2020 to $418,000 in 2025 — a 45% increase nationwide. Connecticut, which saw a bit of a cool down initially, has been experiencing steeper increases in home values. Housing prices in the state have risen 67.3% over the past five years, creating large year-over-year swings in assessed property values. These fluctuations have affected the property wealth component of the Base Aid Ratio for municipalities.While historically small fluctuations in property value between revaluation and non-revaluation years did not significantly impact ECS grants, recent property value increases have contributed to volatility in the “fully funded” ECS grant amounts for towns.
This FAQ dives into this complex issue, providing high-level answers to questions about the property revaluation process and its relationship to the ECS formula. It also identifies key terms, explains how revaluation impacts the calculation of a town’s ECS grant, addresses current issues with the revaluation processes, and proposes potential solutions.
Citation
School and State Finance Project. (2026). FAQs: Impact of Property Revaluation on the Education Cost Sharing (ECS) Grant. Southington, CT: Author. Retrieved from https://files.schoolstatefinance.org/hubfs/Reports/Impact%20of%20Property%20Revaluation%20on%20ECS%20Grant.pdf.