Revenue to run the city is primarily derived from local property taxes. This is done via a tax-levy, based upon a mill rate formula derived once the city formulates a budget. Roughly, 89% of Norwalk’s revenue for running the city in 2020-21 was derived from the property Grand List.

As mandated by Connecticut State Statutes, municipalities are required reassess and re-inventory a town’s Real Property every five years. Norwalk’s Grand List Revaluation was conducted in 2018 with a total valuation of $14.3 Billion. A detailed breakdown can be found on the Grand List tab.