As mandated by Connecticut State Statutes, municipalities are required to reassess and re-inventory a town’s Real Property every five years.

Frequently Asked Questions

What is a Revaluation? A ‘mass appraisal of all properties within an assessment jurisdiction to equalize assessed values.”

Why conduct a Revaluation? A revaluation is undertaken to 1) secure a more equitable distribution of the tax burden, 2) bring the assessment level up to date, 3) modernize assessment procedures and 4) comply with the State statute.

What does a Revaluation do? A properly conducted Revaluation eliminates the value inequities the previous five years may have created.

What is Market Value? “The most probable price in cash, terms equivalent to cash or in other precisely revealed terms for which the appraised property will sell in a competitive market under all conditions requisite to fair sale, with the buyer and seller each acting prudently, knowledgeably and for self interest and assuming that neither is under undue stress.”

Who determines Market Value? People. People make the residential property market and determine value. Other factors consider local market conditions, size and quality of a property, age, condition of improvements, an improving or deteriorating neighborhood, local zoning regulations, etc. Different considerations apply for industrial or commercial properties.

How does the city assess my property and determine my tax bill? Property assessments are based on 70% of market value. After reviewing budget requests and public input, a cap is set and Council sets a mill rate. A Revaluation addresses values NOT taxes, but a municipality should live within its means and not overly burden taxpayers with excessive spending.

What if I don’t agree with the city’s assessment of my market value? A first step is to contact the Tax Assessor’s Office. Appointments can be made for Informal Hearings to review the new market value. There is also an Assessment Board of Appeals. If still unsatisfied, you can appeal to the courts as provided under Section 12-117a and 12-119 of the Connecticut General Statutes. Following the 2018 Revaluation, there were a record number of lawsuit appeals that are now working their way through the court system.

Grand Lists go up and down in between revaluation years, as new developments come on line. If there are appeals, it can take a year or two to adjust the value. Below is a sample of the top property gains and losses in 2017. Note: Most of adjustments down are for LLC (developers.)