CT PROPERTY TAX MINUTE: September 2011
2011 Revaluations – The First Phase in the Process
Connecticut municipalities undergoing real property revaluations as of October 1, 2011 will mail preliminary values to property owners between October and December of this year.
Prior to that time, property owners may be contacted either through the mail or in person by data collectors or representatives of revaluation companies or assessors’ offices. Information regarding the characteristics of each parcel will be collected such as land and building square footage, year built, number of floors, etc. Property owners are encouraged to participate in this process so that the most accurate data possible may be utilized by the community in developing a parcel’s value.
Recent market transactions within the municipality including sales, leases and new construction are also studied as part of the revaluation process. This helps to establish benchmarks to be applied to properties within given property classes in order to estimate their values. Once preliminary values have been established and reviewed for consistency, they are mailed to property owners.
If a taxpayer wishes to discuss a proposed assessment, there is usually an opportunity to schedule an informal review. Normally appointments are scheduled for a short period of time right after the notices are issued. The informal review is essentially a meeting with the revaluation company and/or a representative of the assessor’s office to discuss the value placed upon a specific property. The review can result in an adjustment of the property’s value based on the additional data and information provided by the taxpayer. Property owners are encouraged to take advantage of this opportunity as such meetings are held before the grand list is finalized and before appeals to the Board of Assessment Appeals must be filed. Pullman & Comley can assist clients in maximizing their opportunities at this level.
For more information, please contact any attorney in the Property Valuation Department.
Did you know?
Connecticut has a self-reporting system for personal property.
In Our Next Issue
Market outlook for this year's revaluations