Revaluation
Each town in Connecticut is required by law to revalue all of the real estate within it at least once every five years. The date of value and the assessment date were October 1, 2007. The previous revaluation was completed as of October 1, 2002. The next scheduled revaluation will be for the October 1, 2012 assessment date.
In a revaluation, the market value of each property is estimated and that estimate becomes the basis of the assessment for the following year's tax, and for the four years following that. The revaluation equalized each property's tax burden relative to its current market value, that is, the market value as of October 1, 2007.
Each property must be viewed once every ten years. This town-wide data collection was done for the 2002 revaluation and was not repeated for the 2007 revaluation. Properties that sold were inspected in order to be sure that the assessor's office had a good understanding of what sold before applying that information in the valuation of other properties.
The town hired PBS Systems, LLC, of Hartford to assist in the valuation of the real estate.
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