Assessments for Real Estate are computed at 70% of market value at the time of the last revaluation. Revaluation of real estate is required every five years pursuant to Connecticut General Statute Sec. 12-62. The next revaluation is scheduled for October 1, 2023.
Your assessment is based on an estimated market value. To arrive at this value, the Assessor must examine all qualified sales to see what the market is doing. The Assessor uses three nationally accepted appraisal approaches to value: cost, income, and market. The Assessor’s Office also maintains records of property ownership, lot size, building details, land maps, gross assessments, and net assessments including personal exemptions.
