The town assessor’s office is wrapping up its revaluation work and will mail out new values for homes and businesses by the end of the week.
According to tax assessor Nicole Lintereur, 2,755 residential properties were reviewed since February with 1,350 properties going through full interior inspections. Officials also reviewed 200 commercial properties.
The refusal rate for residential inspections was 14 percent, or 381 property owners, who didn’t allow inspectors into their homes. The town will rely on outside measurements and past inspections to determine the value. There were three commercial property owners who refused inspectors.
“The 14 percent is pretty average,” Lintereur said. “We hope to wrap everything up and have final notices out by the end of December.”
Lintereur said property owners should have their valuations later this week or early next week. Officials are working with Vision Government Solutions Inc. on the property revaluation for the 2017 grand list. The impact of the revaluation will have an effect on taxes next year. State law requires revaluation to be done every five years.
“The numbers are all over the place,” Lintereur said. “There’s nothing specific yet since we haven’t gotten the final analysis done … Some neighborhoods went down and some increased. It has been a mixed bag. We have a lot of sales data to back up our conclusions. Everything has gone very smoothly.”
A revaluation determines the current fair market value of every property in town, both commercial and residential. The revaluation equalizes the values of all properties for fair distribution of the tax burden.
Informational hearings will be held in December, allowing owners to discuss valuation and property information.