Generally: Real estate is assessed on 70% of its value as of the assessment date (October 1st). The assessment will remain constant until the next revaluation, unless: improvements or physical changes are discovered, or corrections made to the data. Zone changes or variances may have an impact on value, hence the assessment may change. It is also possible that a change will create a decrease in value.

Revaluation: Every five years municipalities are required to implement a revaluation by state law. The next revaluation required for the town is 2022. One of the criteria is that the Assessor or representatives of the Assessor conduct interior and exterior inspections of all properties within the municipality. In order to comply with the law the Assessors' office has begun the process of conducting interior and exterior inspections of all properties for the 2022 revaluation project. Between now and 2022 letters will be sent to specific neighborhoods letting you know when we will be in your area. For those properties that have been issued building permits you will be asked to allow us to perform an interior and exterior inspection at the time of the visit for the permit. Utilizing this approach in conducting the inspections for the 2022 revaluation project will result in reducing the cost to the town for the completion of the project. Your cooperation is greatly appreciated in this effort as it will ensure equity and fairness for all.

Commercial Property: Income is a factor in the valuation of commercial properties, and all commercial properties will be required to submit an Income and Expense Report annually, at least 3 years prior to a Revaluation. A statutory change is that the Assessor may request more frequent filings of the I & E. If required, the I& E is due June 1st of any given year, and failure to submit will result in a 10% statutory penalty on the next Grand List.