An assessment is the value placed on property appearing in the Grand List—the list of all taxable and tax-exempt property in the town. To determine the tax liability for a particular property, the property assessment is multiplied by the town’s mill rate. In Connecticut, an assessment is equal to 70 percent of the fair market […]
Fair market value is a legal term defined by the courts and state statute as the purchase price that a property would bring on the open market, given prudent, knowledgeable, and willing buyers and sellers. Fair market value is the standard by which the fairness of all assessments is judged. Buyers and sellers determine the […]
The assessor follows: Connecticut General Statutes (primary Title 12) relevant case law (which assists in interpreting these statutes) regulations and administrative pronouncements from the State of Connecticut Office of Policy & Management, Intergovernmental Policy Division.
The tax rate, or mill rate, is set annually by the elected Board of Finance members once the town’s budget has been approved in Town Meeting and the Regional School District 17 budget has been approved in a referendum. In simplest terms, the mill rate is the town’s levy—the amount of money the town needs […]
To judge the fairness of your assessment, two questions should be asked. First, does the assessment represent 70 percent of the probable selling price as of the revaluation date of October 1, 2021. Second, is my assessment similar to that of comparable properties in town as of October 1, 2021. The assessor’s office maintains information […]
