Municipal revaluation are underway in Connecticut. If you are a property owner in these towns, you will soon receive a letter advising you of your new assessment. The list below is of municipalities currently conducting a town-wide/city-wide revaluation.
Ansonia, Berlin, Bethel, Bozrah, Bristol, Canaan, Cromwell, Danbury, East Haddam, East Windsor, Farmington, Glastonbury, Goshen, Granby, Guilford, Middletown, Morris, Naugatuck, New Britain, Newtown, North Canaan, Orange, Plainfield, Preston, Redding, Ridgefield, Roxbury, Simsbury, Southbury, South Windsor, Sprague, Stamford, Sterling, Stonington, Warren, Waterbury, Waterford, Wilton, and Winchester.
Municipal assessments must fairly reflect continued diminution in property values. While the U.S. economy rebounded in 2021, growth in 2022 slowed due to increased inflation and data shows a slowdown in overall growth of commercial real estate. Apartment rent growth has slowed and the demand for multifamily units is now lower when compared to prior periods. Furthermore, office, retail and hospitality sectors continue to struggle.
We appeal property taxes assessments for national and regional companies and have successfully achieved significant assessment reductions. We are familiar with the various methodologies available in seeking relief as well as other factors that are relevant to assessing officials. Our experience in appealing real property assessments includes successful appeals of hundreds of commercial, industrial, and multifamily residential properties.
As you may know, the statutory deadline to file an application with the Board of Assessment Appeals is February 20th. Some municipalities may seek an extension to publish their grand lists which, in turn, extends the deadline for property owners to file the application to March 20th.
If you would like to discuss an appeal of your property assessment, please feel free to contact Scott Schwefel at (860) 606-1712 or, via email, at email@example.com .