What is a revaluation?

A revaluation is an update of all property tax valuations to reflect real estate market conditions as they existed in the 12-months preceding the assessment date (January 1st).  The share of total tax revenues that each home or business owner pays is dependent on fair and equitable assessed valuations.  

Revaluations are performed by the Town’s contract tax assessor and entail acquiring and analyzing sales data, updating land and building schedules, and testing valuations produced by the office’s Computer Assisted Mass Appraisal (CAMA) system to insure that the goal of fair and equitable assessments is met.  Assessed valuations are audited and certified by the Department of Revenue every third year.