All persons desiring to apply for an abatement of taxes for 2016 must file for abatement in writing with the Assessing Department after they receive their final tax bill in November 2016, and on, or before, March 1, 2017.
As part of the abatement process you may wish to contact the office to obtain a copy of your Property Assessment Card. The assessed value of your property is listed there. You can calculate the assessor’s estimate of your property’s market value by dividing the assessed value by the town’s equalization rate.
Review the information listed on your property card to ensure that the information the assessing office has is accurate and up-to-date. Because this information is used to determine your assessed value, it is in your best interests to make sure that the data is correct for your property.
Please note that market value and sales price are not always the same. A number of factors may affect a residential property’s market value, Including:
External Characteristics – “curb appeal”, home condition, lot size, popularity of an architectural style of property, water/sewage systems, sidewalk, paved road, etc.
Internal Characteristics – size and number of rooms, construction quality, appliance condition, demonstrated “pride of ownership”, heating type, energy efficiency, etc.
Supply and Demand – the number of homes for sale versus the number of buyers, how quickly the homes in your are sell and
Location – desirability for a particular school district, neighborhood, proximity to transportation and other services, etc.
By examining recent sales of at least three properties in a similar neighborhood that are comparable in building style, size and construction, one can begin to get a good understanding of a residential property’s market value. However, it is important to consider the circumstances of such sales – perhaps the seller was desperate to “unload” the home, or the buyer paid much more than the asking price because there were other interested parties.
If you have any questions, or concerns, with your assessment card, please discuss them with the staff in the Town Administrator’s Office. If after reviewing your property assessment card and other comparable properties, you believe your assessment is too high you have the right to file an abatement application.