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Revaluation of Properties Coming

A revaluation of properties across the City has begun that will effect the Grand List in 2012.

“Owners of multi-family properties (2 units and up) have already received a pre-inspection letter,” said Michael Konik, city assessor. “It notifies them a representative will be coming to their neighborhood to inspect the property and verify the data.”

Vision Government Solutions has been hired by the City to conduct the process.

Letters will be sent out if owners are not home to set up a time for inspections. Single family homes will receive a field review, which is an exterior view.

“State statute does not require all properties to have an inspection each time there is a revaluation,” said Konik. “All it requires is data elements be verified every 10 years.”

Revaluations are mandated by the state to be every five years.

The value part begins Oct. 1, 2011 through Oct. 1, 2012. This means the revaluation will be based on what your property is worth during that time period.

The mill rate is a dollar amount per thousand dollars and this may change in order to keep an adequate amount of funds. The mill rate is presently 36.63. A person pays $36.63 person one-thousand of value of a home.

“If the Grand List goes down, in turn the mill rate in turn should go up,” said Konik, who does not control the mill rate. “In the end you might still collect the same amount of money. A revaluation is done to redistribute the tax burden in the City. Not every property increases or decreases at the same rate.”

Multi-family houses have seen a more significant decline in property values than single family homes so the tax burden may decrease for multi-family home owners. It could mean an increase of taxes to single family homes.

“Every five years has every property’s has to reflect what the market shows at that time,” said Konik. “The mill rate would have to be adjusted. It doesn’t mean taxes go up or down. For some it will go up and others down.”

Taxes on homes will not be affected until July of 2013.

Konik said it is impossible to see where the tax burdens will fall in 2012.

“There are so many variables,” said Konik. “A lot of things can change… For some, the change will not see a reflection in their overall bill.”

Konik said businesses are looked at differently. Sales as well as an income approach to property based on income to rents and associated costs.

“We are just starting to study the income streams on those properties,” said Konik. “We will have another study next year.”

You can see the data of your home online by going to and click on assessor then you can click to find various assessing information.

“All photo images of all properties of town will be updated as well,” said Konik. “In March we will begin a study of market place.”

Single family home field reviews will happen next June or July. Notices of new revalues will be in November or December of 2012. It will tell people new and old assessment. Hearing processes will be held if you are unhappy with the new evaluation of your home until Feb. 20, 2013 to make a formal applications. Hearings would be held in March 2013.

“People that see the greatest amount of change in their values, whether it be up or down, are going to have the most significant swing on their property tax,” added Konik.