Hartford Revaluation 2011 – Mill Rate Estimate

Thursday’s Hartford Courant contained an article and photo gallery projecting possible tax bills for a number of different properties in the City of Hartford. Their story contained just enough information to figure out what their model of the revaluation’s results say about the mill rate and residential assessment ratio. The Courant is projecting that the three property classes will have assessment ratios of 70% for commercial, 50% for apartments (which now includes four-family buildings) and

West Hartford Revaluation 2011 – Mill Rate Estimate

Last Tuesday we wrote about the West Hartford revaluation, focusing on the informal hearings that allow individual property owners to challenge the market values that they received in the mail from the Town. Today we turn our attention to analyzing the big picture results of the revaluation. Amanda Falcone’s piece in the Thursday’s Hartford Courant quotes West Hartford Assessor Joseph Dakers Sr. as saying the new market values will “likely cause the town’s grand list

Property Taxes in the City of Hartford

One of the most difficult conversations that I have as a real estate agent is explaining the property tax system in the City of Hartford. Most of the time the subject comes up as I’m touring around with a buyer and trying to cover various home buying subjects as we drive from one property to the next. My client will casually ask about taxes, expecting an answer along the lines of “They’re low/high compared to

West Hartford Revaluation 2011

It’s time for a property revaluation in West Hartford, something the state requires towns to do every five years. Revaluations can seem scary to homeowners, and are often associated with tax increases. Hopefully the discussion that follows will help prepare you for the process, so that you understand what is happening and how you may be impacted as a West Hartford homeowner. The Big Picture Connecticut towns generate a significant portion of their revenue from

Property Taxes and Revaluations

We’re sensing some confusion over the future direction of property taxes among some of our buyer clients and homeowner friends. We don’t know pretend to know exactly what will happen, but have a theory we thought we should share: You’ll notice that property values (assessments) do not figure into the property tax calculation. Even though your home, or the home you hope to buy, may have fallen in value since the last revaluation, you should