In this episode of "This Week in the City" focuses on property assessment and taxes in the City of Danbury
Property Revaluation
The main purpose of property revaluation is to correct inequalities in the tax burden that have developed since the last revaluation.
Revaluation is a revenue-neutral process. This means that a municipality's tax levy is not changed by the revaluation, thus the total amount of taxes the City will need to collect will be about the same, regardless of whether or not a revaluation takes place. What does change in a revaluation is the amount of taxes individual taxpayers pay. In July, following a revaluation, the first tax payments under the new values will be due.
In accordance with Connecticut General Statutes, the City must conduct a revaluation every five years. Revaluation is a long process, one that takes almost two years to complete between the start of the process and the payment of the first tax bills after the revaluation.
The City of Danbury last completed a revaluation for the Grand List of October 1, 2017, and is currently conducting a real property revaluation for the Grand List of October 1, 2022. This revaluation will correspond to the tax bills that will be due beginning in July 2023. The City of Danbury asks for patience during this process.
The City of Danbury has contracted with Equality Valuation Services, LLC based out of Waterbury, CT. We are currently in the process of converting the City's Assessment Data to a new software system.
For more information, please visit the Tax Assessors Office at www.assessor.danbury-ct.gov.
