A revaluation is done every five years to establish a current market value of property. The Town uses 70% of that valuation to establish the assessed value the property. The assessed value of all taxable properties, or the Grand List, is used in the calculation of the Town’s mil rate and it determines the equitable amount of tax that needs to be billed in support of the approved Town budget for FY 2019-20. At this time, MuniVal is nearing completion of the revaluation of all real estate within the Town.
MuniVal will hold an informational session open to the public on Thursday, December 13, 2018 at 7:00 PM in Town Hall, 77 Main Street, New Canaan, in the Town Meeting Room to explain the valuation process.
The effective date of the New Canaan revaluation is October 1, 2018. All property owners will receive an individual notice indicating their new assessment. The new assessment notices will be mailed out by the revaluation company early in December 2018. The assessment will represent 70% of the established new property value.
At that time, you will be instructed to review the changes, if any. If you are not satisfied with the outcome from your meeting with the revaluation company, you can file an appeal with the Town’s Board of Assessment Appeals. The time to file and how to file an appeal will be on the notice.
Please do not call the Assessor’s office with questions related to the new assessment you receive or to schedule an appointment. You must call MuniVal, the revaluation company, to schedule an appointment to meet with them to discuss your proposed new assessment.
For questions please call MuniVal at 203-292-5500 or email them at newcanaanreval@munival.com.