The assessing office maintains an extensive database of all properties in Town. That data was recently verified by individual property inspections and was completed September 1999. Verification will continue with our full-time staff. All the changes as a result of the inspections are reflected in the new assessed value. Building permit data is reviewed on an on-going basis.
Market data is critical because it is the foundation for all valuation methodologies.
Therefore, all sale properties are inspected annually and market conditions are reviewed. Many factors affect the value of property not just the size of the house, but also the size of the lot, style of house, quality of construction, condition, story height, location, traffic, number of bathrooms, number of fireplaces, rooms in the basement, outbuildings, pools and garages. Properties are appraised based on what comparable properties are selling for in the community. It sets a limit on the tax levy for the Town as a whole. While there is a limit to the overall increase in property taxes, the revaluation program may result in increases or decrease in property taxes.