The Waterbury Democrat. [volume] (Waterbury, Conn.) 1917-1946, 1946-02-05


sons consult with them to the end
that justice may be done the tax
payer and the city Your commits
tee listened to many individual
claims and IL Is convinced that
there IS substantial basis for the
claim that q great many taxpayers
have had their property listed Tar
beyond their present true ana
actual valuation"
The committee Is gTatlfled to
know that Mr.. Koran and Mr..
jerks are willing to cooperate to
the end that these errors may be
corrected with the least delay.
The committee recommends that
Al persons who feel aggrieved
should consult with Mr.. jerks and
Mr.. Koran personally, state their
problem and indicate wherein the
property is over assessed. The
committee is hoping that In o great
many OF these cases appeals Will
be avoided by fair adjustments
being made by the tax assessor.
hAA8tVAJ NANSH
It may be Of interest to give q
brief history of the methods
adopted in the past for valuing
property for purposes OF taxation.
For this purpose we quote from
Connecticut Savings Bank '. New
Haven, i3l Conn, 58l, as follows:
1.-THE rules for the determina-
ton Of the amount for which
property should be assessed have
q very considerable legislative
history. The present method Of
basing taxation upon the valua-
ton Of property by assessors
originated In Chapter 2 OF the
Public Acts passed at the May
session, 1919. According to the
statute in force in 1891, dwelling
houses were to be set In the list
valued at the rate which each
separate dwelling house ana
lot are worth IN money, and
with due regard to the situation,
use and income thereof Section
z provides that dwelling houses
shall be valued and assessed
according to the present true
and Just value thereof
Section 8 defines this as fol-
lows: The present true and just
value Of any estate, either real
or personal, liable to be assessed
BIZ virtue Of the provisions Of
this Act, shall be deemed and
taken by the assessors and board
of relief of the several towns, TO
be the fair, market value there
Of, being the price which could
be obtained therefor at private
sale, and not its value at
a forced or auction sale Cen
eral Statutes. Rev. 1875, p. l55,
section Is, provides that dwelling
houses are TO be set in the list
at their present true and actual
valuation This was defined by
section II Up. 1867 as follows;
The present true and just value
, of any estate shall be deemed
by all assessors and boards o.
! relief TO be the fair, marke'
value thereof, and not its valu'
. at a forced or auction SALE
The present Law, General Stat
, utes, Sections i143, ll49, makes
no change in the first sentence
but the second is made to con-
form thereto and the comma aftel
fair" Is omitted, so that 1t reads
The present true and actual VaIu'
, of any estate shall be deemed By
all assessors and boards Of relic!
|, to be the fair market value there
, of. and not its value at a torcec
auction SALE If these omissions
: and changes have any signi'
! ficance, they tend to emphasize
the Importance of the common
phrase Fair market value" as TN
, criterion. The reference to pri'
7 vate sale, which might indicate
, single transaction, is omitted.
!; Read together, these sections
! mean that the basis Of valuation
, of real estate for taxation pur'
!. poses is the present true anS
, actual valuation; Section ll4S
! and, in arriving at that valua
! ton, the ordinary basis Is VIVA
the property would bring in
fair market; not what 1t woul'
bring at a forced sale.
" The expressions actual value
market value, or market price
when applied TO any article
mean the same thing. They NEAR
The price or value of the articl
established or shown BY SAFE
public or private in the way 0
ordinary business"
Although fair market value
usually determined by sale
value. the price at forced sal
: Is not TO be considered and con
yersely. II would seem, neithe
should the price paid for
\ forced purchase be the criterio!
, In other words, the Assessor, y
our Judgment, should adopt VIVA
n has become known as rule 0
reason"
Mr.. Koran and his associat
claim to have used the test her
in described to ascertain the "
and actual value and fair marx
value Of the subject properties;
other words they claim 10 ma
followed the statute literally.
The Board Of Aldermen is DO
OF limited jurisdiction. It has
power except such as IS given
Il by the Charter. Consequently
report that there Is nothing uno
the present conditions that I
Board OF Aldermen can DO
either reduce the tax rate or !
grand list. ,..
IN conclusion your Commit!
feel that matters must be allow
10 proceed along the lines "a
down by the Law, but express !
hope that many adjustments v
be made to bring into line q me
EQUITABLE scale Of taxation.
urge that this policy be particula
ly applied TO the small home owl
as ne Is not alone one OF the M
numerous class, but the backbone
our society.