2023 Revaluation

2023 Revaluation

12/19/2023

To obtain your new property record card, please visit Equality's website here: Watertown.equalitycama.com

To request informal hearings online, please visit Equality's website here: Watertown.equalitycama.com

To contact them by phone the number is 860-483-8887

11/22/2023 Revaluation Update

Property owners will be notified mid. December and informal hearings will take place in late December.

10/27/2023 Revaluation Update

All property owners will be notified by mail in November

2023 of their new assessment. Informal hearing instructions will be included in this mailing.

Informal hearings will be held in December 2023 with the

Revaluation Company.

Final notices will be mailed in January 2024 for any

assessments that have changed due to an informal hearing.

BELOW ARE SOME COMMON QUESTIONS AND ANSWERS

YOU MAY ASK REGARDING REVALUATION:

Q: WHAT IS FAIR MARKET VALUE?

Market value is the most probable price in terms of money

which a property would sell for in a competitive and open

market under all conditions requisite to a fair sale.

Conditions of a fair sale:

1. Buyer and Seller are typically motivated
2. Both parties are well informed and are acting in their best interest(s)
3. Reasonable time is allowed for exposure in the open market
4. Payment is made in cash or its equivalent
5. The price is unaffected by financing amounts or sales concessions

Q: WHEN WILL MY NEW ASSESSMENT BE IN EFFECT?

Starting with the October 1, 2023 Grand List. These

assessments will be used to calculate taxes due in July 2024

with a new mill rate to be determined in approximately May

2024.

Q: WHO DETERMINES THE VALUE OF MY PROPERTY?

People determine the Market Value. Activity in the real

estate market and the economy are also factors. It is the

revaluation appraiser’s and the Assessor’s job to research

and discover values. A single property sales transaction,

however, would not be the sole determination of your

property's value. The value of your property is determined

by an analysis of the entire market. All the sales in a

specified period of time, usually one to two years before the

revaluation date are what determines the value of your

property.

Q: WILL ALL PROPERTY VALUES CHANGE?

Most likely, yes. However, not all property values will

change at the same rate. Market value may have

increased/decreased more for some property types than for

others. One purpose of a revaluation is to make sure that

the assessed values reflect the changes that have occurred

in the real estate market since the previous revaluation

9/25/2023 Revaluation Update

Two gentlemen from eQuality, our revaluation company, will be out doing permit inspections.
*Eric will be doing residential building permits and driving a black Dodge Journey.
*Robert will also be doing residential building permits and driving a silver Hyundai Sonata.

9/5/2023 Revaluation Update

Sales verification forms were sent out to new owners after the date of October 1, 2022. Please fill out and mail it back to our revaluation company, eQquality Valuation Services LLC.

5/26/2023 Revaluation Update

Data Mailers are currently being sent to residential and condominium owners.

The preferred option is to submit your data mailer online using the Identification Code. If submitting online, please do not mail back the paper copy.

The Secondary option is to complete the reverse side of the form and where necessary, make any corrections by drawing a line through that item and either print or circle the correct information, then sign and date where indicated. Mail it back using the enclosed envelope. Please use

colored ink

A response to this mailing, with or without changes, is required within 10 business days of the receipt of the letter. If there is no response to the letter, the information on file for this property will be used for valuation purposes*.

*The property may still require an interior inspection based on the changes noted on the back of the letter; when the property was last inspected; if this property was recently sold; if it has an open building permit; or by random selection for quality control purposes. eQuality will contact you if necessary.

Respectfully,
Faith S Richmond, Assessor
Ccma / Rcr / Res

Watertown is scheduled for a town-wide revaluation for October 1, 2023, Grand List, and has contracted with eQuality Valuation Services from Waterbury, CT to assist in the process. Data mailers will be sent to all residential and commercial properties which will list details such as the style of the house, room count, and special features. The participation of owners is critical in this phase of the process and we ask that you review the data, make any changes that may need to be addressed, and file the form online or return the completed form. Our goal is to ensure that the data is correct so accurate values can be applied to all properties.

At this time, individuals from the revaluation company, eQuality Valuation Services LLC, doing inspections for such things as callbacks, building permits issued through the Building Department, Data mailers, or properties listed for sale with discrepancies from the Assessor property cards.

Vehicle information for these individuals has been provided to the Police Department and The Assessor’s office. All inspectors will have an ID badge and letters from the Assessor confirming their identity.

Revaluation Schedule

Data Collection – April 2023 – September 2023

Informal Hearings with Revaluation Company – To be announced.

Board of Assessment Appeals – To be announced.

Mill Rate Set – To be announced.

Tax Bills – July 1, 2024

With Regards,

Faith S. Richmond
Assessor, Town of Watertown

3/29/2023 (date published)