Connecticut’s system of ad valorem property taxation is empowered by State Statute and administered by the individual municipalities. State law requires real estate to be assessed at 70% of market value. The market value established on the date of revaluation remains unchanged unless there are physical, legal or regulatory changes to the real estate, which affect the value.
Each year on October 1st, the Assessor is required to publish the grand list. The grand list is the total value of real and personal taxable property in the municipality. Each year, a person or entity may appeal their assessment to a municipal board of assessment appeals (appeals board). Appeals must be filed in writing by February 20th. The appeals board must hold a hearing on any appeal, except those over $1,000,000 for commercial, industrial, utility or apartment property. If the appeals board opts to conduct a hearing on an appeal, the board must notify the appellant by March 1st. In all other cases, the appeals board must notify the appellant by March 1st with a scheduled hearing date; and the appeal board must notify the appellant within one week after a final determination is made by the board. There are provisions for extensions and this process is fully described in CGS 12-111. Within two months of receipt to the appeal board decision, an appellant may appeal for relief to the Superior Court in the district in which the municipality is located. The judicial appeal process is outlined in CGS-117a. If an appellant has the assessment reduced by the court he is entitled to reimbursement by the town of overpayment of taxes, interest thereon and any other costs awarded by the Court.
Sheehy Associates is prepared to provide counseling and/or appraisal services in the course of an assessment appeal. Whether it commercial, industrial, complex residential or special purpose property, we can provide you and your legal team the information you require to achieve an equitable resolution.