Orange Revaluation FAQ
The Town of Orange is mandated by the State of Connecticut to perform a revaluation as of October 1, 2017, This state mandated revaluation is an interim revaluation where interior inspections are not required, The firm of J.F. Ryan & Associates Inc, has been retained by the Town of Orange to assist in this project. The State requires all towns and cities to revalue all real property every five years.
FREQUENTLY ASKED QUESTIONS
WHAT IS REVALUATION?
A revaluation is the process of determining market values for real property in Town. Values are derived by performing all of the necessary market analysis and valuation steps to determine accurate and equitable estimates for all properties within a municipality. The equalization of the values within the Town of Orange creates a fair distribution of the tax burden.
THE PURPOSE OF A REVALUATION
The main purpose of a revaluation is to correct inequalities in the tax base that have developed since the last revaluation in 2012. Revaluation is a revenue neutral process.
HOW DOES REVALUATION EQUALIZE THE TAX BURDEN?
Since property taxes are based upon value, it is important to have all property valued periodically on a uniform basis, using a modern system of valuation. Property values change with time. Some values go up, some go down and others remain static. Assessments must be updated or inequities in tax base will result.
WHY IS A REVALUATION REQUIRED?
Connecticut State Statute §12-62(b) requires that a revaluation be done at least once every five years in all municipalities. The last revaluation in Orange was completed October 1, 2012.
WHO IS RESPONSIBLE FOR THE REVALUATION?
The Town of Orange is responsible for the revaluation.
WHAT WILL HAPPEN DURING THE REVALUATION?
There are six major phases to a revaluation: Verify Data , Market Analysis, Valuation, Field Review, Notices, Informal Hearings. Data mailers were sent to every homeowner in Orange. These data mailer described various characteristics of the property. The owner was requested to correct any inaccuracies and notify the Assessor's Office. A representative from J.F. Ryan & Associates Inc. has also canvassed the Town updating exterior property characteristic and checking open building permits. Sales from 2015 through 2017 were verified and analyzed. A computer model was constructed, specified and calibrated from the analysis of valid sales. This computer model then generates the new estimates of market value that must be verified in the Field Review. Field Review is the method of checking and re-checking the new computer generated estimates of market values. During this review, properties are viewed by an experienced appraiser who double-check uniformity and accuracy of information.
Once all values have been verified in the Field Review, notices will be mailed to all owners of real property commencing in mid November of 2017 and ending in early December 2017. Informal hearings will follow for those property owners who wish to discuss their new assessments.
DEFINITION OF 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 or undue stimulus
WHAT SALES DID YOU COMPARE TO MY HOME TO ARRIVE AT ITS VALUE?
The value of your property is based on an analysis of the real estate market for a specified period of time.
WHAT RESOURCES ARE AVAILABLE TO HELP ME DETERMINE THE VALUE OF MY HOME?
There will be listings of all valid sales in the Assessor’s Office for the 3 years prior to the revaluation.
HOW CAN A HOMEOWNER COMPARE HOW OTHER PROPERTIES HAVE BEEN VALUED?
A listing of all Orange property assessments will be posted in the Town Hall Assessor's Office by mid November 2017. An additional listing will provide the new estimated market value for each property in Town.
IF PROPERTY OWNERS DISAGREE WITH OR HAVE QUESTIONS ABOUT THEIR ASSESSMENT, WHAT ARE THEIR OPTIONS?
If any property owner disagrees with or has questions regarding their assessment, they should schedule an informal hearing. Instructions on how to schedule an informal hearing will be included in your assessment notice.
WHAT IS AN INFORMAL HEARING?
An informal hearing is a forum meant to answer questions on the new property valuation. This is not a forum to discuss taxes. If you feel you are being unfairly assessed, please come prepared with documentation regarding specific issues with your new assessment. Appraisers will take notes as to the property owners concerns and specifics regarding their property. Each property that had an informal hearing will then be reviewed on an individual basis to determine if there is a change of value warranted. Homeowners will be notified of the results of their informal hearing no later than February 1, 2018.
IF AFTER AN INFORMAL HEARING, THE PROPERTY OWNER STILL DISAGREES WITH THE ASSESSMENT, WHAT IS THE NEXT STEP?
If, after an informal hearing, the property owner still disagrees with the property assessment, the property owner may then petition before the Board of Assessment Appeals. Applications will be available starting February 2 , 2018 in the Assessor's Office or online All applications are due to the Assessor's Office no later than March 20, 2018 (postmarks by the 20th are accepted).
WHO IS THE BOARD OF ASSESSMENT APPEALS?
The Board of Assessment Appeals is an quasi- judicial agency. It is designed to serve as an appeal body for taxpayers who believe that the town erred in the valuation of their property.
WHAT ARE THE POWERS OF THE BOARD OF ASSESSMENT APPEALS?
The Board has eight distinctive powers, which they may exercise at their own discretion.
1. Administer oaths in cases coming before them (§I-24 and §I-25).
2. Correct clerical omissions or mistakes in the assessment of taxes (§12-60).
3. Add to the assessment lists the names of people who own taxable property in the town, but have been omitted from the lists (§12-111).
4. Increase the number, quantity or amount of property in any person’s list (§12-111).
5. Reduce the list of any person appearing before the Board by decreasing the valuation, quantity or amount of any item (§12-113).
6. Make a supplemental list of any taxable property omitted by the assessor (§12-115).
7. Shall add 25 percent to the value of any additions (§12-111) or supplemental lists or personal property (§S12-115) as a penalty.
8. Elect not to conduct appeal hearing for any commercial, industrial, utility or apartment properties with assessment greater than $1,000,000 (§12-111).
HOW WILL I BE NOTIFIED OF MY BOARD OF ASSESSMENT APPEALS APPOINTMENT?
Each aggrieved property owner who timely files a petition with the Board of Assessment Appeals will be notified in writing of the date, time and location of their hearing by the April 1st, 2018 deadline.
WHAT SHOULD PROPERTY OWNERS BRING TO THE BOARD OF ASSESSMENT APPEALS?
Your appeal must be based on the market value of the property as of October 1, 2017, the date of the Town’s revaluation. Please come prepared to explain why you believe the market value of your property, as determined by the revaluation is incorrect. The hearing is not a forum to discuss the Town budget or taxes.
HOW WILL I KNOW THE RESULTS OF MY HEARING WITH THE BOARD OF ASSESSMENT APPEALS?
The Board shall determine all such appeals and send written notification of the final determination of such appeals to each property owner within one week after such determination has been made.
WHAT IS THE NEXT STEP AFTER A BOARD OF ASSESSMENT APPEAL IF A PROPERTY OWNER STILL DISAGREES WITH THE PROPERTY VALUE?
If a property owner disagrees with the decision of the Board of Assessment Appeals, he/she must make an application to the clerk of the New Britain Superior Court within two months of the Board of Assessment Appeals’ decision letter.