![]() The page notes that there have been “significant fluctuations in property values” since the city’s 2017 revaluation. Single-family homes increased 25 percent, condominiums increased 14 percent, multi-family homes increased 36 percent, commercial properties increased 7 percent, industrial properties increased 23 percent and apartment buildings increased 26 percent, according to the city’s FAQ page. Some types of properties increased more in value than others. “If your value went up less than 18 percent, they may decrease - it depends on how much less than 18 percent and on how much taxes increase otherwise due to the budget for next year.” “If your value went up more than 18 percent, your taxes will increase,” according to the FAQ page. Property owners can estimate how the revaluation will affect their taxes by using the 18 percent figure as a guidepost. Overall, the total value of the city’s taxable properties - the grand list - increased a projected 18 percent from 2021, according to a frequently-asked-questions page posted to the city’s website. Stamford’s 2017 revaluation didn’t include physical inspections. The most recent revaluation entailed physical inspections of properties and an analysis of sales data as well as income and expense data for commercial properties. And it also captures all new construction.” “It’s to ensure that everyone pays fair and equitable taxes,” he said about the revaluation. The Fairfield-based company has worked with the city twice before, Stackpole said. ![]() The city hired Municipal Valuation Services to help conduct a revaluation of Stamford’s more than 30,000 real estate parcels for 2022. State law mandates that cities and towns complete a revaluation every five years. ![]() May 25: The Board of Finance must set tax rates by this date. March 8: Mayor Caroline Simmons’ proposed budget is due. If an owner disagrees with the board’s decision, they can appeal to state Superior Court. March: The Board of Assessment Appeals holds hearings. 13: Municipal Valuation Services holds informal hearings with owners who question the estimated market value of their properties.įebruary 17: Applications to Stamford’s Board of Assessment Appeals need to be postmarked or hand delivered by this date. June 2021: Property owners receive a notice along with their tax bills saying that Municipal Valuation Services would soon begin inspecting commercial and residential properties across the city.Īugust 2021 to October 2022: The data collection portion of the revaluation happens.ĭecember 2022: Owners receive notices in the mail about their assessment, which is 70 percent of their property’s estimated fair market value.ĭec. May/June 2021: The Board of Finance and Board of Representatives approve a $910,000 contract for Municipal Valuation Services to work with the city on its revaluation. Stamford 2022 revaluation timeline and process Stamford Tax Assessor Greg Stackpole said he expects that about 1,000 informal hearings will be held. Property owners can schedule an appointment online, but if they have more than two parcels they want to discuss, they should call 20. The hearings are by appointment only, and the company has asked owners to book before Jan. Municipal Valuation Services is holding informal hearings with property owners at Stamford Government Center through Jan.
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