LEGISLATIVE AFFAIRS MEETING GRAND LIST, ASSESSMENT, REVALUATION and TAXES Nev er 10, 2010 1 Property hx Brief Assessment an the Grind List ariford's Past Revaluations & Legisation © Past bsforts "+1978 Diferentiat (Public Act 38-339) #1989 Residents] Cay Croat aad Commorstal Surcharge (Cona, Statute §12-623) © Current Method +2006 Residential & Apartment ax Rati Residential Tax Cap of 5% (Conn, Statute §12-62) 4 Phase-Out ofthe Surcharge (Conn, Statute 12-62 ‘© Phase-In of the Revaluation (Conn, Statute §12-626) +2009 6 2010 Grand List Totals © Taxable + Real Property + Personal Praperty = Motor Vehicles 2 Fxomnt © Taxes by Land Use Groups ©. Tas Comparison with other Connection TownsiCities +2011 Revaluation © SchedulefPlanning © Data Mailerstaspectons (© Estimates of Marker Value (© stints of Tax Shits 4 Current Legislation October 1, 2011 Revaluation ©) Surcharge, Credits & Different Assessment Ratios ‘Nene of these exist without New Lepislation Where Do We Go From Here 1S New Legislation © Revaluation ~ Delay or Not © Revaluation Phasc-In ~ Yes orNo © Residential Tas Relief © Momestead Exemption {© Small Busines Tax Ret ©. PILOT Payments for No © Chassiffeatan Differential © Other raxabte Property + Key Dates ‘2 "October 1, 2011. Revalvation Btfetive Dace (© danary 31,2012 Sign the Grand List (© May- fame 2012 City Hvelget Preparation using 21 © duly 1,2012 Tas Bll Reflects the New Assessments RevalProperty Tax Brief Cities and Towns: Connecticut is divided into 169 contiguous towins and cities; those are the ‘major units of local government in the state. The entire area of Connecticut is included within the boundaries of these towns and cities. Towns and cities provide various services (@.9., public school education, police and fire protection, public road maintenance, and ele.) lo their taxpayers. To a large extent, these services are financed by the property tax. Lesser taxing districts exist in some tow 19 and cities. Alesser taxing district (such 2s a borough, a fie district or a sewer distct) provides services to taxpayers thal are not provided by the town or cily in which the district is located, Powers of cities and towns: The state's towns and cities have no powers excopl those conferred upon them by Connecticut’ legislative branch of goverment. The general scope of these powers, including the autharty 1o assess properly and levy taxes, is set forth in §7-148 of the Conneticut General Statutes (CS). Lesser taxing districts are empowered to tax property, but the assessors of the towns or cities in which these districts are located determine the property assessments on which such taxes are based, Assessment: Property is assessed in each town or city as of the October 1 assessment date, pursuant to CGS §12-62a. Taxable proporty includes real estate, motor vehicles, personal properly owned by business enterpris 18 and certain personal property owned by residents {such as horses and unregistered snowmobiles or motor vehicles). All property is assessed at 70% ofits value, pursuant to CBS §12-63, State lay requites different basis for such values, reflecting the distinct natures of the type of property being appraised. There aro also statutory differences in the frequency with whieh proporty valuations are establishes, The Grand List is a record ofall taxable and tax-exempt property in a taxing jurisdiction Regardiess of the basis of a proporly’s valuation or the time when itis updated, assessors: ‘must ensure that the Grand List contains information concerning all the property subject to taxation by their taxing jurisdictions, Assessors must also ensure that all property taxexemptions they have granted to eligbie individuals or business enterprises are reflected on lie Grand List, singe net assessments are used to calculate property tax bills Gonorally, the assessor of each town or city must complete the Grand List and file it with the town or city clerk hy the last day of January each year. The period of time prescribed by lav for the completion of the duties of assessors may be extended by a town's chief executive officer. “That oficial may also extend the deadline forthe completion ofthe duties of the Board of ‘Assessment Appeals, Appeals: As its name implies, the Board of Assessment Appeals is the body that hears and decides upon appeals related to assessment mallers. Assessment appeals must be fled in accordance with OGS §12-111. Once the Board of Assessment Appeals adjudicates the assesement appeals brought before il, the laxing jurisdiction's property tax rate is determined. ‘The property tax rate is calculated afterall other anticipated revenue (e.g, federal or state ‘rants and receipts from licenses and fees) has been deducted from # taxing jurisdiction's total projected budget expenditure for the upcoming fiscal year. The propery tax rale is the rate thal, when mulliphod by tne assessed value ofall taxable property in the jurisdiction, wi produoe the additional revenue ode to balance its budgel In Connecticut, the property tax rale is expressed in mills, or thousandths of a doll. A tex rae of 58 mils, for example, is equivalent to the payment of $58.00 for each $1,000 of a taxable property's assessed value, Property taxes are calculated by multiplying a property's net aesessrrent hy the property tax rate Addltional information concerning the assessment and taxation of property is avaliable fram tha Handbook for Connecticut Assessors (updated in November, annually), @ publication that is ssn the state. available in some public Ibrar Jn addition, the sections of the Connecticut General Slatules mentioned above, as well as others affecting property assessment and taxation, are available on the Intemet and may be accessed or downloaded via the following address:Sec, 12-62, Revaluation of real estate, Regulations. (6) As used in this chapter (1) "Assessor? means the person responsible for establishing property asessrent fr purposes ofa owas rand lst and noludes aboard of assessor: (2) "Feld review” means the process hy whieh an assesny member ofan assess tao peson esignatod by an asessor examines cac parce fel yop ia ts acighborhond setting, compares ohservaie ‘tributes fo those listed n such parcel’ corresponding property secor, makes any nocessar corrections based en Such observation and verifies hat se parcel trbtes ae accounted To in the valalion being develapel ora revaluation; (6) "Pull ispection” or lly inspect moons to miasure or verily the exterior dimensions ofa building ot sraoirs nd to eer and examine te ineror of seh bling cr srctue ip oer i ebserve and recon or verify the chareteristes and coudtions thereat, provided peemisson to enter suc interior is granted by the property ‘owner oF en aca o2eupan ction 12-64 (4) "Rea propeny me she propery deseribe in (5) "Revaluation" or *revalue" means to establish he preset tue and stu valu ofall real property in 2 town sof specific assessment (6) “Secretary” means the Secretary ofthe G fice of Policy and Manager sent of sti ssortary’'s designe; and (7) “Torn” means any town, consolidated town and ety or consnlideted town and eroush (6.0) Commencing Oetobse 1, 2006, each town shal implementa revalustion not ater than he fst day of ‘cts: that fla, by Hive years the Ost fst assesses date on Which the tains pesious realtion Ihocame elfestve, provided, a tose that opted to defers revalatsn, pont to section 12-62, shall implement a revelation ot ter than the firs ay of Oster that follows, by five years, the Octobe ist assesment dt 0 ‘nich the town's deferred revaluation became eflostive, The mn shall use aseasnents derived trom each sch revaluation forte purpose of levying property txes for the assessment year in whch sock revaluation is effective tiv! fr each asessinent year tha follows uatil the ensuing revalation becomes effective (2) When coniveting a rvalustion, a assessor shall se generally seeepred mass apps methods which may include, bal aed not he Fit to, the market sales comparison appz 4 vali, the cas apoash ovale sd the ineonte appro to sl, Prior the competion af each revaluation, the assessor shall cams a il review [Except in a town tha as a single assessor, Une aeubers of te ber of asics sll approvs, by zajoiy vate, sll valuations established foes revlustion {G) Anassessor, member ef an assessor's sa or person designate by an assessor may, et ay tne, flly inspost any pares of improve sal property in arr to asesain a verify the cccuracy of ata ised on the sssesors property reco for sah pares. Except a provided in subst 4) ofthis subsection, the assesor Shall lly inspect each such pareel one in every’ ten assessment years, provided ifthe fll inspection of any such pel curred in an assessment year preceding that commencing October 1, 1996, the assessor shal Tall nspest Such parce at te ha the Fst day oF Oster oF 2008, asl erste Fly spss such pace in sccordanve with this section, Nothing i this sibsecton shall equiv he assessor to ally spect all oF a owns Jmproved real propery peel inthe same assessment esr aa nn ease shal ay assessor Be roid a lly inspect any such parel more than once during every len assssiten! yeas (An assessor may, at any time during the period ia which a fll inspection ofeach improved parcel of rel propery is requted, son a quostioataze to the owner of sush parcel to (A) obtain infermation eoneering the propery’s sequin, a (8) ebiain verification athe aeuresy of dat sted an the sess’ oper econ Rosuch pars An assess sal develop and instiute a quality assurance program wit respost a responses rea touch questioneaies sa'sfied with the ess of sad program concerne sich questions, the assessor ray fully inspect only those parel af npr eal popes for which stsfctry verification of dat sed it themssessors property recon! havnt been atin and i othervise naval, The fl nspsetion requirement in subaviior (of this subsection shall no ply to any prec af anproved real prope for which the ssessoe ‘bins saison verification of data fisted em the assessors proper econ (6) "The flowing shall be availble for public inspection in the assessor's oc, in the manne provi for acceso public rsords in subsection (a) of section 1-210, not ater than he date writen notes of Fal properly valstion! ae mailed in accordance with subsection) of this sections (1) Any evra, guidaline, price scales for statement of procedures used in such revaluation by the assessor oe by any revaluation company the the ses ‘designates vo perform mss epprasal or fel review futons, al ef which shall eotinus to be avilable for public inspection uti he town's next revaluation becomes effective; and (2). eumplation of al eal prety ses in ach neiphborhow forthe velve rons prosodiag the date dn which eack evalation is efletv the selling prises of which are represatative ofthe fir warkel values ofthe prapetes soll, which compilation shall eoninse © be availabe “or pubis inspection fora pied of not ls tha twelve months inet fll a ‘evalatons active dave, Nothing in hk uisection shall e eonsved te penn the assessor ta post a plano {twig ofa doeling vit ofa resdential propery’ neror onthe interetor to otherwise publish suc plan or aeuing, (3) 1) Tae eet executive officer ofa town shall noisy the Seer ote Oflige of Policy and Mansgemtont that the town is effecting «revaluation by sending a writen notice othe secretary aot inte han hry days ater te dat on Which such town's assessor signs a grand lst that reflects assessments of eal popes derived fs evalatcn, Any towa tha fl to effects revluation forthe assesment dae regi ths section shal be subject 1. pent elfstve fr the fiscal yee commencing on the ist day of July fullswing such assessment dat, an continuing fr each sucessve seal year in wih the town fills levy taxes onthe basso sch ‘valuation, prided the seoriay shall not ipose sich penalty wih respect ta ay esses year in wih the provisions of subsection (of sotion 12-117 are applica, Ssh penly shal be the forfeit of the nun ‘hers allocable to such lown pursuant to section 7-536, ae ths ws cP iy per een of the ariount of the grunt thats payable to such town purse to sections 385i, 3-88) an 8-85k, Upon imposing said penalty, the seereary shall noi the chet executive officer ofthe aout of ta town’s forletuze for sai fiscal yet an! that he scorer’ ceritiation othe State Compoller forthe paymiets ofeach gratin said yea shall oflect the requied reduction (©) When conducting a revaluation, an assessor may desigate a revaluation company certified in sceidance with section 12-2b to perform yopety data elletion, analysis of such dala and any mass appraisal ‘alton field review funetions, patent to eho or methods th assessor approves, and way require suck ‘pny o pepe sa wal the vali raise required by subsaction (Ff ths section, proved nothing in {his sutsction shall lieve any assessor of anyother eqrement relating to sich revatetion imposed by any [provision ofthe geteral statutes, any public or special el the provisions of acy smniipal charter tal er nt Inconsistent with the regeremenis of hi set ay epulations slope para a sbscstion (go hs (9 Not eae than the assessment date thet isthe effetve date ofa revahiaton an not later than the eh calendar day inmesditeyfellowing the date en whic the sran list fr said assessment dat is signed, te assessor shal! mail a writen notice tothe las-Snown address of the owner ofeach parcel of real propery that was evalu, Such nosive shal include the valuation of sush parcel sof sald assessment date and the vation ef such paral i fhe List poveding assesinent yar, and sal provide information describing the propery osene’ rights to appeal ‘he vali established for sad assessment date, inhuding the manner in which an appa mse Fld with the ‘bot of assessment apps,Hartford's Tax Differential Jn 1978 the City of Hartford cornpleted thei first citywide revaluation in 17 years. To soften the impact on the residential property, a plan was devised where the percensage of property taxes paid by residential property owners, a8 a clas, prior to the revaluation would be the same after the revaluation. The plan was calles Hariord’s Tax Differential What might be thought of as unthinkable to most propensnts of fair and equitable treatment of the propeity tax during @ revaluation, has some practical application to those who are dealing wilh an untenable situation. John McDermott, Hartlowd's Assessor 1974-1978 and 1979-1985 was the Assessor who was involved in the pltnning, administering and Gke phasing ot of the ‘ax Differential and provides the following background “cause Harifond had not revalued its property since 1961, there was a tremendous amoust of assessment inequity within the residential class of property’ (atthe time, 1-3 family dwellings) (Of paricular eoncern to me was the major inequity of zesideatial property fram neiehborhook t9 neighborhood, In fac, it was so bad thet when I came to Hartford there was u Great ofa class on Kavsuit, to balance the over assessment of the North End compared with the under sssessments of both the South End and the West Bnd (these are stil established neighborhoods within Hartord). While there wore slso inequities in the commercial setor, i eame so where close tothe residential dilemina.” “In 1978, Martfoed was required (© perform a revaluation. Because of the faw suit threat and factors, there was no appetite either locally or atthe legislature for another extension, Yel, ifthe revaluation were to be implemented under normal bass, there would have been residential tas. increases of well aver 80%. Tn my discussions with and ulate agreement with the politica (locally an atthe lepislaue), 1 was insistent tha the above assessment inequities be cured through the nermal revaluation process. To aecomplish this, we came up with the ‘arforé Differential” in which the residential class, as @ whole, woul nat pay a greater peroentage share of the net tax levy the year affer revaluation es they aig the year before revaluation. This percentage was 14.7%, tke percentage approach was important because the residential sector fi.e. voters) would also pay the same 14.7 % of any yeatly buniget increase (Editorial note: The essessed valu of all residential property inthe City of Hartford at thal time constituted less than 20% of the assessed value of all property on the Grand Ist), tis also important to note that we did nov expwet any substantial residential growth in the neat fine. As you can imagine, took many neighborkood meetings to explain the inequity problems and to Solicit acceptance of the resulting shifting of residential tax bunéen liom acighborkood 19 neighborhood" The statutory authority that allowed Hartford to implemest the Differential plan exe with the passage of three public sets that covered a period of October 1978, the date of the revaluatin, 0 October 1, 1986, when all property in Hartford was assessed st 70% of October 1, 1978 values ‘The Original Differential law, Public Act 78339, covered the period From October 1, 1978 to October 1, 1979. The Extended Difleremil period, Publis Act 80321, cavered the perio from October 1, 1980 to October 1, 1981. The final public ct that phased ou! the Differential plan was Public Aci 83-465, which covered October 1, 1982 ha October 1, 1986,‘As was stated abawe, the original Difterentin! peri ratios were established based! ape the tax levy that residential property owners paid prior to the revaluation for 1978 and 1979. The inn residential ratios were based oa statutory formulas spelled out inthe public acts. The jal assessment ratios, during the Differential period in the City of Harford were as follows: ‘© Original Differential period: 1978 = 45.8% ‘* Extended Differential period: 1980~ 47.1%, 1981 - 45.6% {© Phase owt Differential pared: 1982 ~ 50%, 1983 ~ 5895, 1984 ~ 60%, LORS ~ 65% All property essessed at 70 1986 Grand List, 1979 =47.2% of fir matkel value on Although not everyone in Hartford was pleased with the Differential plan, especialy the commercial, industial owners and the Greater Htiond Chamber of Commeres, 2 review of some ofthe facts is worth exansining. ‘© “The City of Hafond's residential paper Grand Lis 15 The fat that the City of Hefoed fad not done @ revaluation ia 17 yours would have freated! a massive tox shift to dha small residential sector, if 1 were nok for the Differential plan ‘© The Ditierental plan softened the impact on the residential sector and allowed some time far government officials to gradslly phase in their ax harden. = Ina an sltemative ta delaying the revaluation, as some pubic officials wanted. © limade the best resolution oat of a very complex problem, ya hat time, represented Tess than 20% of he MeDermnt asso lade Lawence Laban, cute Assessor of Has slace 2003, end Jab ond 133 T01B a 1979-18How Hartford set the Tax Rate. 1989 to 2005 State Statute §12-62d THE CAP. In the spying of 1989 prior fo the completion ofthe last revaluation aa the release of the 1989 Grand List, the City of Hartford lobbied far and was sueeessfil in obtaining & change to the Ste property a las. The ebange i the legislation allowed the 2 1.8% Cap on residential une, (a and three Family hontes and condominivn property. Levying a surcharge on all non-residential property funds the Cap, “The cap works as Fallows As The 100% market value of a residential property is multiplied by 1.5% and that produet isthe base propery tax thatthe homeowner must pay. In addition c that amour, the portion ofthe suresarge that would have ben apportioned to partinents i redistribute the residential property (Passhack}, Any overflow suri tha i above the 15% Jevied on all non-residential property i also reistibuted to the residential property Example: Market Valu of $70,000 ancl an Assessed Value of $49,000 $70,000 x 132% = $1,050 Base $849,000 x 001257 =$" 86 Apsrimem Passback $49,000 = 006776= 8332 Sintax above 15% S168 Total Tax 1.468 / $70,000» 2, Ye offective rte In traditional mill ate setting process, the assessed value of the $70,000 home is $549,000 aud is multiplied by the mil rae to determine the property tn Example: $70,000.x 20% ~ $49,000 x 049 (nil rte) = $2,401 ocause the residential property owner pays Uifference $2,401 - $1,168 = $933. ly $1,468, iis nocessary to make up the ‘That eifference is the amount af te eno forthe Cap. Menten Ott Subbu Page 1BB; The difference between the taxes or be paid 1.59% and the taxes that woul tbe Cap pool one, two, three family and conomyniums to we bees pai the ei nt mill ate becomes (Once the Cap pool is calculated in the firs year after the revaluation, the pool is frozen Nis not essleulated each year but remains the same with only tiny adjustments for properties that are under 8 deferral for rehabilitation and new dwelling construction, ‘This Fepresents a very small adjustment. There ae thre exceptions tothe 1.5% Cap. 1 Resicontial nits with mares vale over 250% af the mean residential market val (for the 1999 Grand List that is $195,300) aze taxed using a earsbination ofthe Cap find the sight mill rate. The 1.5% Is applied to the fist $195,300 of value andl the Ailferences calefated using the mill ate multipied by the assessed value Example: $300,008 houses $300,000 $195,300 $104,700) $104,700.70 $73,200 8.49 = $3,591.21 $195,300 x 021 = $4,101.30 Total taxes 57,692.51 ‘© Residential propertios under the 1.5% Cap with additions or improverents sdded after the Ostober Grand List are taxed at 1.5% of ther hase market value al the jinproverents see taned using th existing mill te ‘© New Construction (a new dwelling, not an adlifon is taxed using the Cap calculation. ‘THE SURCHARGE, ‘Whats lost in residential taxes (the Cap pool) by using the 1.5% eap is made up by & surcharge on non-residential properties, Motor Vehicle, Apartments aad Rocaning Houses are exenipt from the surcharge. The Cap pool, whieh had a value of $18.9 million ithe original year it was used, is spread out over al the non-residential taxpayers in the form of a pereestage surcharge. Pach yea the surcharge is recalculated ane between EY 91 and FY 99 the surcharge has Musuate betwen 12.16% in the Hist yest to 15.48% for the lus wo years. ‘The surcharge is limited by the iyi legislation to a maximum of 13%, If the resident Cap pool requires an aznount large than the surcherpe ean provide, that overage umount is levied om the residential property th Sa Fen Page?Sec. 12-621. °(See end of seetin for repeal information) Residential property tax relief for nicipaities with certain effective tax vate following revaluation: State program related fo revaluations effective in 1987 and 1988; municipal option program commencing in 198, {(@) Municipal option to adopt program in accordance with subsection () commencing October 1, 1989, Commencing October 1, 1989, any municipaliyy which meets the evitetia forth in this subscetioa may, upon approval of is legislative body, provide for residential propery treet in aecordanee withthe provisions af subscetion (A) ofthis section, Sock, propery tax roliemay he allowed if the munieipality His implemented in that your « revaluation ‘fal real propery as required in section 12-62 and the effective tax rate for residential propery, as determined in aevordance with the provisions ofthis section, isons and one-half percent of moze ofthe market value of residential property in such municipality. Effective ty rate, as used Sn this seeion, mun «raion which the numerstor shall be the total tex imposed on all residential real property inthe yoar of revaluation and the denominator of which salle the present true snd actual value of such property in such year, as detennind in accordance with section 12-63, Not late than thee dy following Binal action with respect to the adoption of rill rate for the yeur of revaluation the ei executive ofticer shall determine the effective tax tale us provided in this subsection and shall give notice of bis determination tothe Secretary of the Office of Poliey and Management, Within five business days of reveipt of such notice, sui scoretry shal issu «determination a o the validity of the effective tax rate so determined, IF the chief executive offer is aggrieved by the finding ofthe seeretary, he ma, within thirty days take application inthe nature of an appeal daereom to the superior cour ofthe judicial district in whieh the municipality is lose. Such vitation shall be signed hy the ehiel exceutive officer, seting on behalf of the moniipaly, and sueh appeal sill be reusable the sane ime and in the same manner as required in te case ofa summons ina civil action and shall be served! upon the secretary. Such upplicuion shall be a preieered ease, 19 he heard, unless eause appears 10 he contrary, atthe first session by the court or by a committee appointed by the eourt, Witkin twenty days ofthe seeretarys notice confining the validity ofthe effective tax rate determination, or within ten days ofa decisian ofthe eautt upholding the validity ofthe effective tax tute determination the chief executive officer shall submit tothe legislative body his recommendation eoncerniny residential property tas relief, sind the legislative body shall act ‘upon such resonimendation within tity ays. Whenever used inthis section, "municipality means any town, consolidated town and city or consolidsted town and borough, (8) Property tax surcharge in municipalities adopting program under: any municipality in which the lepslasve body’ provides for res Pusat to this seston, » property tax surcharge of no more dan the lesser of (J) fiflen per eent ff the propesty tx payable far the assessment year in which such elie is prante, er (2) the portion ofthe total tax credit whieh may be provided under subsection () ofthis Section allocable tothe surcharwed propect, shall be charged forall real and personal property subject to property tx imposed by such municipality classified, for pamposes of assessment, as commercial, industrial or public uilty, or a combination thoteaf, excepting (A) mits vehicles, (B) rauliple- dwelling sttactures whieh are more than fifty per eent residential in use and which eontsin more ‘thea three nits snd (C} lodging houses, provided the surcharge shall be ealetlated and surcharge against each inlviddal parcel o item of propery om a basis which inekiges multiple ddvelling structures whieh are more san flly per eent residential in wse and which contain more than dice units and loging houses as surcharged property. Such property’ tax surcharge shall be payable and collectibieas other property faves and subjeet to she saune liens ard processes of collection, provided such surchazge shall be due and payable not sooner than thirty days after the installment of the property tx forthe assessment year on whieh residential property tax eresare applied. ae amout of property tax surcharge made payable inthe year in whieh revaluation ‘hecomes effective in such municiplity shall remain uneanged in each of the four suecesing yes, Any new construction in such muieipalily which would buve been subject to the property tax surcharge payable under this sabsection if competed in the year in which sueh surcharge ist ‘becores effective shall he subject to such surcharge forthe year in whieh such structure is approved for use an in each ofthe sueceeting years in which such surcharge is applicable {6} Definition of residential property for purposes of program adopted under subsection {), Property wich shall be eligible fr tx relief under the provision of this section shall be dlefined as any single parce of residential property used exelusively for residential purpases, including a single-family residence and a maliple-dweling structure containing not mare than lhe units, used by the occupants as & place of permanent resdence. (a) Alternative plaas of pruperty (ax eredit which may be adopted based on amount \lerive from property tax surcharge. Amount of eredt per parcel in year effective remains inchanged for four succeeding years. The aniount derived fom the property fx surcharge allowed under subsection (b) ofthis section, in any municipality eligible to provide residential property lx elie uner the provisions ofthis ection, may be used for purposes of granting property tas eres to residential property’ eligible for such credits under subsection (€) of this scotion, in seconluce with either ofthe following altemative plans for such rete, as decid by the legislstive body of such municipality (1) A plan in whish the property tex credit applicable to each eligible parcel of residential property shall be determined as follows: "The credit for each eligible parcel of residemil property Shall be the umount derived frou the propoity tx sotcharge as provided hy subsection (b) ofthis section, divided hy the numberof such parcels 6" residential propety, excep cat the maximum ‘redit for each suc parcel shall nol exceed seven hundred fifty dollars. The amount of propety tax credit applicable to exch cligible parcel of resiestial property inthe yenr such plan becomes cffeotive sll remain unchanged in each of the four succeeding years of such plan (2) A plan in which the propecty tax ereit applicable to each eligible parcel of residential propety shal be determined as the amount by wich the property tas applicable ta suck parcel fof residential property exceeds one and one-bulf percent ofthe preset tue and actual Value of such property, as determined in seconde with section 12-68, provided no such property tex ‘ret for any eligible parce shal excood to unde fitty per cen: of mean property tax credit, ‘5 determined in accordance with ths subivision, ta the extent thst revenoe in aceoralance with subsection (b) ofthe setion will allow, The smaunt of property tax etelt applicable 1 each eligible percel of residential opery in the year such pla becomes effective shall remain ‘unchanged in each ofthe four succeeding yeurs of such plan nner subsection (2) may not adopt plan under section ished. Any monisipaity which has elected to aloe tax ‘credits with respect to certain residential property in secordance with subsection (a) 0 scetion (1) maay not adapt a plan tobe effective in the same assessment year under section 12+ ‘und (2) shall establish, for porposes ofthe plan of tx eredits adopted, a dedicated fond which shall be subject to annual budget procedures and he included as part ofthe annual audit of suet, ‘municipality(1) Property tax credits may mot be credited (o first installment ofthe fax, Not later than thirty days preceding the date on which any property tax eredits allowed in accordaace with this ction ae to be applied, the assessor shall ety tothe tax collector (1) alising ofall, properties eligible for sch property tex credit an (2) listing ofall properties against which & fificon per eent property tax suzcharge iso be earged. The tax collestar shal cause the applicable property tos eed or surcharge to be applied to the rae hill fo eas such parcel of property. Residential property tax eredits shall be credited rot earlier than the sovond installment fof the tex forthe assessment year in which such relies granted, and aot later han the lst installment of such tx. Is the event that stax bill is paid in full prior tothe application of « property tax credit under the provisions ofthis section, the owner or owners of such prope shall be eligible fora refund ofthe amount of the eredit na manner to be determined by the municipality. The residential property tax rele allowed by tis seetion shall be applicable in th in which revaluation becomes effective and in each of the four sueeeeding assessment yeu, (e) Management study requirement for municipalities adopting a plan under subsection (@). (1) Any municipality electing to provide residemist property tax relict in aecoedance with this section shall conduct a managestent study of is muniejpal government within one year following implementation of such program. Such study shall include, but ot be limited 9, program review of expenciture, organization, management of Finances and assessment practees ‘The stuly shall elu inp from the loeal business community and residential property taxpayers (2) The study reslts shal be sported to the legslarive badly of dhe municipality for consideration. The legisiative boty’ shall hold at least two publi hearings andl shall consider the cconnmendalins of the si on! publi input therean, Vollowing such public hearings, the legislative body sball develop a plan of implementation and shall ile such plan with the setetary ofthe Oilice of Paley and Management and with the General Assenhly (3) Any municipality whieh falls to comply with the provisions of this subseeton shall be sibjet to the penalty provisions of subsection (8) of seeson 12-62, (A. SBD, S. 1, 10;P.A, 89-251, 8, 191, 192, 208; PA, 90-148, 8. L4, 1; 90-962, 8.24 June Sp. Sess. PA. 91-14, S 7,30, May Sp Sess. PAA.U2-17, 8.10, 59; PAA.O4-195, 81, 32 May Sp. Sess. PA. 91-4, 8, 80,85, P.A. 98-160, §, 64.69: P.A, 06-183, 8.3.) Note: Pursuant to public wet 06-183, setian 12-604 is applicable tw assessment years commencing on or after Octal peated, effective July 1, 2006, and 1, 2010 History: P.A. 88-321, S, 1 effective May 10, 1988, and applicable to assessment years ‘commencing October 1, 1987, and dheceafler; P-A. 89-251 provided in Subse (2) thal the state program of residential property tas relief would apply to municipalities with evaluations effective for assessment years eommencing in 1987 snd 1988, in Tiew of assessment years commencing in 1987 to 1991, inclusive, af exiginally established, and made corresponding ‘changes in dates in Subsecs.(b) and (@), and added Subse. () enabling a municipality to adopt residential property tax relief ia accordance with Subsee, (h) ina year such municipality has implemented a revaluation ofall real property, provided in such year the effective ax rte for residenta! property is 1.5% or more of market value of such property, Subse. (f) providing for property ta surcharge in minicipalities adopting a program in sceordance with Subse. (k), with surcharge to be applicable to commercial, industrial or public wility property except motorvehicles, Subse. (g} defining residential propery for purposes of «program adopted in accordance with Subsec.(h), Subse. (b} describing the allemative plans of prapeaty ts credit ‘which may be adapted based on the sanouat derived from the property tex surcharge, Subse) providing thet any monicipality aiopting 2 plan under Subse. (h) may not adopt a plan under Sec. 12-62e related to the same revaluation, and providing that » dedicated fund be established for purposes of tie property tx credit program, Sulsec.¢) requiring that prope tax credits ‘may not be ereited to te frst installment e the tax andl providing that if axis paid in full before the ered, «refund procedure shall apply and Subse. (k) reqiting 2 managemect sty of miancipel government in any municipality opting a plan under Subsee.(k); P.A. 90-148 mended Subsee. (by excluding multiple-dwvelling structures which are moze than 50% residential fom teal propery classified as commercial and subject the surcharge, effective May 18, 1990, and applicable ta assessment years of municipalities commencing on or after October 1, 1989: P.A. 90-267 amended Subsec. (to provide thatthe surcharge against each individual propery shall be made on a basis which includes otherwise exempted mulitamily residential structures, effective June 8, 1990, and applicable to assessment years of ‘muaieipalties commencing on ar after October {, 1989; June Sp. Sess, P.A, 91-14 deleted the former Subsecs. (a) 10 (), inclusive, which establishe a program ofsate-eimbursed property tax zelie,relevering remaining Subsces. and revising references to them accordingly, effective Getoher 1, 1991, aad applicable wo the sssessinent year commencing Osiaber 1, 19%; May Sp. ess, P.A, 92-17 amended Subsee. (6 to exclude lodging houses from rel propery classics as ‘commercial and sshjest to the surcharge but to provide thatthe surcharge against cach individual propery be made on e bass which includes osherwise exempled lodging houses, effective June 19, 1992, and applicable to assessment years of municipalities commencing on or aller Oviober 1, 1991; P.A, 94-175 made s technical change in the statutory reference in Subseo. (83), celfzotive June 2, 1994; Mey Sp. Seas. P.A. 94-4 and B.A. 95-160 revised elective date OF P.A, ‘94-175 but withous affecting this section: P.A. 05-183 repealed section, effective July 1, 2006, ‘and applicable to assessment years commencing on oralter October 1, 2010Summary of Public Act 06-183 Residential and Apartment Property Tax Relief Commercial Surcharge Phase-Out State Statute §12-62n ‘he act allows a municipality dut meets certain conditions 19 implement @ special propesy tax rele program limiting annual tax increases for residential and epariment propedy resulting fhom a revaluation to 3.5% per year for five years. TL applies to any tmunicipality tht, in the October 1, 20815 assessment year, was implementing the state “ax cap” law (Staxute §12-62U) that allows towas to provide a property tax eredit for family houses funded by a suichage oz other property of up 1 15% Hartford is the only municipality that used the tax cap law and is thus the only municipality that enn implement che eats praperty tax relief program. Asa condition of using the program, Hartford must reduce the nones tax suecharge to no more than 7.5% as ofthe October 1, 2010 assexsenent year. The act repeats the stature (§12-624) thet asthorized the tnx eap program, This acts effective as fof July 1, 2008, but the tay telie® provisions apoly to rxumicipal sssessment years stating fon oF eller October 1, 2006 while the t# eap progtam repeal applies to maiipal fassesoment years susting es arsafler October 1, 2001 ents! property The act allows Hutord to implement the special property tax relief programm ifthe ety adopts an ondinarce to da so and the eity assessor deverminss that, without the program, the share of the city's total grand list altibutable to residential and apartment property Will inerease by 20% in the October 1, 2006 assessment year 28 « result of revaluation, The act defines residential property as any building, land, and accessory buildings and improvements baving ons to four évelling units and aparimen: property as having five or rove dwelling unis To implement the program, the aot exemps Tartibrd from the statutory requirement that all property be assessed for property las purposes at 70% of its fai anarket value, Inswead, it requis the Hartiord assessor to calculate separate annual assessment ratios, ‘one for residential property classes, ane for aperiment property classes and one for ail wither classes, These ratios must produce, it che revalustion year and each of the four Following years, av average anual property tx increase attributable to the revaluation of 3.5% forthe residensal end apartment classes, ‘The set regultes the city to-use the revenue from these tax increases on residential and partment property Wo proportionately reduce the 15% tax surcharge on the city’s other propery classes. Il equizes that the surcharge be no more than 7.5% in the October 1, 2010 assessment year and totally remo the Ootobr 1, 2017 assessment year12-620, Municipal option to adopt wssesement rates limiting property (4x inereases on apartment and lental properties. (8) Fore porposes fis section (2) "Apartaent property teats x builng comaing five or more dell nits use fer human baiation, the perel of land on which such building ested, an ny eecessry builngs er cther improvements Festa jon such pase, (2) "Base yer” means the fiscal year iumediately preceding de scl year in which a social eves ropesty taxes othe basis of assessments derived rom a cevaustion implemented pursuant o section 12-02, and (0) "Residential propery” means a buliting containing our or fewer dwveling units used for aman habitation, ‘he pare! oF lind om which such building is situated, and any sccessry ullditgs or other improventenss located sn such parca () Notvithstanding ay provision ofthe penal sare or aay speci act, rameter any hare ale ‘ordinance any runicipslity in which the provisions of sexton 1-624 ae effective Torte assess Yee ‘omazaeiag Octber 1, 2005, may, byonnance, op the property lx systrn describ inthis section, provide te assessor of sich muicipality cermin that wlio plementation of such propery ex system, implementation of revaluation forte assessment yer cmmnencing October |, 2006, would result increase ‘oF ienty pe ent inthe share of the tte rand levy forall proper inthe year folowing the base yer, rte propery lasses composed of apartnen property and residential proper (6) nan mripalty that adopts the propety’tax system under this section, the assessor hal detemine inte of assessment fo apatment property and esidential property for the assesament year ia which «vevalution i ‘tfctve that wl ave the feet of increasing the average property 8a a result of evaluation fee the propeey ‘laser comapoved of epartment property sad residential property, by the an one-half por ont over the propery tax for seid propery classes in the Bice yer, Tas nsreaes on spurte proper al sient popes provides fr inthis subrection stall be sed ta ree, in te aout derived Tom sch increases, Se surchange Uindr seston 12-628, Tae astessor sll recalulatethe rte of ascstuent or aportett propor ad sexe property foreach ofthe fur assessment years following the zssessrient year i which the provisions 0 ths Section bcome effective such tha the average propsty tax forthe property castes composed of apatnent property and residential propenty increases as asl of said evaluation by thee and oneal pet ceat ver the avers propery ln provided by this subseston for such popecy classes in each pio Fiscal year. Noswithsanding the provisions of subsection (6) of seetion[2-62a, the assessor sll establish tte of assess foal real properly ther an apetnent progeny an residential groper, tn offoetste the peowisions ofthis ston (@) Subject tothe apartment end reside! property tax relief described in susection (e ofthis seston and concurrent wits the assessment year in wich a municipal adops nd implements the property ix system oer this section, sch muaisipalty shall begin eo phase out proporienaely the impact f the propery tax surcharge unser seston 12-624 te extent nesessary to escomplish the purposes ofthis selon. Fer the asessme year commencing October T, 2010, such property tx surcharge shall not exceed seven and enchal per cent ofthe Property lan forall property other than apatisent property and residential propery History: PA, 06.183 efletive July 1, 2006, al epplisable to assessment yeats commencing on or afer October 1, 2006REVALUATION INFORMATION ‘A Revaluation is the process of performing all of the necessary Market Analysis and Valuation steps to determine accurate and equitable values for all properties within a municipally, ‘The equalization of tae values within a municipalty creales a fair distribution of the tax burden. The purpose of a Revaluation is not to raise taxes. The purpose is fo create an equitable aistibution ofthe tax load. ‘On Friday June 8, 2007 the Harford Court of Common Gaunci adapted the following resolution: RESOLUTION TO PHASE IN A REVALUATION AND REAL PROPERTY ASSESSMENTS WHEREAS, Conmectiout General Statutes Section 12.620, auihenzes a municialiy iniplomenting @ revaluation of ab is real propesty ta phaso-m a reel propery assossmen! by requiang the Assessor fo gradual Increase the assessment oF tho rato of assessment authorizes the Logistative body of the munteipohly to approve such plase-n provided the Dphasewin sta! no! excosd fe (5} assessment years, inuding the year for which the revaluation Iselfectve; and WHEREAS, Cannacticut General Staules Section 12.62n, effective July 4, 2006, allows for a munioipalty to adopt assessment rates luring propery faxes on aparnent and rosiential propertiss for purpose of accomplishing eal property lax robe, and VINEREAS, By ifs forms, Connecticut Genero! Statutes Section 12.62n requires the Assessor fo establish a rate of assessment for al real property, other than apartment property and residential propery, fo effectuate the provisions ofthe said Statute: and WHEREAS, The City of Hertford has determined to sock te provide propery tax relief to the residents and citizens of the Ciy uliting the protections end provisions of Section 12-622 and Soction 12-620, naw, trefore, be i RESOLVED, That tho Cly of Harton, in accordance with the provisions and allowances of Section 12-620 and Section 12-62n of the Connecticut General Statutes, and being m he edt fof implementing a revaluation of ell ts roal property, hereby approves a pian for @ phase-ia of the resulting inorease of tho assossmant or rato of assessment sppiicable to the sard real property forthe penis eommencing wi tho 2006 Grand List and! contsiuing forthe succeeding Tour (4) assessment years, subject to the ngit of the Counc to eiscontine the phasexn term at fany time prior to completion of sais term, a as provided by Statute: ard ho KTurtor RESOLVED, That the Assessor be dvected to accomplish all such assessments as may full the direction and the intent of the Counei set forth hore, acting within the strictures of the Logisation: and be it father RESOLVED, That the City, acting by the Assessor in compliance with the State Statutes, shai rolily the Secretary of the Office of Poy and Management, fv wring, ofthe action taken wi resect tote phason,‘By adopting that resolution, the Hartford Court of Common Council aulhorized the 2006 assessironts to be phasod-in over a period of five years, Under this phase in plan assuring there fas been no new construction, the diference between the 2005 market vale (based on the 1999 revaluation) and the new 2008 market value will be Implemented over five years. For example: A Residential property with a previous market value of $70,000 is reassessed to $150,000, one-fifth of the diference will be added to the old market value each year for § years ($190,000 minus $70,000 = $80,000; then the $80,000 is divides by 5 = $16,000 per year for § years.) For the 2008 grand Ist (taxed in July 2007.) the new taxable market value would be {$86,000 ($70,000 plus $16,000); the 2007 grand list market value {taxed in July 2008) would be $102,000 ($70,000 plus $32,000}, the 2008 grand list market value (laxed in July 2003) wou'd ba $118,000 ($70,000 plus $48,000), the 2009 grand list market value (taxed in July 2040) would be $134,090 ($70,000 plus $84,000); the 2010 market value (axed in July 2071) would be the full $150,009 ($70,000 plus $20,000) In addition to phasing-in the market values, the City has adopted State Statute 12.620 which allows for an annual reduction to the 15% surcharge thal is presently placed on Non-residential property. This will be accomplished by applying cifferent assessment Fallos (0 various pes of property. The assessment ratio for 2009 is 27.618% for Residential (one to four family including condominiums), 40,0991% for Apartment and some Mixed-Use property and 70% for all remaining property. For the example given above, tne assessment fer the 2008 Grand List (taxed in July 2010) ours be $37,008, ($134,000 times .27618%%). The Residential and Apariment taxes will insrease ay 3.5% each year for the next § years to offset the decrease in the 15% surcharge, The surcivarge wil decrease by 1.5% each year until its 7.5% for the 2010 Grand List. For the 2011 Grand List twill be zero, ‘The mill rate that was applied to the July 2010 tax bills was set by the Hartford Court of Common Council in May 2010 at $72.79 per thousand of assessment. The annual surcharge for non-residential property will be 9.0% for the 2008 Grand List.See. 12-62e. Municipal option to phase in assessnie ing from revaluation of eal property (0X2) Aton inpemeatingsrevauation of al el property tay pase fy res prupery essessnetineease oF pontion of suo inrcane resting um sch revaluation, by reulrng the asesscr Co Brcually increase the assessment of Te ae af ssesien plicable to seh property in fe asesoment year preceding tat in whieh the revlon js implemented, in accordace with one ofthe mths sel Forth in subset (0) of this section, The Iegistive body othe town shall approve the dvison to provide for such phases, te nto by whi asconplised and its term, provided the nuniber of asssstent years over which sch gradual increases are reflected sal not exceed five essessment year, inl the ssessment yen for whic the revation = efctve. Ia town chooses o phase it a postion af de fneease the assesment ofeach panes of tel propery resching from sid realuation, aid legislative body sal establish a facto, which sll be not les than twenty five percent, eed stall apply sic actor se inereases forall parcels of real property rears of property lassfication. A tam choosing to phase in portion of assessment insrese shall lp such factor by the tal assessment inerese fo eah sich parcel o determine the anus of such ierense that shall not be sbjest othe Phase-ia. The assossmen increase foreach parcel ht shall be sulect othe gral ncreses fn amounts aes ‘af assessment, provided in subsection (b} of this Sotion, sal be (A) the eferense ewes the es sald -mltpication and the total assessment inresse for any such pret, or (B) theres rive when sch factor is subircted from the acted percemage by whish te assessment ofeach sch parcel iereased a esl of sch revaluation, over de assessment of such parcel in he greceding assessment year al said est fe ulipled by ‘sich pace tol ssessmen increase (2) Tne legislative body may approve te dscontinsace of a phese-n of eal property assessment nereses resuling fom the implementation ofa revaluation alan tne prot to te eompetin he pase fem fnpinallyappuoved, pried sich approval shall be made on of before the aeeessmet date thet the jcommencernent of the assessunt year fa whic such discontinuance i effective Inthe asessnent ye following the completion or disontiquance ofthe phase-in, assessments shall eet the vaktation of eal pope sstublated for suck revaluation, subject to adios fr new cotton aa eats fo eons OCcHTiNg, subsequent te the date of revelation and wn or prior to te de ots complesea a isconinusnee nd he at of assessment applicable in such you, as rquived by section 12628, (A town shal use one ofthe following meshode t detersine the phase-in of weal repety assessment Inecases othe phase in of a portion uf sch inrseses resting frm the noplen entation ofa revaluation, (1 The asessment of each parcel of real prope for he assessment year preceding that in which suc revaluation is efetve shal te subtracted fiom the assessrent ofeach sich parcel it effective year of sid revaluation, andthe annual amount of iceencnal awsessnent eres foreach sush pce shal be the tll of sic subtraction divided by the numberof years ofthe phase a erm, provided is town chooses pase i 2 Portion ofthe assessment iewease foreach real property puecl, the amount osc increas hat sot subject 19 the pase-in shall ot be reflected in sid calculi; oF {@) The ratio ofthe total assessed value ofall weabe el property for the assessment yer preceding tat in which evaluations etetive ac the total fer market value of such property as determined rn records of set sales in said yea, shall be subtracted from the ete of assessment set forth i section 12-6, an the anna incremental eae of assessment increase applicable toll pacel of el propery shall be the result of sh subiracton divided by the numberof years othe phase tena Prior deerining stich annua incremental rte ‘of estessment incase, town that chooses to phase in a pon of the asesemcat intense fi exch rel propery parcel shall maltipy the result of sid subtieton by the lstr established in accorGiee with subsection () ofthis Section, to deteine the ate of assessment shal ol be subject ta sch phase (9) The rao of the tal assessed value ofall taxable ea propery in each athe following props classes for the assessment year preceding that in which a revaluation ie effective ed the teal fir market value of sch Drapery in ea class as deterrine from records of stl sles in said ye, sal be subrted fom the st ofascossment st fot in soetion 12-424, andthe enmual incremental rate of esessnen neease applicable oa uel af al pops in each sek cas hal be te result of sch subracion divided by the amber of years of the phase i tem, whete sich propery clases ae: (A) Residential propery (B) commercial prope ncding apartments containing five or ce dling wis, indus open end public bly propery and (C) vaca Tal. the event the assess determines that hore are bo resres of acts sles of el open in any such property cls sad year or That the suber of sash actual sales fs insufficient for purposes of determining arate ttinsrense user his sbdin iso, the annual neremental ate of assessment increase determine under susivision {2yot this sosecton shal he used for said oper elas, (6) The sssessment of ay new construction th fist hecomes subject to taxation during an assessment eae asoinpassd within the ter ofa plas in shall he determined inthe sate maner asthe assessment of al her comparable real property fu sid assessment ye, sich ta the taal af incremental ieeases applicable sch ser compara cet ropes are reflected inthe assessment of sch now eosstrction prior ta he poration of such assesment purstant te section 1233a, (2) Not later han thing business days fer the dle a tos legislative by votes to phase in rel propery esses ceases esting fiom suck evalation, or votes to dscontnae such a phase, the cist execive ‘ices oF the town shall oily the Secstry ofthe Dif of Policy and Manageme, in wring, ofthe ation taken Any cit executive officer failing ta submit a noiiaton to sud ssorlary as rogue ty his subsection, shell forfeit one Fred olin athe sce Fr eae sash Fale ely Sp. Sess A, B7-LS.6,9; PA,SI-T9,S 3,4, PA, 95-283, 8, 6,68: P.A, 06-148, 2506-176, 8.3 16-196, 8, 296-298) istry: July Sp. Sess. 87-1, S. 6 effective ly 24,1967, and applicable fn any munis to any assessmest oar commencing ta 1987, 19EH oF 1980 im which «general revaluation of veal property 8 affative in uch ‘nuaisipaity: PA, 01-79 amended Subse. f) to take the section applicable Lo any assesment year commencing ‘nor after Octo 1, 1987, deleting former October 1, 1989, utotce, and amended Subse. (b)to steer for deterning iFinccemsnts ee equal effective April 26 1991 nd applicable to wsessmrt yeas oF ‘nicipalties commencing or or aer October 1, 191; PA, 95-283 amend Subse. () and (b) to make technical changes replacing four wit the years immediately following th yeu of revaluation in Subse. (a) and replacing Five with for years inlaling the year of rvalustion ia Suse. (bj effective July 6, 1995; PA. 06148 revised seca to provide for phasein of asessnent increases, implementing areeluation ever net mere than five ‘eit, ad discontinuance of «phase in, specify methods ta be use to determine amoun:of increas, provie for ‘asesameat of new eonstraction under hase Jo, require natce to the Office of Poiey and Management of vores to ‘low phas-i or discontinuance of phase-n, and prove for penaly oF $100 fa alae to subst the hotfcaion, effective Suns 6, 2006, and aplicable to assessment years commenving on or afer Onder L, 2006; PA. 06-176 revised section to provide for phasein of asseosmen increases cr potion of sich inereses, inplemsating a revlastion over not more than five years and discontnsmee oF a phase, specify methods to be Used to determine assessment increases or the phasein oF «portion of sich serene, assessment of nee ensiuction eid notice wo the Oiize of Policy and Mznagemeat of yoies callow pase or Wscatinuance of pase in, aad povie fora penalty o SOD for alae to submit naificaton elfetve ie, 2008, ara Epplcabie fo sessment years commencing on afer October 1, 2006; 1.8, 08-196 changed effestve dite of| P.A.06-176, 8.3 from June 9, 2006 at aplissble to aseessment yeas commencing on afer October 1, 2006, {october 1, 2006, snl applicable to assessment years commencing on or afler October 1, 2005, festive June 7, 206, and amended Subsees.(} sn (@) by deleting provisions re board of selectmen, effective October 1, 2006, land applicable In assesment years eormencing on or aler Oxtaber 1, 20052009 Market Value Totals Real Property LandUseGroup #Accts Description Market Value 100 16.947 Residential 071,512,282 200 Commercial —_2,075,807,667 300 Industrial 128,347,150 400 Public Utility 31,592,300 500 Vacant Land 182,736,300 600 Use Assin't 26,387 800 1,520__ Apartments, 13,306,789 Totals 21,020 6,374,328,845 Personal Property All 3,626 Pets. Properly 950,209,614 Motor Vehicte All 45,406 Motor Vehicle 379,299,944 Grand Totals All $7,703,838,404 Prepared by Haserbera 1182010Real Property 2010 Market Value Estimates Land Use Group #Accts Description Market Value 100 16.970 Residential —_-3,078,770,923, 101 7,075 One Family 1,291,812,303 402 3,047 Two Family 658,830,850 403 3,264 Three Family 767,259,660 104 160 Four Family 40,933,800 105 2,902 Condominium 291,769,510 407 41° Multi Fam Res 18,395,000 108 481. Condo Garage 9,770,000 200 4,402 Commercial — 2,077,091,352 300 117 Industrial 124,300,108 400 11 Public Utility 29,480,500 500 4,014. Vacant Land 600 1 Assim't 800 4.516 Totals 21,028 Personal Property All 3,626 Pers. Property 950,209,614 Motor Vehi All 45,406 Motor Vehicle 379,299,944 Grand Totals All 7,705,714,148 Prepared byllabarvere 11842010 Page{nite Stes Government [state of Connsctiost [Municpat [educational IReigious [Miscetanesns oral, 2005 - 2009 Exempt Property Assessment Totals sna 595457.180, 218.416560 2610201 en x BN PED POEM G00‘Owner Oscupies Residential Property ‘Owner Occupied | 1,957 7856505, [Residential (1-4 & Condo) ‘One Famiy-78 9% “Two Fama Ties Fama? 4%, ToT ase 474i 05 SeRea oro Condomameee TE uli Fam oss. 24 2 Condo Gareges-32 7%. ao. a70, 682 -4488,350, 3.198.700, = = 3 Feu Far 37 2% 3 16297 374 = 3 5 Non Owner Occupied [5 12555518 [Residential (1-4 & Condo} One Faiz re PaaZA “Two Famiy-35 5% 254,543,785) “Thee Famiy-s2.6% a3 782 our Family 52 8% 25.701. ‘Cenéoriiums-55 7 151-340. Tui Fan Fouses-78 0 5.008 620, Conde Garages. 67.3%, 575210‘Tax Comparison with other Towns-Gitles 2008 - Totals vex] | ott tax municipany | syle | sqrt | tauaate | arervene | Assia cts | Se a a Tz fanterd-—[Renen [477] 7278 | —vea00_—[ 03.550 0 [ 380 Framngon— Raver —| toe 1. peraoo [i aa| ae Raneen [Raves [ante | aa rea ce pei ——Jranet —|-teso_| ze | eo o09 van ao | a30 Foe tanto Rever [ub Sra) —[ aap zai] Rew sre —franor | te00, ees [eat Sas [ate oabrsga— [Raver —[ “188 ee aoe Tet ae 36 [ a8 [Seam nasser [Rane | 1700 Zao | ea 00 wae rset te "Ee 600 o_| aa] jor Seg [ aga ist Havet [Raven —[ 1700 ae | a Nosingen [Rarer [0 fo [ se es aver —Iaarer | 202 T2510 zes_ [as sesetaey —earet—[ ten oo [27 2a see] Hane aarst | a7 7a 909 [tie a bara [ean Ee 200 [ts a0 2H [83 Hanford Tax Capin place for 00872010 -RasigoniislAsscesmontRato= 276185 with Phazodn ‘ilother assessment ratio ro 70% No Resident Tex Cop or Commoris! Surcharge -FY 4112 Ml Rats etinated @ 55.80 (atte — ime ses eee] Prosred by ates 11972030 PagePlanning 2011 fal Key Dates ‘ACTIVITY Start End List Residential Sales January 1, 2014 September 30, 2014 Pre: Review Commercial Apa 4, 2011 May 31, 2011 [Pre-Review Residential February 1, 2011 ‘August 31, 2011 Data Entry of Changes February 1, 2014 ‘August 81, 2014 List Commind Sales February 4, 2014 March 31, 2011 Neighbarood Analysis February 12011 | March 31, 2011 |vacant Land & Gost Study ‘April 1, 2001 May 34, 2011 income & Expense Analysis June 4, 2011 daly 24, 2014 Valuation Testing ‘August t, 2017 ‘August 34, 2011 [Residential & Conde Valuation September 1, 2011 November 30, 2011 [Comm/ind/Apt Valuation June 1, 2011 November 30, 2011 Notice to Taxpayer December 1, 2017 Informal Interviows | December 1, 2014 January 31, 2012 [Grand List Completion January 341, 2092CHLY OF HARTFORD REVALUATION PROARCT- PROPERTY DESCRIPTION REPORT “The folowing descriptive information has beer: callectd for your property et November 9, 2010 ANN SANYA\ GOODWIN EIR 230 LAIETPURDSET 6.055205 1p Locations 008 GOODWIN CIR Ut 25D e2e Progeny Owner “The Cty af Haron is curry conducting 8 Gye revaustionefectve Cciober 1, 20°1 in sraroe wih Convacte.t Sate Staite 12-020), regain “auctor af al eal property. Tina Revuttar ie based 0 te information prosaniod bean relative to ya. property Ploase review his ale, end iihere are ary Inccuracios, pase crass ou te neoeet information ard wit tre new ‘einaios oveety ov tis epart. Please be avised ht onelerspecton willbe requred by ane of tho olen sat i veny any eseroparcies. Ifyou rave aquest, please contac! us at 860-757-9640 “Thank you for your eoapestion Sanya Ain, CORA Aceon: Aesorser, Cy of Harone 4. Prop Use: CORUM 10, Buliing type: Condo Towns 2 Let size 41 Year butte 2004 S #otUnis: 4 12 ToraiLiving Area: 3,442 4. Gasement Finish 89 18, #ofFicoplaces: 1 5 Total Bee Rooms: 3 4a, Basement Garage: & Total Rooms? 416, Central Ai): 100 7. Ful Bath: 3 416. Thvee quarter Bath Mann Bath:4 8. Heating System: Warm Air ‘What kod of verti as dane ithe as ye Teale Daw ‘Phone Nee (Day Time‘aun so-eees “ane ate