Are improvements to the property the only time the assessment increases?
A. No. Property assessments can be increased by revaluation. Which is an updating of all real property values of October 1st (given year) using recent sales, buildings costs …………State law mandates that every community in the State of Connecticut must be revalued at lease once every five years. The last reevaluation in Durham was 2005 (statistical). This only requires every property be inspected at least once every 12 years.
Related Questions
- How should the Property Growth Factor be calculated if the most recent assessment is not available at the time the budget is being determined?
- Do you favor a Ga. Constitutional Amendment to cap property assessment tax increases to 3 percent per year?
- What is the time frame for improvements to the property?
