Why is the Town revaluing all properties?
Section 12-62 of Connecticut Statutes requires that each municipality conduct a revaluation of all real property every five years, (previously every 4 years). The purpose of this requirement is to insure uniformity in real property valuations (fair market value) by eliminating inequities that have developed since the last revaluation due to changing market conditions. A revaluation is undertaken to: Secure a more equitable distribution of the tax burden To bring the assessment level up to date To modernize assessment procedures, and To comply with the state statutes Property values change over time; some types of property have appreciated at different annual change (appreciation) rates than other types of property since 2002. The last revaluation for the Town of Bethel was done in 2002. Real estate values in Bethel have been set at the 2002 level. Because property values have changed in that time, inequities have emerged. A properly conducted revaluation equalizes the inequities that t
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