Important Real Estate Information
General Assessment Information
The annual Grand List or Assessment Date is October 1st.
In compliance with Connecticut General Statutes (CGS) the Town of Southington completed a real property revaluation as required for the October 1, 2015 Grand List.
The 2015 grand list was filed with the Town Clerk and includes the completed revaluation required by state law.
The first tax bills to reflect the revised assessments will be issued on or about July 1, 2016.
The assessments from the revaluation will be used with the new mill rate of $29.64 as adopted by the Southington Town Council's finalized budget to compute tax bills due July 2016 and January 2017.
The Town hired Municipal Valuation Services of Fairfield, CT., to assist with the October 1, 2015 revaluation of all real estate.
The Revaluation Process
There are six major phases to a municipal revaluation: Data Verification/Collection, Market Analysis, Valuation, Field Review, Informal Hearings, and Formal Appeals.
Phase 1 - Data Verification/Collection Mailers (March 2015)
A letter or data mailer containing a summary of a property's information will be mailed to each property owner. Property owners will be allowed to submit corrections. All corrections will be reviewed carefully, verified, and corrected with a field visit if necessary. Some corrections may be resolved by telephone.
Employees of Municipal Valuation Services will have identification and carry documentation from the Town of Southington stating their affiliation with the revaluation.
New photographs or digital images of each property will be recorded and added to the assessment database.
Phase 2 - Market Analysis
A variety of information sources are used to analyze the real estate market. While the property information is being verified and collected, real estate sales that have occurred since October 1, 2013 will be analyzed to determine to what degree certain market factors, (e.g. location, building size) affect property value. Once all the sales are verified, appraisers will set valuation schedules that determine values for all properties throughout the town.
Phase 3 - Valuation
Valuation is done using the three traditional approaches to value: the Cost Approach, the Income Approach, and the Sales Comparison Approach. During this phase all properties will be valued based upon the valuation schedules established in Phase 2 (Market Analysis).
Phase 4 - Field Review
For each property in town, field review is a method of checking both the value that has been calculated along with the data collected. During this review, properties are viewed in the field by experienced appraisers who double check uniformity and accuracy of information.
Phase 5 - Informal Appeal Hearings (January 26, 2016 to February 5, 2016) By Appointment Only
At the conclusion of field review, in January 2016, all property owners will receive a notice of their new assessment. At this time, anyone with questions concerning the revaluation process or about the data collected on their property will have an opportunity to meet with a member of Municipal Valuation Service's staff to discuss their property value. The informal hearing also provides an opportunity to correct any erroneous information or provide details concerning the property that may not be known. A follow-up notice will be mailed in February to any property owner attending an informal hearing.
Phase 6 - Formal Appeal Hearings (Filing Deadline March 18, 2016)
Any property owner dissatisfied with their assessment at the conclusion of the informal appeal process may file a formal appeal with the town's Board of Assessment Appeals. The filing deadline will be March 18, 2016.