Vision Government Solutions has been hired by the Town of Newtown to begin the latest town-wide revaluation project.

New Town Assessor Kathy Brown said that by Connecticut State Statute, every town must do a revaluation every five years. The last in Newtown was in 2017, and was a “full measure enlist,” meaning that it was a full revaluation with home inspectors canvassing most of the town, “knocking on every door.”

This year’s revaluation is an “update revaluation,” meaning that it is mostly based on the sales of the last few years and the only home inspections are of homes that have been recently sold, as well as looking at any current construction.

“This is based on sales over the last few years to determine where the values of all properties have gone since 2017,” said Brown.

There are five major phases to a municipal revaluation: Data collection, market analysis, valuation, field review, and informal hearings. During these phases over 100 tasks will be implemented in order to successfully complete the revaluation.

The data collection phase, which started this month, is where the town currently is, with two inspectors from Vision going around town looking at homes that were recently sold and new construction. The Assessor’s Office, the First Selectman’s Office and the Police Department all have the names, cars and license plate numbers of these inspectors.

If residents have questions about individuals who may be inspecting their homes, Brown said they should feel free to call any of those three agencies to confirm if it is a Vision inspector. Additionally, the inspectors will be wearing name tags to help identify them.

The inspectors are mostly looking to verify that information submitted during the sale of the property is correct. During this phase a data collector will visit properties which have been sold and may be used in the analysis to set values.

Properties with open building permits will also have data collected. The data collector will note the building, size, age, components of construction, outbuildings, topography, utilities, and numerous other characteristics both inside and out. The town is updating photos as needed.

Data collectors are not currently inspecting interiors due to COVID policies. A data mailer will be sent to sale properties in late August/early September, so property owners may confirm the property data on file.

Subsequent Phases

During the second phase, market analysis, a variety of resources are used to analyze the real estate market. While the physical data is being collected by Vision data collectors, appraisal personnel will be analyzing sales that have taken place over the last few years to determine which market factors influenced property values.

Once all the data is collected and reviewed for accuracy, the appraisers will determine land value and set neighborhoods that rate the desirability of locations throughout the town.

The third phase, valuation, is done using one or more of the three recognized methods: replacement cost, income capitalization, and market value. During this phase, sale properties are evaluated and individual characteristics of the buildings are analyzed using information gathered in both phases one and two.

Computer models are generated using the sales information and are applied to all of the properties in town. This value is the preliminary estimate for each parcel of property, building, and land.

The fourth phase, field review is the method of checking and re-checking both the values that have been determined and the data that has been collected. During this review, properties are viewed in the field by experienced appraisers who double check uniformity and accuracy of information.

“They’re checking to make sure the information they’ve gathered is accurate and the valuations are uniform; for instance, two similar homes next to each other on the same street have similar valuations,” said Brown.

Once the field review is completed and the final analysis completed, a notice with the preliminary new assessed value will be mailed to each property owner. This notice is expected to go out sometime after October 1, 2022.

At this time, anyone with questions concerning the revaluation process or about the data collected on their property has an opportunity to meet with a member of Vision’s staff to discuss their property in the fifth phase, informal hearings.

Assessor’s Last Word

After all five phases are completed all data, files, records, etc. used in the revaluation are then turned over to the Newtown Assessor’s Office.

“This office has the final say,” Brown said.

Anyone disputing the valuation of their home at this point will be able to file an appeal with the Board of Assessment Appeals, and go through that process.

Brown noted that this year home values have increased significantly, but this may not necessarily translate into a tax increase.

“This has nothing to do with the budget process yet,” said Brown.

The effect on taxes from the revaluation can not be known until the mill rate is set, and the mill rate is set with the current Grand List of the town in mind.

“This is not taxes, this is valuation assessments,” said Brown. “Taxes may actually go down.”

Brown also said that home values can be fluid, and a few years ago, values were dropping. Even with the current spike in values, those values may go back down in the future.

The new home valuations will go into effect after next year’s budget process, in July 2023.

Reporter Jim Taylor can be reached at jim@thebee.com.