Vision Government Solutions, an appraisal firm hired by the town, recently completed a revaluation of Monroe’s residential and commercial property values and notices for the new assessments will soon be mailed out to property owners. Assessment values, which are used to calculate individual tax bills, represent 70 percent of market value as of Oct. 1, 2019.
“The prior assessment was based upon market value as of 2014,” said Assessor Justin Feldman. “State law requires each town to conduct a revaluation every five years.”
Residents should not use the current tax (mill) rate with their new assessment, which will be used only after next year’s budget is adopted in the spring and the Board of Finance sets the new mill rate.
Feldman also said once notices have been mailed, updated property assessments and property records will be available on Vision Government Solutions’ website for Monroe.
Any property owners questioning their new assessments will have the opportunity for an informal hearing with Vision. All meetings will be held by appointment only, between Dec. 2 and 20 at either Monroe Town Hall or the Edith Wheeler Memorial Library. Instructions on scheduling a meeting will be included in the new assessment notices being mailed out, as well as being posted on the Assessor’s page of the town website.
“We encourage property owners to take advantage of the opportunity to meet with a representative of Vision to review your assessment,” said First Selectman Ken Kellogg. “These meetings allow property owners to address any issues or concerns they may have before the revaluation is finalized.”
Property owners who wish to appeal their assessment after the informal hearing process with Vision may do so by filing an appeal application with the Board of Assessment Appeals, available online and from the Assessor’s Office.