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1. What is the Collect Required Physical Data phase?

During this phase, Listers, otherwise known as data collectors, go to each property and physically inspect the interior and exterior of each building. They note the building's location, size, age, and quality of construction, number of bedrooms and bathrooms, improvements, topography, utilities, zoning restrictions, if any, and numerous other characteristics both inside and out. If the property recently sold, the lister will inquire about the terms of the sale. If the property is a potential income producing property (apartment, office building, etc.) the lister may inquire about rental information. In order to obtain proof that a property was inspected, the owner is asked to sign the data collection form to verify that the inspection took place. The entire process typically takes approximately 15 minutes. If you are unsure about letting a person in, listers should carry proper identification and will have their information on file at the police department and the assessors’ office. Due to the cost required to physically visit properties, this step is not undertaken on every project.

For more information, please call 860-665-8530.

2. What is the Collect / Verify Specific Market data phase?

During this time, mailers are often sent in order to gain further insight on properties that have recently sold, existing property data and commercial/industrial property lease information.

For more information, please call 860-665-8530.

3. What are the quality control procedures?

As data is being collected, managers from both the company as well as the City and Town often revisit a property to double check the data collection process.

For more information, please call 860-665-8530.

4. What is analysis?

A variety of resources are used to analyze the real estate market. While the physical data is being collected by Listers, experienced appraisers will be analyzing recent sales as well as lease information to determine which market factors influenced property values. Once all the data is collected and reviewed for accuracy, the appraisers will begin to set values using information gathered from past market activity. Valuation is done using one of the three widely accepted valuation methods which are the market, cost or income approach.

For more information, please call 860-665-8530.

5. What is Field Review and Value Correlation?

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. This typically involves a visual view from the street as opposed to a physical inspection of the property.

For more information, please call 860-665-8530.

6. What are Informal Hearings?

Once the Field Review is completed, a Notice of New Values may be mailed to each property owner. At this time, anyone with questions concerning their value, the revaluation process or about the data collected on their property has an opportunity to meet with someone to discuss their property value.

For more information, please call 860-665-8530.

7. What is the Project Completion phase?

During this phase, the company has made all final changes. In order for the project to be complete, the Town must formally accept all values. Once this is complete, all information is formally turned over to the City or Town. Typically tax bills are produced using the new values to calculate individual taxes.

For more information, please call 860-665-8530.