Milford Residential Property Values Largely Flat as Revaluation Continues: Report

MILFORD, CT — The word revaluation can often spark fear for homeowners because of the volatility of the housing market but City Assessor Dan Thomas says residential property values appear to be largely stable over the past five years, the Milford Mirror reports.

This means property assessments would remain largely the same. The city already approved a tax decrease for this year.

And it's always possible that some properties will increase in value, especially houses on the Shoreline, which haven't been damaged by prior major storms, the Mirror reports.

Also some Shoreline houses damaged by past storms will have their values decrease. Realtors told the Mirror that they largely agree that property values in Milford have remained stable but Bob Joy says residential property values have definitely declined.

Milford residents will receive their new assessments in the mail in December and January.

For more on the revaluation process read the full Milford Mirror story here.