Your House's New Valuation In Simsbury, What You Need To Know

SIMSBURY, CT — Local homeowners should soon find out what their new property values are following last year's property revaluation process.

Town officials Tuesday said new residential property valuations were mailed out on Friday, Jan. 27, so if residents haven't gotten them yet in the mail, they should be coming soon.

There is also a website available where folks can look up their new home values and get detailed explanations about how revaluations work.

Essentially, property tax assessments play a key role in how much your tax bill is annually.

Assessments are 70 percent of the market value, so if an assessment goes up, so does the market value and the amount of money one can, likely, charge is selling a home.

Simsbury officials said the notices will include existing assessments based on the last revaluation done in 2017 and a new proposed revalued assessment based on the Oct. 1, 2022 market value.

Those who disagree with their new assessments have recourse and Instructions for scheduling an informal hearing with the town will be included in the notice.

Assessments from the notice will be used for tax bills that go out July 1 this year.

Pproperty owners are warned not to use the current mill rate to figure out what their new tax bill will be.

That's because a revaluation usually comes with an accompanying decline in the mill rate, as revaluation isn't, necessarily, a tax hike, but rather a new distribution of existing tax burdens.

For more information on the revalued property notices, click on this link.

To see your property record card, click on this website at Simsbury.equalitycama.com.