NORWALK, Conn. – It looks like most Norwalk residential and property values are going up in the revaluation now being finalized, a press release from the City said Friday.
This does not necessarily mean that your tax bill will go up by a corresponding amount, the release stressed.
Connecticut municipalities are mandated by law to revalue their taxpayers’ properties every five years. Tyler Technologies Inc. is assisting the Norwalk tax assessors office in this go round.
Norwalk is in the final phase of the reval, “and while the initial assessment shows the majority of residential and commercial property values going up, it does not mean a similar tax increase is on the horizon,” the release said.
“Whether a property increased or decreased in value is not necessarily indicative of the next tax bill. Property assessments are only one factor in determining taxes, as the main driver is the city’s budget and mill rate, both of which have yet to be approved,” Norwalk Mayor Harry Rilling is quoted as saying in the release. “I understand residents and property owners may have concerns, and I encourage them to schedule a hearing if they feel their property assessment is not equitable.”
Tyler representative are holding informal hearings for anyone with questions or concerns about the new assessments, between Dec. 5 and 29 in City Hall, the release said, explaining, “If a property owner believes the assessment on their property is inaccurate, disproportionate or excessive, they are encouraged to schedule an informal hearing by visiting norwalkct.org/hearing.”
More information is available in the document below.