Because it only happens once every four years, (it used to be 10!), people forget the intent and process. That's why we asked the City Manager to have the City Assessor, Mike Modarski, to give a presentation at a recent City Council meeting. He also wrote an op-ed in the Record Journal, to give folks a bit of a heads up.
Doesn't matter. People are still upset, and I can't blame them. I did respond to an emailer through the City website with the following, trying to give some answers as I know them at this time:
HI, (E-mailer), thank you for your note, and it's not the first nor last that the City Council will be hearing on the matter of revaluation. It's one of the reasons we had the City Assessor give an overview of the process a couple Council meetings ago, and also had him write an op-ed, to help prepare and educate Meriden's citizens. Clearly, we have more work to do in this regard.
Revaluation is a jarring event for most home owners, but a necessary (and state-mandated) task the City must undergo every four years. It's even more daunting given the increase in market values of property in those past few years, the most being in residential values. The last revaluation saw the bigger hit on commercial properties. The purpose of revaluation is to "even" out and make fair property assessments against benchmarks that take into account current market values of similar properties. But I know it's hard to accept when you don't "see" the value of your home rising so fast on a regular basis. On the other hand, would you accept the current assessment number (figured at 70% of market value) as a reasonable offer on your house? You'd most likely be insulted.
What you're seeing is the first part of the process, the re-setting of your home's assessment value to bring it to current levels. The other critical component is the adustment of the mill rate, downward, which in theory provides a revenue-neutral figure for overall taxation purposes. However, that theory gets adjusted for a number of variables, and that's where it gets sticky for everyone. Our City Manager was posed some of the questions you asked on expected tax increases. Here was Larry Kendzior's response:
"I'm hesitant to identify a mill rate because that rate could change dramatically if the Council adopts a phase in, and different phase in plans would have different effects. I also don't want to be held to a specific rate without some idea of where the budget is headed. The other problem is that any projection on the mill rate is dependant on the final grand list number, which will change even more than usual because the Board of Assessment Appeals will undoubtedly lower many assessments. But we can certainly emphasize that the mill rate will be substantially reduced."
As you can see, the City Council and administration still have a lot of work to do, not only with the budget bu also we need to know where the grand list will land, and that information won't be known for some time. I know this may not serve to calm your nerves, but I ask that you be patient, and let the process go forth. As your notice said, there are appeals available, but until all the info is gathered, final answers can't be given just yet.
One positive note that rarely gets mentioned, however: motor vehicle taxes will be reduced as they will be assessed against that same lowered mill rate. Perhaps not enough to offset any tax increase due to revaluation, but it's something.
I hope I helped here a little, at least in information.
I'll be asking the City Manager to provide updates about revaluation from time to time as part of his report to the City Council at the end of our meeting. We have a lot to do on this. And I look forward to your comments.
I'll be asking the City Manager to provide updates about revaluation from time to time as part of his report to the City Council at the end of our meeting. We have a lot to do on this. And I look forward to your comments.
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