2006 Assessment 
We all tend to get a little concerned when it comes to a reassessment, but we should remember that it’s purpose is to equalize the tax burden based on updated values.
Last year one of my big complaints to the School system was that they (according to State law) compute our taxes based on the Equalized value and when this number was expressed in dollars per thousand it resulted in a fictitious low number. Now, after our recent reassessment, the “State Equalized” value is slightly smaller than the TOTAL assessed valuation for the county. The notable thing about this is that the Equalized value last year was about 50% higher than the total assessed value for the County.
I have looked at the effects of these changes in our assessed values and considering that the County and Town portions of our Tax bill are frozen (that is the total levy) and the School levy is going up 7%, following is what I have calculated the effect to be on this up coming tax bill;
First, consider your TOTAL change in assessed valuation. That is, land AND improvements (buildings etc.). If this value went up less than a 53% increase over last years total assessed valuation, your taxes should go down!! If this value went up more that a 53% increase over last years total assessed value, your taxes will go up.
Land values have really gone up in recent years and that is the most significant increase on your reassessment. If you have no or minimal improvements on your property, you will definitely exceed the 53% and have an increase in your taxes.
Karl Richter
