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Revaluation Deferral Bill Awaits Malloy's Signature

Legislation proposed by Rep. Wadsworth would allow Farmington to delay implementing new property values.

Taxpayers Association President Harry Kraiza has called it Armageddon and many Town Council members have named it as a major concern for the town but Farmington looks close to deferring the effects of revaluation for one more year.

Legislation co-sponsored by State Rep. Bill Wadsworth, R-Farmington, that would allow Farmington, along with Norwich, Stamford, Windham and New Britain, to defer implementation of revaluation for one year has passed the House and Senate and is awaiting Gov. Dannel Malloy’s signature, Wadsworth said Monday.

The state of Connecticut mandates that real estate revaluation — the reassessment of market value of all property — is done every five years. Farmington’s last revaluation was done in 2007. Assessment employees have visited the majority of Farmington properties to verify the details and condition of properties and adjust their assessed values to bring them in line with the current market.

Unless the legislation passes, the values will be applied for the 2013 Grand List and because commercial property values especially have suffered in the past few years, the tax burden is likely to shift toward homeowners, council members have said.

“Revaluation will have a detrimental affect on our municipal budgets which will in turn affect residents,” said Wadsworth. “There is a built in four-to-five percent tax increase just as a result of this process. With our state’s current economy, this is just not the right time to place even more of a burden on our state’s municipalities and tax-payers. Giving municipalities the option to delay this procedure for a year will grant much fiscal relief to Farmington and other towns that are being threatened by the high cost and liability of revaluation.”

Passage of the legislation, House Bill 5424, would allow the town to wait one year before applying the new values.

Mike Clark May 15, 2012 at 07:43 PM
Great job by State Representative Bill Wadsworth and Town Council Chairman Jeff Hogan for getting this issue in front of and then passed by the Legislature! I still recall comments made at the town meetings that there was no chance of this delayed revaluation legislation passing. Great work by our elected officials!
Robert Parker May 15, 2012 at 08:05 PM
Quick, hit the panic button! I have said it before, and I will say it again. Exactly how has commercial properties in Farmington suffered? Is Westfarms Mall worth less than it was 5 years ago? Has the expansion of commercial properties in the FIP not increased the grand list? Have the additions of the Hampton Inn and the Connecticare Buildings on Route 6 proved worthless? I think not. I highly doubt there will be a dramatic shift of the tax burden to residential properties in Farmington. Please show us some evidence before trying to scare us.
Phil Dunn May 15, 2012 at 09:26 PM
Bill, I am glad to hear that the folks who had no faith in your efforts and those of Jeff Hogan to get this bill passed were wrong. This extra time will preserve the status quo and prevent any cyclical swings in the tax burden from commercial to residential, which would likely have occurred if the revaluation occurred this year. Great job!
John Haffner May 15, 2012 at 09:41 PM
Revals are going to happen at some point. Calling it "armageddon" is typical drama. Hopefully everyone knows that every town outside of Farmington goes through this too. Some of my relatives experienced LOWER taxes as a result of this year's reval. Oh well, I guess it defers complaints of typical taxes for one more year. I do not see how this helps at all though, since it will have to happen at some point. I am always blown away at the amount of complaints and talk of the end of the world when the mill rate is like 22. Try living ANYWHERE else. Your heads would explode.

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