How to Find Out What the Tax Man Thinks Your Fairfield County House is Worth and Why it Matters

August 8th, 2008 categories: Market Data & Statistics, Redding, Ridgefield, Selling Your House, Talking Real Estate, Wilton

You’re just a few clicks away from knowing what any house is worth! Whether you’re buying a house, selling a house or just living in your house for the time being, it’s always good to know the local tax assessment. Assessments in Connecticut are updated every 5 years and represent 70% of a homes true market value.

Take Ridgefield for example. In 2007 the Tax Assessor (Al Garzi), worked with a vendor to revalue every property in town. Based on actual sales, they objectively assign a dollar value to each parcel in order to fairly divide up Ridgefield’s tax burden. If a house has recently changed ownership, it is likely that that the new assessment will reflect this transaction price.

When I value a home for sale or purchase, I present my client with 4 different market valuation models based on several factors. The tax assessment is a major input to my valuation model for any individual home. Not only the assessment for that particular house, but the assessments for all the comparable houses that have recently sold and are currently on the market.

Contact us to learn more about how to accurately model the value of any home. Weather you’re buying, selling, or just tracking the value of you current home, it’s important to keep an accurate read on it’s market value.