2023 Revaluation

In accordance with Connecticut General Statutes, the Town of Wilton is engaged in a property revaluation to establish updated real estate assessments for the October 1, 2023 grand list.  This revaluation will correspond to the tax bills that will be due beginning in July 2024.

The Town of Wilton has contracted with Vision Government Solutions, Inc. a state of Connecticut certified Revaluation Company, to assist the assessor in completing the revaluation project.

What is a Revaluation?

Revaluation is the process in which data collection and market analysis is done to reappraise all real estate in the Town of Wilton.  The purpose of the revaluation is to re-establish equity among properties that may have appreciated or depreciated in value at different rates since the last revaluation as of October 1, 2017

The main purpose of a revaluation is to develop accurate and uniform assessments among real estate, based on fair market value. This, in turn, will generate an equitable tax base throughout the town and ensure that the tax burden will be fairly distributed among Wilton taxpayers. A revaluation is a revenue neutral process. Meaning that the amount of taxes the town needs to collect is based on the budget, regardless of whether or not a revaluation takes place. What is likely to change is the amount of taxes individual taxpayers pay, based on the property value shifts that occur every five years. July 2024 will be the first tax bills impacted by this revaluation.

The Revaluation Process

Revaluation is a process required by state law.  There are five major phases to a municipal revaluation: 1) Data Collection, 2) Market Analysis, 3) Valuation, 4) Field Review, and 5) Informal and Formal Appeal Hearings.  Many tasks will be implemented during these phases in order to complete the revaluation.

Phase 1 - Data Collection

A data mailer was sent to all residential property owners in the Town of Wilton on or around May 2023 (click here to see a sample data mailer).  The town is using data mailers to verify the information on file for all residential properties.  In most cases, completing, signing, and returning the data mailer to Vision Government Solutions within 10 days of its receipt will constitute an inspection for revaluation per state statutes.

A response to this mailing with or without changes was required within 10 days of the receipt of 
the data mailer. If there was no response, the information on file along with possible 
estimates for this property would be used for valuation purposes.

Properties may require inspections based on changes received or enumerated on the data mailer, if the property was recently sold, if the property has an open building permit, 
or randomly for quality control purposes.

When in the field performing inspections, Vision inspectors will carry ID badges as well as written documentation from the Town stating their affiliation with the project.  Vision inspectors are not prepared to answer questions concerning current values or town laws.  

If homeowners have a question as to the identity of a Vision employee or if they have questions regarding their current assessment and taxes, they should contact the Wilton Assessor’s Office at assessor@wiltonct.org or (203) 563-0121.  

Phase 2 - Market Analysis

A variety of resources are used to analyze the real estate market.  Appraisal personnel will be analyzing property sales over the course of the past two years to determine which market factors influence property values.  Once all the data has been collected and reviewed for accuracy, appraisers will determine land values and define neighborhoods.  The valuation of locations throughout the town is determined by actual market activity.

Phase 3 - Valuation

Valuation is done using three recognized appraisal methods: the Cost Approach, the Income Approach (pertaining to income-producing commercial properties), and the Sales Comparison Approach.  During this phase, individual characteristics of buildings are analyzed using information gathered in both phases 1 and 2.  Each property is compared to other properties with similar characteristics.  The contributory market value of improvements is added to the previously determined land values.  This value is the final estimate for each parcel of property, including building and land.

Phase 4 - Field Review

Field Review is the method of re-checking both the values that have been determined and the data that has been collected.  During this review, properties are viewed in the field by experienced appraisers who double-check uniformity and accuracy of information.

Phase 5- Informal and Formal Appeal Hearings

Once the revaluation process is completed, Vision Government Solutions will send property owners their new assessment (end of November/early December).  At that time property owners will have the ability to review the new valuations online or in the Assessor’s Office. 

Property owners will be given the opportunity to meet with a staff member from Vision Government Solutions to discuss their new valuation during an informal hearing.  Vision Government Solutions staff will explain the basis for the new assessment and property owners can provide comments or support for a possible adjustment before the final assessments are submitted by Vision Government Solutions to the Assessor.  In-person or remote informal hearings will begin approximately two to three weeks after the new assessments are sent.  Look for an update from the Assessor with the dates and information on how to schedule an appointment.

The Assessor is required to sign and file the grand list by January 31, 2024 (February 29, 2024, if an extension is requested).

Final assessment notices will be mailed by February 10, 2024 (March 10^th, if an extension is requested).  Owners who wish to appeal their assessment will have the opportunity to do so at a Board of Assessment Appeals (BAA) hearing. Applications for a BAA hearing are required to be submitted from February 1 – February 20, 2024 (March 1-March 20, 2024, if an extension is requested) and hearings will be held in March 2024 (April 2024, if an extension is requested). 

Once all five phases are completed, all data, files, and records used in the revaluation will be given to the Assessor’s Office.  This will allow the town to maintain the data collected and values determined during the revaluation on a continual basis.

Wilton Revaluation Schedule: