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Assessor’s FAQ
The grand list is the compilation of all assessments. It includes real estate, motor vehicles and personal property. Ownership and values are based on the assessment date of October 1st. The grand list also includes exemptions and abatements allowed according to Connecticut General Statutes.
The 2023 Grand List mill rate is $22.00 Municipal and 1.65 Fire District. All parcels in Sterling are included in the Fire District. One mill is the rate per 1,000, so the property tax rate per $1,000 of assessment is $22.00 Municipal and $1.65 Fire District
To calculate your taxes please use the following formula:
(Property Assessment at 70% value) × (mill rate) = Property tax
Example: $100,000 assessment × 0.02200 mill rate = $ 2,200 tax due
Last Revaluation effective 10/01/2022
Next Revaluation effective 10/01/2027
- What is my assessment?
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Your assessment is the value of your property at 70% of its fair market value at the time of revaluation.
- What is fair market value?
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Fair market value is the price for a property that would be agreed upon between a willing and informed buyer and a willing and informed seller under usual and ordinary circumstances. It is the highest price a property would sell for if it were on the open market for a reasonable period of time.
- How does the assessor value my property?
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There are several factors assessors take into consideration when valuing a property and a couple different approaches. The most used approach is the sales approach. The sales approach entails comparing the specific property to similar properties that have sold recently. Important considerations are location, size, condition, quality, and time of sale.