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Assessor's 2006 Report

April 1st is the day property taxes are assessed every year. Property is assessed to the owner of record and new construction projects are assessed by the percent of completion on April 1st annually. The tax maps are updated as of April 1st. Applications for tax exemptions (Veteran, Homestead, Blind, Tree Growth, and Open Space) must be filed with the assessor on or before April 1st. Applications are available at the Town Office.

New construction and significant adjustments in the valuation model increased the total valuation by $135,121,225. The 2006 mill rate is $7.6 dollars per thousand dollars of valuation.

Budget cuts in the Assessing Department have forced the discontinuation of the annual Field Review of 25% of the developed properties in the community. The annual Sales Analysis has also been discontinued. I have been asked to submit a budget that covers the bare minimum needed to mail and defend tax bills. Unless this review process begins soon, you can expect equity to erode and the community will need a revaluation in about seven years. An additional $10,000 per year would cover the work needed to do the job.

I would like to thank my assistant, Gil Mastrovito for her diligence and competence in helping this office to maintain its present level of efficiency. Thank you for your patience over the past several years.

The Assessor's office hours are 8 - 1 Tuesday, Thursday and Friday. If you have any questions please call.

Gary R. Geaghan CMA CG311
Assessor

Five Year Valuation Comparisons

	2006	2005	2004	2003	2002
State Valuation	318,600,000	247,750,000	214,300,100	206,200,000	231,450,000
Increase	70,850,000	34,450,000	8,100,000	-29,850,000	-120,000
% Increase	28.6%	16.8%	3.9%	-16.9%	-0.67%

Town Valuation	394,222,346	259,101,121	191,476,836	152,207,255	148,206,965
Increase	135,121,225	67,624,185	39,269,581	4,000,290	3,537,781
% Increase	52.0%	35.31%	25.80%	2.7%	2.45%

Net Assessment	2,996,090	2,850,111	2,501,125	2,465,757	2,297,207
Increase/Decrease	145,979	348,986	35,368	168,550	38,922
% Change	5.12%	13.95%	1.4%	6.59%	1.7%

2007 State Valuation $387,050,000

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