Connecticut Property Tax Appeals: Deadlines and Key Considerations
As the new year begins, your clients may be facing important deadlines for appealing local property tax assessments in Connecticut. By understanding the process and acting promptly, you can help them avoid overpaying taxes on properties that may be inaccurately assessed.
Key Points of the Connecticut Property Tax Appeal Process
- Uniform Assessment Date: All real and personal property in Connecticut is assessed as it exists on October 1 of each year. Property is assessed at 70% of its fair market value, as mandated by state law.
- Assessment Notices: Property owners receive notices of their property assessments by January 31 each year, except in non-revaluation years when no new notice is issued. These notices reflect the assessed/taxable value, which is not the full market value but rather 70% of it.
- Appeal Deadline: Applications for property tax appeals must be received on or before February 20. Missing this deadline could result in losing the right to appeal for the current assessment year.
Why Property Assessments May Be Inaccurate
Property assessments often rely on “mass appraisal” methods, which may not reflect a property’s actual market conditions. Factors such as commercial vacancies, increased operating expenses, or declining rents may warrant a reassessment to ensure fair taxation.
How McGuire Sponsel Supports CPA Firms
McGuire Sponsel partners with CPA firms to guide their clients through property tax appeals. Our expertise allows us to identify opportunities for appeals and provide seamless support throughout the process. All we need to get started is the property address.
Encourage your clients to act promptly, as the February 20 deadline is fast approaching. Missing this deadline could result in the loss of their right to appeal for the year. Contact our Property Tax Services team if you’d like to discuss a specific property or have questions about the process.
As Principal for McGuire Sponsel’s Property Tax practice, Ken Zdrok manages real property assessment review and appeals, personal property assessment review and appeals, pre-acquisition advising, and acquisition price allocation consulting.
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