Assessment Update - Tax Year 2020

For tax year 2020, all property values will be updated to market value as of April 1, 2020.  The real estate market is a volatile one and the Town wide update of values is the opportunity to correct any inequities that may exist since the time of the last update (2015). Some values will increase, some will decrease and others will remain the same. However, this does not provide an indication of your future taxes.

Taxes are based on the combined budgets for the town, school and county.  The tax rate is determined by taking those budgets divided by the overall value of the town to arrive at a tax rate to “pay the bills”.  As such, until the Town wide revaluation is complete and the total value of the Town is calculated there is no way to estimate what the new tax rate will be.

Your new values will be calculated as of April 1st but will not be implemented until the final notice of tax or what is commonly referred to as the December tax bill.  Your first tax bill used your prior year’s assessment (unless you had altered your property recently for example:  a new addition, new shed, finished basement, etc.) and ½ of last year’s tax rate, as this is required by State Law.

As part of the update process, you will receive in the mail a notice of new value, which will include a phone number that you can call to arrange to meet with an Avitar representative to discuss your assessment.  Instructions will also be provided to access the on-line database and review the information about your property and every other property in Nottingham, including the sale properties that were used to help establish the new values.  We strongly encourage you to review your data online to be sure you are being assessed reflective of the accurate attributes for your home.  If the physical data is incorrectly shown, it could lead to an erroneous assessment.