The Town of Deep River had a general property revaluation effective October 1, 2015. Under Section 12-62 of the Connecticut General Statutes, the Town is now required to implement a revaluation no later than five years from the preceding revaluation. The maintenance of an equitable tax base, and the location and appraisal of all real and personal property within the Town for inclusion onto the Grand List is the responsibility of the Assessor's Office. The Grand List represents the total of assessed values for all taxable real and personal property located within the
Town on October 1. Assessments for real property are computed at 70 percent of the estimated market value at the time of the last general revaluation. The Board of Assessment Appeals determines whether adjustments to the Assessor's list on assessments under appeal are warranted.
When a new structure or modification to an existing structure is undertaken, the Assessor's Office receives a copy of the permit issued by the Building Inspector. A physical appraisal is then completed and the structure classified and priced from a schedule developed at the time of the last revaluation. Property depreciation and obsolescence factors are also considered when arriving at an equitable value. New construction complete after the October 1 assessment is prorated onto the grand list from the date the Building Official issues the Certificate of Occupancy or when the structure is occupied.
All personal property (furniture, fixtures, equipment, and machinery) is revalued annually. An assessor's check and audit is completed periodically. Deadline for filing the declaration is November 1. Assessments for personal property are computed at 70 percent of present value.
Motor vehicle lists are furnished to the Town by the State of Connecticut, and values of motor vehicles are accomplished in accordance with an automobile price schedule published in the National Automotive Dealers Association as recommended by the State Office of Policy and Management. Section 12-71b of the Connecticut General Statutes provides that motor vehicles which are registered with the Commissioner of Motor Vehicles after the October 1 assessment date but before the next July 1 are subject to a property tax as if the motor vehicle had been included on the October 1 Grand List. The assessment is prorated, and the proration is based on the number of months of ownership between October 1 and the following September 30th. Motor vehicles purchased in August and September are not assessed until the next October 1 Grand List. If the motor vehicle replaces a motor vehicle that was assessed on the October 1 Grand List, the taxpayer is entitled to certain credits. Assessments for
motor vehicles are computed at 70 percent of the annual appraisal of average clean retail value.