Town of Brookfield

Revaluation 2006

Overview

The Connecticut State General Statutes require that municipalities perform revaluation no later than five years after the last revaluation and that all real property is assessed at 70% of current actual value. The Town of Brookfield last completed a full physical (100% interior inspection) revaluation 10/1/2001. The next revaluation of real property assessments is scheduled for 10/1/2006. This revaluation project will update all real property market values by the analysis of existing market conditions together with interior inspections of those properties undergoing physical change and those that have recently sold.

The Town of Brookfield has contracted VISION APPRAISAL TECHNOLOGY of Northburo MA to perform revaluation services for the 2006 Revaluation Project.

Public Information

George Hlavacek CCMA II, Assessor for the Town of Brookfield is responsible for managing the revaluation project. Information pertaining to this project will be provided on this website, at the Vision Appraisal Technology website, in the Brookfield Journal, and in public meetings.

Informational Link @ Vision Appraisal Technology

The attached link to the Vision Appraisal Technology (the contracted revaluation company) website http://reval.visionappraisal.com/brookfieldct/ is intended to provide a project overview, define objectives, and to serve as an educational recourse to the public. Information provided includes a project summary, project flowchart, frequently asked questions, resource links, educational videos, sample revaluation taxpayer forms, revaluation news articles, and preparation for taxpayer hearings.

Press Release

February 2006

VISION APPRAISAL TECHNOLOGY TO CONDUCT BROOKFIELD’S STATISTICAL REVALUATION

Vision Appraisal Technology Inc. has been hired by the Town of Brookfield to begin a Town wide Statistical Revaluation Project. Vision Appraisal will be working with the Assessing Department to make the 12 month process a successful one. There are five major phases to a municipal revaluation: Data Collection, Market Analysis, Valuation, Field Review, and Informal Hearings. During these phases over 100 tasks will be implemented in order to successfully complete the revaluation. The following is a general outline and explanation of each phase of the project.

PHASE 1: DATA COLLECTION

Since this is a statistical revaluation, a physical visit to every property will not be necessary. Instead, properties with outstanding building permits may require a visit by a property lister. During this visit, "Listers" physically inspect the interior and exterior of each building. They note the building’s location, size, and age, quality of construction, improvements as well as numerous other characteristics. They also record information about the site’s topography, utilities, zoning restrictions, if any, as well as any other features of the land. For recent sale properties, questions may be asked regarding specific details involved with the sale. Interior inspections will not be done unless an adult is present. To ensure that a home was inspected, the homeowner will be asked to sign the data collection form that simply verifies that the inspection took place. The entire process takes approximately 15 minutes.

All Vision Representatives will carry Identification Cards and have their cars listed with both the Assessing Office and Municipal Police.

PHASE 2: MARKET ANALYSIS

A variety of resources are used to analyze the real estate market, the most important of which is sales data. While the necessary physical data is being collected by Vision Listers, appraisal personnel will be analyzing recent sales to determine which property factors influenced their market values. Once all the data is collected and reviewed for accuracy, the appraiser will determine average building and land values and will set neighborhoods that rate the desirability of locations throughout the Town.

PHASE 3: VALUATION

Valuations are determined using one or more of the three recognized valuation methods- the Cost, Income or Market approach. The cost approach is most frequently used during a revaluation because the cost rates can closely represent a municipality’s selling prices and the rates can be applied fairly and equitably to all parcels (both sale and non-sale) in Town. In addition to the cost approach, an income approach may be applied to all commercial, industrial and apartment buildings in Town. This approach values a property based on its ability to earn income through rent. It also acts as a back up to the cost approach.

PHASE 4: FIELD REVIEW

During this phase, experienced appraisers drive the streets and perform a visual review of each property. They double check the data that exists on each property and then set the final assessed value.

PHASE 5: INFORMAL HEARINGS

Once the Field Review is completed, a Notice of New Values will be mailed to each property owner. At this time, anyone with questions concerning the revaluation process or about the data collected on their property has an opportunity to meet with a member of Vision's staff to discuss their property value.

After all five phases are completed all data, files, records, etc. used in the revaluation are then turned over to the Assessors Office.

For more information, please visit Vision’s taxpayer information site at http://reval.visionappraisal.com/TaxpayerInfo/.