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Greenwich has completed a revaluation of all real estate in town, Assessor Ted Gwartney announced on Tuesday. Residents will soon receive notices of their new assessments, and there will be a public meeting later in the month to explain the methods used in the revaluation.
"Everyone's real estate value changes, up and down, so people are always anxious to understand why we're doing it, how it's being done and what impact it's going to have on them," said Gwartney. "Every real property owner will get a notice that will show his old assessment, his new assessment and his old tax rate alongside what his tax rate may be with the new assessment."
The 2010 Grand List will be 11.6 percent lower than the 2009 Grand List, said Gwartney. All real estate parcels were reappraised in the revaluation, which began in October. Many properties decreased by more than 20 percent, while some increased in value. Residential properties decreased by an average of 13 percent.
Assessment changes will be mailed to all property owners on Thursday, Nov. 18, and there will be a public meeting on Nov. 29 at 7 p.m. in the Greenwich Library Cole Auditorium to explain property owners' rights to appeal their new assessment.
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