REAL ESTATE TAXES
Real estate tax bills are generated from the Grand List prepared by the Assessor every October 1st. The bills are mailed the following June.
*Bills under $100 are due IN FULL July 1st, payable by the first business day of August.
*Bills over $100 are due in two installments. The first installment is due July 1st, payable by the first business day of August and the second installment is due January 1st, payable by the first business day of February. We DO NOT send a bill for the second installment but you can sign up for an email reminder
To avoid a penalty:
*Payment for the first installment must be postmarked, hand-delivered or paid online by the first business day of August. Payments made after the first business day of August will incur interest at the rate of 1.5% per month calculated back to the July 1st due date (interest charge in August is 3%; 1.5% for July, 1.5% for August).
*Payment for the second installment must be postmarked, hand-delivered or paid online by the first business day of February. Payments made after the first business day in February will incur interest at the rate of 1.5% per month calculated back to the January 1st due date (interest charge in February is 3%; 1.5% for January, 1.5% for February).
Taxes are calculated by multiplying the assessed value times the mill rate. For example:
If 100% value of home is $200,000, the tax is calculated as follows:
$200,000 x 70% = $140,000 (the assessed value)
$140,000 x .0251 (mill rate of 25.1) = $3,514.00/year
Incremental bills for newly constructed homes are issued between
July and January each year.
PLEASE CONTACT OUR OFFICE IF YOU:
*Pay off your mortgage and no longer escrow your taxes.
*Are a new owner of property in town
How do I change the mailing address for my real estate tax bill?
For clarification purposes, mailing address changes must be made in writing. Please send your request to firstname.lastname@example.org . Please include your name, property location and new mailing address. this information will be forwarded to our Assessor for the permanent record.
I no longer own the property for which I received a tax bill. What should I do?
Please contact our office immediately. We will update our records and get a new bill out to the current owner.
I never received a bill, why do I have to pay interest?
The state statute reads: “failure to receive a bill does not invalidate the tax due”. If you haven’t received a bill and you believe you should have, please call the tax office at 860-693-7843 to verify a bill was issued. You can also e-mail us your questions at email@example.com and we would be happy to get back to you.
My taxes are escrowed. Why did I receive the tax bill?
Your lender has not notified us of their intent to pay your tax bill. Please call your lender to be sure they have the correct information to pay your bill.
How is your real estate assessment determined?
To arrive at the estimated "fair market value" for your property, the assessor must know what "willing sellers" and "willing buyers" are doing in the marketplace. The Assessor must collect, record and analyze a great deal of information about property and market characteristics, in order to estimate the fair market value, including cost of construction in the area and changes in zoning, financing and economic conditions that may affect property values. The Assessor uses the three nationally recognized appraisal approaches to value: cost, income and market. This data is then correlated into a final value.
The object of the valuation program is to estimate "the fair market value" as of a particular date, known as the "revaluation assessment date."
What if I disagree with the Assessment value?
If your opinion of the value of your property differs from the assessment value, by all means go to the office and discuss the matter. A "street card" is available for every property in Town. Ask to see your card. The staff will be glad to answer your questions about the assessment value. Ask yourself three questions:
Is my data correct?
Is my value in line with others on the street?
Is my value in line with sale prices in my neighborhood as of the last town-wide revaluation?
Keep in mind what is important: Sale prices, condition, neighborhood, building size and lot area are the most critical factors in the valuation process. There is a variety of information available to help you determine whether your assessment is fair and equitable. The staff will be happy to assist you, and no appointment is necessary.
If after discussing the matter with the staff, and researching the assessments of comparable properties within your area, a difference of opinion still exists, you may appeal your assessment to the Board of Assessment Appeals by filing an appeal application.
What types of exemptions (reductions from property taxes) does the Town of Canton offer?
A variety of exemptions are available to reduce property tax obligations for certain qualifying taxpayers: elderly persons, blind persons, veterans, disabled veterans, surviving spouse or widow of qualified veterans and social security totally disabled persons. The qualifying date is October 1st of each year.
Because of the number and complexity of exemptions, the following table is intended only to give you a general idea of what is available. If you have the slightest suspicion you may be eligible or have any questions, call the Assessor's Office to discuss details!
Note that certain exemption applications will require a copy of the IRS tax forms filed in the last calendar year. An additional qualification for most exemptions is, being a legal resident of CT, having ownership and residing at the property, as of the assessment date, October 1st.