The Bethel, Connecticut property revaluation is currently taking place, as per state law that requires towns to revaluate all property every five years.
Tyler Technologies/CLT has been hired to perform the revaluation of all 6,900+ parcels of real estate in Bethel. Commercial property inspections have already begun, and residential inspections will begin this week. It is expected that the revaluation will be completed by the end of May, 2007, but the inspectors must visit every home and business in town before completion in order to determine its current market value.
Information about the current revaluation, including a Q&A, can be found on the Town of Bethel, CT website.
In Connecticut, property taxes are based on an assessed value of 70% of what the revaluation process determines to be the property's market value. This assessed value is then multiplied by the mill (tax) rate, which is set annually by town vote on the town and school budgets, to determine the property taxes owed.