2023 Town Wide Revaluation
The Town of Chester has contracted with eQuality Valuation Services, LLC., to assist the Assessor with the State-mandated Revaluation for October 1, 2023.
What is revaluation? “Revaluation” or “revalue” means to establish the present true and actual value of all real property in a town as of a specific assessment date. The purpose of a revaluation, which is required to be done every five years, is to correct any inequities in Assessment values that may develop over the 5-year period.
BUT WE NEED YOUR HELP! In March & April 2023, residents of Chester will be receiving a ‘Data Mailer’. Data mailers are the most collaborative way we can verify that interior data of your home is accurate – this is step one in ensuring that the tax burden is spread equitably. It is imperative to the success of this revaluation that we all fill out and return the data mailer in a timely and accurate fashion (via the prepaid envelope provided or online submission). If the property owner does not submit the data mailer truthfully, or at all, it is possible that inequities can occur.
From March 2023 through August 2023, Data Collectors from eQuality will begin conducting onsite visits for exterior detail collection. Features such as building dimensions, story height, heating systems, and basement type, will be noted. Updated photos will also be taken of each building on the property. Data Collectors will clearly display identification. Their name, photo, and vehicle details will be shared with the Chester Police Department, and with residents in the Selectman’s weekly emails. Homeowners are encouraged to ask for identification from anyone on their property.
Once property data is collected via the mailer and onsite visit, statistical testing of Town sales, rental income, local building costs, and other valuation factors will be conducted. Market driven mathematical models will be created and tested. These models will help to estimate the market value of similar unsold properties. This is the process of mass-appraisal.
In November 2023, each property owner will receive a notice listing their new assessed value (which is 70% of the market value) alongside their last assessment (based on the 2018 revaluation). Instructions will be listed on this notice about informal hearings. Should you feel that the 2023 assessment is an inaccurate appraisal of current value, you will be provided with instructions to attend your own informal hearing to resolve any discrepancies directly with eQuality. These reviews will take place in towards the end of November and beginning of December 2023.
Revaluation assessments will take effect in your July 2024 bills. However, It is important to remember that tax bills do not increase based on your assessment value alone. A property’s assessed value multiplied by the annual mill rate determines property taxes. The mill rate depends on the Town's budget and is determined by the town’s governing board and ultimately voted on in a Town Meeting. Chester residents are encouraged to attend and vote on the Town’s budget and mill rate – meetings are listed publicly on our site and in weekly emails to residents.
The Town of Chester would like to thank you in advance for your patience during this process. Please contact the Assessor’s office at 860-526-0013 x 512 if you have any questions about the 2023 Revaluation process.