Is My Assessed Value Correct?
If you are wondering if your assessment is correct, consider the following:
- Can you sell your property for the assessed amount? Assessments in CT reflect 70% of market value. (Example: Property valued at $500,000 x .70 = $350,000 assessment).
- Does the Assessor's Office have the correct information on your property? You can review the information that the Assessor's Office has collected on your property to make sure the data is accurate. Bristol makes this information available via the Vision Appraisal online database. The information can also be reviewed at the Bristol Assessor's Office. While reviewing your property information, you should make sure that all measurements on the sketch are accurate. Please note that all measurements are taken from the exterior of the property. You should also verify the land size and Construction Detail data to ensure accuracy.
- How much are similar properties in my neighborhood selling for? Bristol has property information available online. You can do a sales search using the Vision Appraisal online database. Just click on "Enter Online Database" and then click on "Sales Search" at the top left of the page. Make sure to chose recent sales that are similar to your own property. For instance, if you own a 2,000 square foot Colonial on a 1/2 acre of land, be sure to fill out the same options in the Sales Search. You should search the sales to find properties that are located as close to your property as possible before making any comparisons. If you know of a recent sale that is not yet in the database, you may be able to find the information at the Assessor's Office or on local real estate websites.
- How much have similar properties in your neighborhood been assessed for? If you do not have any recent sales activity in your area, you can look up the assessed value of similar parcels that are located near you. Please be aware that what may appear to be a similar parcel may be very different based on construction features and/or land size. You can view parcels on your street by going to the Vision Appraisal online database and using the "Street Listing" feature at the top of the page.