Appealing a Commercial Property Assessment in Connecticut: The Appraiser's View

If you own commercial property in Connecticut and think the town's assessment is too high, an appraisal is usually the strongest evidence you can bring. Here is how the process works and where an appraiser fits.

How Connecticut assesses property

Towns assess property for the grand list as of October 1. Connecticut assessments are set at a percentage of fair market value, 70 percent under state statute, and towns revalue on a periodic schedule. An assessment is only as accurate as the value behind it, and mass-appraisal values can miss things specific to your building: vacancy, deferred maintenance, below-market rents, or functional problems.

The appeal path, in outline

• Board of Assessment Appeals. Owners generally file with the town's board in February after the grand list date. Confirm the exact deadline with your town, because missing it can end the year's appeal.
• Superior Court. If the board does not resolve it, state law provides for an appeal to Superior Court within a short statutory window after the board's decision. Your attorney should confirm the timing.

What an appraiser contributes

A credible appeal rests on a market value as of the revaluation or assessment date. An appraiser develops that value from the income, sales comparison and, where relevant, cost approaches, and documents the property's actual rents, expenses, vacancy and condition. That supports a specific number the board or court can compare to the assessor's.

When an appeal is worth pursuing

• Recent purchase, refinance or appraisal well below the assessed value
• Falling occupancy or rents since the last revaluation
• Major deferred maintenance, environmental issues or functional obsolescence
• Neighboring comparable properties assessed much lower

Run the math first. Savings equal the value reduction times 70 percent times the mill rate, every year the reduced assessment holds, set against the cost of the appraisal and any attorney fees.

This article is general information, not legal advice. Deadlines and procedures vary by town, so confirm with your town assessor and an attorney.

Talk to a Certified General Appraiser

Call (860) 294-4325 or email operations@baldwinappraisals.com to discuss the property and timeline. Michael Baldwin holds an active Connecticut Certified General Real Estate Appraiser credential, RCG.0001733.