FY 2016 Property Tax Rates:
- Residential - $14.65
- Commercial - $27.17
The Board of Assessors in conjunction with the Department of Assessment is responsible for maintaining a list and description of every parcel of real property within the confines of the City. It is the job of the Board of Assessment and the Department to place a valuation on all real estate and personal property items (business equipment) within the City. They are also responsible for all non-taxable real property (consisting of land and improvements).
The department also processes an annual submission by the taxpayers of overvaluation through the abatement procedure. The exemption for elderly, age 65+, disabled veterans, widows/widowers and blind persons are also processed through this Department. The department is also, in conjunction with the granting of building permits by the Building Inspections Department, responsible for reassessing all properties which have been changed or upgraded.
Based upon the requirements set forth by the Department of Revenue (DOR), all cities and towns must conduct a triennial (Every three years) revaluation of all personal and real property. It is through this process and constant gathering of sales data, that the Board and the Department, are able to keep current with the values and the DOR requirements. All values derived must be certified by the Department of Revenue in writing before the City's annual tax roll and tax rate can be set.