Quote:
Originally Posted by Rattlesnake Guy
I thought that the entire state went on a standardized valuation a few years back because of the partial state funding (pronounced donor towns) of schools in some less affluent towns. You want to live in a town with lots of property value and fewer children. Towns like Alton are certainly helped in that regard with water front properties.
Towns that school coop with an affluent town have the potential for the worst case. Little property value with a high spending appetite of the affluent town.
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They are on a standardized method monitored by the state dept of revenue admin (DRA). Real estate values rise and fall at different rates in various towns and each is always in a catch-up mode. Based on actual sales over the previous year DRA calculates an equalization ratio for each town. This is then used calculate the full value tax rate used in the state education calculations.
DRA uses the actual sales data vs assessed values to also calculate other town unique statistics which if out of tolerance lead to a revaluation.