IT’S REVALUATION TIME IN CANAAN
PRELIMINARY Values are now available (this are not the FINAL value – only an APPROXIMATION): Click to view: Preliminary Values Sorted by Owner. These are subject to change.
Canaan has recently completed the first phase of the revaluation as required by the Department of Revenue. The town’s assessed property values need to be between 90 – 110% of market value.
When people hear that their property value is increasing, it does not mean that a higher tax bill will occur. We know that Canaan’s average values are lower than they should be, but one of the factors that the Department of Revenue also evaluates each year is how proportional the values are between the different sections of the town and types of properties. When the value of property increases, the tax rate decreases, and the amount of taxes one pays remains approximately the same.
A field representative from the Department of Revenue will review several random properties in Canaan to verify the accuracy of our data.