Town officials said this week that it’s too early to predict whether the value of properties will go down as the result of a revaluation happening now.
“I’m not even going to go there,’‘ Town Assessor Eva Lintzner when asked if property values would decline due to the economy and slump in the real estate market.
“It’s just way too early to speculate. We’ll have to wait and see until all the information comes in,’‘ she said.
Currently, Vision Appraisal of Northboro Mass., is assisting the town in a town-wide state mandated revaluation.
Representatives of the company are going from property to property to do assessments. Representatives are verifying exterior building measurements and are performing interior inspections of all residential, commercial and industrial properties in town.
The town is paying $268,400 for the revaluation.
First Selectwoman Maryann Drayton-Rogers said she too would not predict how property values will be effected by the revaluation. “All I can say is that it is going very smoothly and we have not had any complaints,’‘ she said.
Drayton-Rogers said that revaluation is mandated by the state every five years. She said the town could have received an extension by the state but that they went ahead and did it now because they were able to secure a better price for the revaluation process.
“We did not run into a lot of competition when interviewing companies,’‘ she said.
Jennifer Rukstela, project manager for Vision Appraisal, said the entire process takes 14 months and will wrap up in Jan. 2011. She said home values are based on home sales through Oct. 1, 2010. She said that until a full analysis of these sales is completed, the company cannot comment on any changes.
Lintzer said that of the 5,747 total property accounts, 4,944 are residential properties, 78 are commercial properties, 72 are industrial properties, 494 are vacant land and 158 properties listed are as assorted use such as forestry land.
For more information on the revaluation process call Lintzner at (203) 888‑2543 or visit the Vision Appraisal website.