The town-wide revaluation of all real estate in the Town of Farmington has begun. The new assessment will reflects 70% of the fair market value of your property as of October 1, 2026. The revaluation is required by law this year because it has been four years since the previous revaluation.  Assessments derived from the revaluation will first be used for tax bills July 1, 2027.

If you have any questions or concerns about this process, please feel free to contact the Assessor’s Office.

Frequently Asked Questions:

Do you have questions about your Revaluation?  Start here!

We’ve compiled a list of Frequently Asked Questions to help you understand how the 2026 revaluation will affect your taxes beginning in July of 2027.

Q: What is a revaluation?

A: A revaluation for property tax assessment purposes is the process of verifying property data, analyzing economic data, and then appraising all town real estate at a common point in time. The purpose is to equalize assessments at a common level so that all property owners pay only their fair share of the property tax burden. The values for this project will reflect the market as of October 1, 2026.

Q: Why is the Town reappraising all properties?

A: State law requires a town-wide revaluation on a schedule established by the state Office of Policy and Management. The last revaluation was as of October 1, 2022, and the market has changed at different rates for different kinds of properties since then.

Q: What factors will be used to determine the revaluation of my property?

A: Throughout 2026, Tyler Technologies will collect data from properties in Town. They looked at items such as: number of bedrooms and bathrooms, types of heating and cooling systems, the year the house was built, and general construction, such materials and physical condition of the interior and exterior. Data collection includes property questionnaires and limited inspections. Following data collection, Tyler Technologies will perform a valuation analysis using mass appraisal techniques. During this process, Tyler appraisers analyze local building costs, property sales, and other valuation factors to establish preliminary market values. These initial values are then reviewed in the field to check for accuracy and consistency. Appraisers then make any necessary changes.

Q: How will revaluation affect my taxes?

A: By itself, a revaluation is revenue neutral, although it will cause tax burden shifts among properties. Some owners will see increases while others will see decreases, and yet others will remain approximately the same.

Q: What is a mill rate?

A: A Mill rate is a tax rate—the amount of tax payable per dollar of the assessed value of a property.

Q: What's the Difference Between Your Home's Market and Assessed Value?

A: The Market value of a property is often referred to as the fair market value. The market value determines how much a home would most likely have sold for as of the assessment date. The assessed value is 70% of the property’s market value. The assessed value is what the Town uses to set the property taxes.

Q: How are my taxes calculated?

A: Property taxes are calculated by taking the assessed value of your property (70% of the market value) dividing by 1,000 and multiplying by the mill rate.

For example: If your property’s market Value is $300,000, then the Town’s Assessed Value is $210,000.
$21,000/1,000 = 210
210 X Mill Rate = Your Yearly Taxes

Q: What if I am not satisfied with the new value?

A: Informal value review meetings will be conducted by Tyler during December 2026. These meetings are one on one with a Tyler reviewer. If a property owner is not satisfied with the results of an informal review, a formal appeal may be filed with the Farmington Board of Assessment Appeals in February 2027. Appeal applications must be in the Assessor’s Office by February 20, 2027.