Hello all. Upon purchasing your investment property, does Connecticut reassess your property taxes. For example, the house is assessed currently at $46,000 and valued at over $150,000. Would the property taxes increase after purchase?
@Keshia Romelus The sale of a property doesn't necessarily trigger a reassessment. However, the next time the city/town is assessing properties, they'll likely take the selling price into account.
@Cameron Norfleet Hello. How often is this done? Do you have to agree for them to reassess?
I don't want to get into legalities as to whether or not you have to allow them to come into the property. But at least once in every 10 years, an assessor may request a taxpayer's permission to enter a building in order to verify its condition, and other information the assessor needs, to establish its fair market value
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