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Torrington assessor outlines revaluation results: residential values up ~90%, motor-vehicle and veteran-rule changes to shrink grand list
Summary
City Assessor Stacy Maldonado and revaluation supervisor Paul Kennedy presented the 2024 revaluation results Jan. 21, reporting roughly 90% increase in residential values, a projected 12–13% reduction in the motor-vehicle grand list under new state rules, and an unexpected veterans’ exemption affecting about 48 properties and roughly $7.1 million
Torrington — City Assessor Stacy Maldonado told the Board of Finance on Jan. 21 that the 2024 statistical revaluation shows a sharp rise in residential assessments and that two recent state law changes will materially alter the city’s grand list.
Maldonado said the revaluation company’s statistical work shows an overall residential increase of roughly 90% and a total grand-list increase near 94% compared with the prior list. Paul Kennedy, the revaluation supervisor who led the residential valuation, told the board Torrington recorded 366 sales in the study period used (Oct. 1, 2023, through September 2024) and that the revaluation’s overall sales-assessment ratio is about 94%.
The assessor highlighted two state law changes affecting the 2024 grand list. First, motor vehicles will be valued using manufacturers’ suggested retail…
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