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Town board approves contract to reassess 39 multifamily apartment buildings
Summary
As the town board the council approved a contract with Property Valuation and Tax Advisors LLC to perform field inspections and reassess 39 multifamily apartment buildings; staff said the work uses comparables and CoStar data, and council was told reassessments could affect future tax bills.
While sitting as the town board, the council approved a contract with Property Valuation and Tax Advisors LLC (agenda item 259013) to conduct field inspections and reassess a subset of multifamily apartment properties.
A representative described the contract scope as field inspections, sketching, and use of comparable sales data, noting the firm has access to CoStar and has provided similar services in other areas. "With this project, the company ... will be helping reassess 39 of the multifamily apartment buildings," the speaker said.
Council asked whether reassessments could affect tax bills; the presenter replied that if assessments change (up or down) the change could affect future tax bills. Council voted 6–0 to approve the contract. Staff said the work would provide updated sketches and data that will be useful to the county and public-facing resources.
