Ratio

Annually the town provides the Department of Revenue Administration with sales and assessment information which they use to establish the annual ratio.  The ratio is the assessment divided by the sales price.  This relationship overall shows the general level of assessment town wide. Following a revaluation the intent is to be close to 100%. The 2022 ratio is 65.%.  The state DRA stratifies different types of properties when calculating the ratios.  This tells us if waterfront, Condos, Land only, Commercials or Residential homes are over or under assessed compared to one another.  This information helps to identify the areas that need to be adjusted to more proportionately obtain values closer to the overall market.