Real estate is all land and all improvements (such as buildings, fences, and paved driveways), as well as easements to use air space (Chapter 203 - Sec. 12-64).

With the exception of certain classified land, the assessment of each parcel of real property represents 70% of its estimated fair market value as of the date of a revaluation (Chapter 203 - Sec. 12-62, Sec. 12-62a and Sec. 12-63).  Assessors value classified farm, forest, open space and maritime heritage on the basis of use, rather than on a fair market value basis (Chapter 203 - Sec. 12-107b through Sec. 12-107f and Public Act 07-127).

When a revaluation occurs, an assessor establishes the current fair market value of all real estate, in order to equalize the tax burden among property owners.   While assessors must revalue all real estate not later than five years after the October 1 effective date of the previous revaluation, they may revalue real estate more often than once every five years (Chapter 203 - Sec. 12-55 and Sec. 12-62).

Before a revaluation becomes effective, taxpayers may receive questionnaires so that they may verify information concerning their properties. At least once in every 10 assessment years, an assessor (or an assessor’s designee) 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 (Chapter 203 - Sec. 12-63). State law also imposes reporting requirements that affect owners of certain income-producing real estate in conjunction with revaluations (Chapter 203 - Sec. 12-63c).

Upon the completion of new construction (including building additions) in any year after the effective date of a revaluation, a taxpayer’s property assessment increases.  The increase represents the portion of an assessment year during which the newly constructed improvement may be used for its intended purpose (Chapter 203 - Sec. 12-53a). Under certain circumstances, a real estate assessment reduction may occur during an assessment due to the demolition of a building (Chapter 203 - Sec. 12-64a).

In Prospect, real estate tax bills that are $100.00 or more may be paid in two installments that become due July 1^st and January 1^st and are payable on or before August 1^st and February 1^st.

An inchoate or unrecorded lien exists on each property from the assessment date of October 1^st annually.  A Certificate of Continuing Lien is filed annually on June 1^st by the Tax Collector in the Town Clerk’s office and recorded in the land records for any property which has delinquent taxes for the current grand list year.

Any real estate property owner who owes a tax balance on more than two Grand List years or an amount of $10,000.00 or more will be turned over to the Marshal by means of an Alias Tax Warrant for collection and/or tax sale.  The Marshal will charge the tax payer 15% of the total listed on the warrant as well as all costs and fees incurred in the collection of taxes.

In general, personal property is anything that is moveable and is not a permanent part of real estate, including items such as business-owned furniture, fixtures, machinery or equipment, as well as horses and unregistered motor vehicles and snowmobiles that anyone owns (Chapter 203 - Sec. 12-71).

A taxpayer must file a Personal Property Declaration with the assessor of the city or town in which personal property is subject to taxation by November 1 annually (Chapter 203 - Sec. 12-41). An assessor may grant a taxpayer an extension of up to 45 days to file a declaration (Chapter 203 - Sec. 12-42). Nonresident taxpayers must also file a declaration (Chapter 203 - Sec. 12-43).

Lessors of personal property must also file a report with assessors by November 1, annually. This requirement affects any personal property (other than a Connecticut registered motor vehicle) that is subject to a contract of lease and is in a lessee’s possession and located in CT (Chapter 203 - Sec. 12-57a).

On a Personal Property Declaration, a taxpayer provides information concerning the year of acquisition of personal property, as well as the original cost of acquisition, freight and installation. Assessors apply depreciation to the total cost a taxpayer declares to obtain the depreciated value of personal property. The assessment of the property is 70% of the depreciated value.

If a taxpayer files a Personal Property Declaration subsequent to the date it is due, the assessor adds a 25% assessment penalty to the taxpayer’s assessment. A 25% assessment penalty can also be applied if a taxpayer fails to file a declaration, in which case an assessor uses the best information available to determine the value of the taxpayer’s personal property (Chapter 203 – Sec. 12-41 and Sec. 12-42).

An assessor (or an assessor’s designee) may conduct an audit regarding a taxpayer’s personal property. If an audit reveals that a taxpayer omitted property from a declaration or did not accurately report personal property costs, state law provides for a 25% penalty of the assessed value. Interest is applicable to the tax for such property from the tax due date for the assessment year to which the audit relates (Chapter 203 – Sec. 12-53).

Personal property taxes are not prorated if the business is closed or sold after October 1^st. In Prospect, personal property tax bills that are $100.00 or more may be paid in two installments that become due July 1^st and January 1^st and are payable on or before August 1^st and February 1^st.

A UCC-1 lien will be filed annually in March with the Secretary of State for any business owing delinquent personal property taxes.

All delinquent personal property taxes will be turned over to the Marshal for collection as of July 1^st for the previous grand list year by means of an Alias Tax Warrant. The Marshal will charge the tax payer 15% of the total listed on the warrant as well as all costs and fees incurred in the collection of taxes.

In general, motor vehicles are subject to taxation in the city or town where, in the normal course of their operation, they most frequently leave from and return to or remain, although state law provides some exceptions to this general rule (Chapter 203 – Sec. 12-71).

The assessment of a motor vehicle is 70% of its average retail value. Generally, assessors use average retail values that the National Automobile Dealer’s Association (NADA) compiles annually. Assessors are responsible for determining the value of any motor vehicle for which the NADA Guide does not provide an average retail value.

All motor vehicles a taxpayer owns on an assessment date are subject to taxation, regardless of whether the Department of Motor Vehicles issues a Connecticut registration for them. Taxes for such vehicles are due the following July 1.   Motor vehicles registered subsequent to October 1 are also subject to taxation. The assessment of a vehicle registered between October 2 and the following July 31, which represents only a portion of the assessment year, is included on a supplemental grand list. Supplemental grand list taxes are billed in January following the conclusion of the assessment year in which the registration of these vehicles occurs.

A property tax reduction or credit is available when a taxpayer sells a motor vehicle and does not replace it with another vehicle.  If a taxpayer replaces one vehicle with another, the assessor reduces the assessment of the replacement vehicle on the supplemental grand list to reflect the credit (Chapter 203 - Sec. 12-71b).

A property tax reduction or credit is also available for a vehicle which is sold, totally damaged, stolen or registered in another state. Taxpayers must claim this credit within the time period that state law prescribes (Chapter 203 - Sec. 12-71c).

In Prospect, motor vehicle bills become due annually on July 1^st and are payable in full on or before  August 1^st.  The tax bill you pay in July covers the billing period of October 1^st through September 30^th . Supplemental motor vehicle bills become due annually on January 1^st and are payable in full on or before February 1^st.  Supplemental motor vehicle payments cover from the month you registered the new vehicle through September 30^th.

If you have a question about your assessed value or if you sold, donated, gifted, junked, registered the vehicle out of state, or no longer own a vehicle, please call (203) 758-4461 and ask for the Assessor’s office.

Any taxpayer who owes a tax balance on more than three Grand List years or an amount of $1,000.00 or more will be turned over to the Marshal by means of an Alias Tax Warrant for collection.  The Marshal will charge the tax payer 15% of the total listed on the warrant as well as all costs and fees incurred in the collection of taxes.

If you are not sure whether you owe taxes or not, particularly if you purchased real estate within the past six months, PLEASE inquire at the tax office so we can provide you with a bill before it becomes delinquent. Non-receipt of a tax bill does not invalidate the tax nor eliminate the interest that must be charged for a late payment (CGS 12-130).

If you receive a tax bill from a town that you DID NOT RESIDE IN OR GARAGE YOUR VEHICLE IN as of October 1, 2022, contact the Assessor’s office to request a transfer to the correct Town / City of residency as of October 1, 2022.

For vehicles sold, stolen, donated, gifted or totally destroyed and the registration (marker plate) was not transferred to another vehicle, or if you have moved out of state, you may be eligible for a tax credit. To obtain a credit, you must furnish proof as required by the Assessor. Do not ignore the tax bill because you no longer have the vehicle.  Interest must be charged on any tax due that is not received on or before the last day to pay.

If you receive a bill for a vehicle that was replaced after October 1, 2022 and the registration (marker plate) was transferred to another vehicle, that bill is still due.  You will receive an automatic credit for the new vehicle on a supplemental bill in January 2024.

Any person owing delinquent motor vehicle taxes will be required to pay ALL DELINQUENT MOTOR VEHICLE TAXES before a release is issued for registering any vehicle with the Department of Motor Vehicles. There are no exceptions! If an immediate release is needed for registering, a cash payment must be made at the Tax Collector’s office. If you pay with a personal or business check, credit or debit card, or make a payment online, a DMV release will not be issued for 7-10 business days.

Questions regarding assessments on your real estate, personal property or motor vehicle bills should be directed to the Assessor’s office. You can contact that office by phone at 203-758-4461 or by email at [email protected].

Questions regarding payment of taxes should be directed to the Tax Collector’s office at 203-758-4461 during business hours or by email at [email protected] . Answers to many of your questions can be found on the Frequently Asked Questions page.