LISBON — The town is about halfway through its four-year, townwide revaluation, its first since 1989.
Although the town hasn't fully revalued property in more than 20 years, Town Manager Stephen Eldridge said assessed home values aren't far from expectations.
"Residential properties seem to not be too much out of line," he said. "(The assessor is) picking up a few things here and there — nothing major."
However, assessments on business properties have found some issues.
"Commercial property is a little bit different," Eldridge said. "He's made adjustments on several larger properties. We've been anticipating adjustments and we've had some drop in value over the last two years, which impacts, of course, our tax rate. This year we had some gains in valuation. But we're stabilizing. That's what we've been trying to gain, to get the property values in line with where they should be."
The town contracted with William Van Tuinen Tax Assessment Services to complete the revaluation. The Madison-based firm is owned by Van Tuinen, who is contracted to serve as town assessor.