HARTFORD — Property values soared after the first town-wide reappraisal in eight years, leaving some homeowners baffled.
On May 2, town officials mailed all Hartford property owners a notice of the new value of their property. On average, values went up 86% since the last appraisal in 2017.
“It’s been a fair number of years and as we all know, COVID had a real impact on Vermont real estate,” Town Manager John Haverstock said in a phone interview Tuesday.
In 2021, more than 14,500 people moved to Vermont, according to U.S. Census Bureau data. There are indications that that growth may continue. The Vermont Housing Finance Agency estimates that the state needs up to 36,000 additional year-round homes between now and 2029 to meet demand.
Haverstock also chalked up the increased values to the higher cost of constructing homes, at least in part to hikes in material and labor costs. “It’s a confluence of several factors,” he said.
Hartford contracted with the Texas-based Tyler Technologies to perform the revaluation. The use of online data and aerial imagery reduced the need for on-site visits and saved taxpayers approximately $300,000, according to the town’s website. Still, Tyler Technologies employees visited about 800 properties in person.
Although the process is not over yet, the Selectboard has approved approximately $306,000 to allocate to the reappraisal so far, said Cristina Tardie, assistant assessor for the town.
As of this year, under a law passed in 2023, the state requires municipalities to conduct reappraisals every six years. A major benefit to regular reappraisal is “equity and fairness” since a resident’s tax bill should now be more reflective of the actual value of their property, Haverstock said.
But some residents don’t see their new home values that way. About 240 residents scheduled grievance hearings to challenge their revaluations.
Among them is White River Junction resident Edward Bradley, who said the current housing market “doesn’t justify” the 56% increase in value he and his wife, Marie-Helene, saw on their home on Neal Road, which intersects with North Hartland Road near the town’s recycling center.
“I understood my protest would not make any difference but I wanted it to be on record,” Bradley, 89, said in a phone interview. “I simply wanted to raise a question about the excessive nature of the increase.”
Although the couple has lived in their home for 52 years, as they’ve aged, they’ve considered selling the 1¾ story, Cape Cod-style house, now valued at $556,400. “I’d never dream to ask for that,” Bradley said.
Bradley, like many others who took to social media and the Hartford Listserv to express themselves, is concerned about what this could mean for his tax bill.
However, town officials have made it clear that the tax rate will be adjusted to reflect the new value of the town’s grand list which is now $26.2 million, but could change after grievance hearings.
That’s an 85% hike from last year’s grand list of $14.2 million.
“The same goal exists that has always existed,” Haverstock said. “We simply need to raise the money the voters have approved for the general fund. Tax rates will go down by a comparable proportion.”
In March, voters approved a town budget of $22.47 million, of which about $17.21 million is expected to come from taxes. This is up $1.07 million from last year.
Grievance hearings will continue through Friday, May 30 with a goal of setting the new tax rate in July. The first installment of property taxes are due Aug. 15.
Emma Roth-Wells can be reached at erothwells@vnews.com or 603-727-3242.
