Open Book – April 7, 2021 12:00 pm – 7 pm
Board of Review – May 19, 2021 6 pm – 8 pm
The Town of Fulton performs a revaluation of all property annually. This means that all property in the Town will be reviewed then assessed to fair market value every year. This assessment process is called Full Value Assessments.
State law requires each municipality to be within 10% of market value. When property is revalued annually it ensures smaller adjustments each year, instead of a large increase or decrease in value only when a revaluation is required by law.
What is fair market value? The Fair Market Value is the price a property would sell for on the open market. It is determined by reviewing valid sales between a willing buyer and a willing seller.
Does the Town get more tax revenue by performing a revaluation annually? No, there are no additional revenues collected when property is revalued. An annual revaluation ensures that all property owners pay their fair share of taxes and the municipality complies with state law.
If you have further questions about how Full Value Assessments work please contact the assessor at: firstname.lastname@example.org or call 1-800-770-3927.