Norwalk phase-in (starting 2024)

On February 29, 2024, the City of Norwalk finalized a revaluation of all taxable property. By state statute, this was required to be a full physical revaluation. The results were reflective of a strong, post-pandemic residential housing market and a relatively flat to down commercial market. Overall, values were up an average of 35% citywide.

After a lengthy and detailed analysis, the Mayor and City Boards made the decision to phase in the revaluation to mitigate the impact of the tax increases to residential property owners.

This phase in will take place over the next four fiscal years, beginning in July 2024. Fiscal year end 2025 will be the first year of this four year process.

If you are entering a listing that is within a town currently undergoing a phase-in, you must enter the phase-in tax and assessment amounts from the current tax bill in their respective fields:

Click here to access the City of Norwalk's tax collector lookup site.

Use the following steps to manually calculate your phase-in amount:

1. Subtract the old assessment from the new assessment to calculate the difference:
   Ex: $300,000 - $200,000 = $100,000
    
2. Divide the difference by the number of years of the phase-in (4) to get the Phased-In Amount:
   Ex: $100,000 / 4 = $25,000
    
3. Add the phased-in amount to your current assessment to calculate the New Assessment Amount:
   Ex: $25,000 + $200,000 = $225,000
    
4. Repeat step 3 for each year of the phase-in to calculate that year's new assessment amount.

Based on the example above, the phase-in assessments by year are:

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  •  
    • Year 1 = $225,000
    • Year 2 = $250,000
    • Year 3 = $275,000
    • Year 4 = $300,000

This formula applies for all 4 years of the phase-in (unless there are changes made to the property).