Orange is undergoing a 4 year phase-in based on the 2023 reassessment and grand list. This phase-in spans from the 2024-2025 tax year to 2027-2028 tax year.
The town will then be reassessed in 2027.
Click here for more information on phase-ins.
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 Town of Orange's tax collector lookup site.
Use the following steps to manually calculate your phase-in amount:
- Subtract the old assessment from the new assessment to calculate the difference:
Ex: $300,000 - $200,000 = $100,000
- 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
- Add the phased-in amount to your current assessment to calculate the New Assessment Amount:
Ex: $25,000 + $200,000 = $225,000
- 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:
-
-
- 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).
Comments
Please sign in to leave a comment.