Every five years Connecticut revaluates property values affecting PA 490 town-wide assessments to reflect current-use values.

The new value going into effect October 1 is $200/acre. This is a decrease from the 2020 recommended value of $390/acre and 2015 valuation of $240/acre. Forest landowners may not see a decrease in their valuation until their town goes into revaluation which often does not coincide with the release of the new values.

Real property classified as farm, forest, and maritime heritage is eligible. For forest land, the assessment is intended to represent the value of one acre of standing trees (stumpage) on an average woodlot in Connecticut.

Valuation draws on three main components:

The most recent USDA Forest Service Forest Inventory and Analysis  data.

Data from the Southern New England Stumpage Price Reports as well as a UCONN stumpage survey

A capitalization rate which includes the Farm Credit East average borrower interest rate for the last five years with additional adjustments from loan to value ratios and risk assessment.

For more information, call 860-424-3650 or [email protected].