The Assessor would like to inform residents of the following important dates and deadlines. All forms and proofs unless noted must be filed by October 1st in the Assessor's office located at the Town Hall. Any questions in regard to the following exemptions and benefits please contact our office.
The assessment date of taxable property for the Town of Old Lyme is October 1st of each calendar year. The 2021 Mill Rate is 23.50. Mill Rate information for the 2022 list will be determined after the Town Budget meeting.
Per Connecticut State Statute Section 12-62(b) Revaluations of Real Property occur every five years, our town-wide revaluation was conducted on October 1, 2019 our next town wide full revaluation is 2024.
Income & Expense Filings
Section 12-63c (d) of the Connecticut General Statutes requires any owner of income-producing real property to file an Income and Expense Report annually no later than the close of business on June 1st. This includes owners of real property that is rented or leased, including commercial, retail, industrial and residential property. Please note there is no postmark provision to this statute and all late filings will be subject to a 10% penalty to be applied to the property assessment.
Exempt from this filing are totally residential properties of six units or less in which the owner resides and all residential properties of three units or less. All residential properties with partial business use are required to file unless totally occupied by the owner. Commercial and Industrial properties totally owner-occupied are also exempt.
If a non-residential property is partially rented and partially owner-occupied this report must be filed. Forms can be found beginning April 1st of each year on the Downloadable Forms page or through the Assessor's office.
Quadrennial Filing for Tax-Exempt Entities
2025 Quadrennial filing requirement for exemptions granted under CGS 12-81 (7), (10), (11)
Quadrennials will be mailed for those that are to be exempted under Section12-81 (7), (10) and (11) for the 2025 Grand List. Forms will be mailed in August to entities currently receiving exemptions and are due to the Assessor's office in their entirety no later than November 1, 2024. Forms for new applicants of updates to current applications are available on the Downloadable Forms page or through the Assessor's office.
Quadrennials for those that are to be exempted under 12-81 (16) will be due for the 2023 Grand List.
Per Section 12-41 of the Connecticut General Statutes owners of tangible Personal Property, other than registered motor vehicles, such as commercial furniture, machinery and equipment, leased equipment, unregistered motor vehicles, camp trailers, etc. are required to file a personal property list with the Assessor. Declarations are required to be filed annually during the month of October. Failure to file prior to November 1 forces the Assessor, by law, to file the list and add a 25% Penalty (Section 12-42, PA 87-245)
Totally Disabled Persons
Totally disabled persons are entitled to an exemption if they meet the requirements of Section 12-81(55) of the General Statutes, Please contact our office for definitions and acceptable forms of proof.
Any individual who is blind is entitled to an exemption under Section 12-81(17) and shall provide proof to the Assessor.
To qualify for any of the applicable exemptions under Section 12-81 Veterans must have filed Honorable Discharge (DD214) in the Town Clerk's office by September 30th. Veterans must have served during a time of War as defined in (Section 27-103)
Section 12-81 (g) & (i) provides for an increase in the property tax exemption amount granted to a qualified Veteran if certain income requirements are met. Disabled Veterans are eligible for an exemption in addition to the regular exemption with the filing of a disability rating from the Veterans Administration.
Active Duty Service Members
Under the Federal Servicemember Civil Relief Act persons on active duty must present to the Assessor a current earning and leave a statement or a letter from their Commanding Officer along with a yearly application for exemption. Any Service member on active duty claiming Connecticut as their legal residence must file prior to December 31st.
PA490 - Farm, Forest & Open Space
Property owners interested in claiming land as a farm, forest, or open space should file an application between September 1st and October 31. The only exception is during a revaluation year, when the deadline is extended to December 30th. No other extension of this filing period is available, failure to file within the prescribed time is a waiver of the right to the classification for the assessment year commencing October 1st. For more information on PA490 please visit the Connecticut Farm Bureau website.