Q: HOW DO I CALCULATE MY REAL ESTATE TAXES?

A: THE FAIR MARKET VALUE IS MULTIPLIED BY 70%, WHICH EQUALS THE ASSESSMENT. THE ASSESSMENT IS THEN MULTIPLIED BY THE TAX RATE TO DETERMINE THE TAXES. IN OTHER WORDS, FAIR MARKET VALUE X 70% = ASSESSMENT X TAX RATE = TAX BILL

E.G., $100,000 X .70 = $70,000 X .02515 = $1,761 (REAL ESTATE TAXES ARE ROUNDED TO THE NEAREST DOLLAR IN NORWALK)

*THIS ASSUMES THAT ASSESSMENT INCREASES ARE NOT BEING PHASED IN.