DOVER – Property owners in the city should be receiving this week – if they haven’t already – notices of changes to their assessed valuations.
The notices were sent out as part of the city’s “annual statistical update” for the 2020 tax year (fiscal year 2021), City Manager Michael Joyal said Monday.
“The city’s total assessed value has grown by 5.4 percent, a nearly $200 million overall increase, to $3.901 billion,” from the previous fiscal year,” Joyal said in a memo to the City Council. “This increase in assessed value has resulted from both the addition of new construction and continuing property appreciation driven by real estate market activity.”
New construction in Dover “accounted for nearly ¼ of the growth in overall assessed value or $46 million,” Joyal said.
But ¾ of the growth in value or $154 million resulted from “appreciation in property values as derived from actual recorded