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Newington News

Posted on: April 3, 2020

Income & Expense Reports

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Pursuant to Connecticut General Statutes, all owners of income producing properties are required to file the annual Income & Expense Reports to the Town Assessor on or before June 1.

This year, the Town of Newington is conducting its five-year state required revaluation of all real property, effective October 1, 2020. As an income producing rental property, your new revised property value will be based on the income approach so the requested data in this report is most important than ever.

Individual forms have been mailed by the Town Assessor to all known owners based on last year’s filings. All income that is derived from the property, all relative expenses incurred to maintain the property and a list of all tenants and associated lease information are required to be reported on the form. Additionally, as was done last year, the Town Assessor is again requesting that a supporting document from the owners federal tax return be submitted which verifies the figures reported on the Income & Expense form.

Copies of the Income & Expense form available for downloading & printing along with complete instructions can be found on the the Town Assessors page of the Town of Newington website.

Any questions regarding this submission, should be directed to the Town Assessor’s office at (860) 665-8530 or email at skosofsky@newingtonct.gov.

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