Tim Durkin, Town of Inlet Assessor, has announced that the preliminary equalization rate for the town is currently at 99.08 percent, and that there is no need for Inlet to conduct a revaluation.
Durkin said that the last time Inlet had a revaluation done was in 2008.
“The equalization rate is something the state does. It is basically the ratio of the assessed value, divided by the full market value of all of the properties in town, which would be commercial, residential, vacant land, and state owned land,” Durkin said. Continue reading