Annual Income & Expense Report forms for calendar year 2007 were mailed on April 17, 2008 to owners of commercial and industrial property. The information received in these reports is used in assisting the Town of Manchester with establishing market rents, vacancy rates and typical operating expenses for use in the assessment of income-producing or rental property. Connecticut General Statutes Section 12-63c, as amended by P.A. 97-254 requires all owners of rental property to annually file these forms with the Assessor by June 1 (Monday, June 2, 2008.) If you received an Income & Expense form and your property is completely owner-occupied or vacant do not disregard the form - indicate "Owner Occupied" or "Vacant for 2007" in writing on the form and sign, date and return it to the Assessor's Office by the June 2 deadline.
This year's form is for the reporting of income and expense data for the 2007 calendar year. For further information about the valuation of income-producing property and answers to "Frequently Asked Questions," click here for a brochure.
In accordance with Section 12-63c(d) of the Connecticut General Statutes, as amended, any owner of rental real property who fails to file this form, or files an incomplete or false form with intent to defraud, shall be subject to a penalty assessment equal to a ten percent (10%) increase in the assessed value of such property.
All information reported on these forms will remain confidential, is not open to public inspection, and is not subject to the provisions of Section 1-19 (Freedom of Information) of the Connection General Statutes.
Each year, the Town of Manchester penalizes a number of property owners who fail to file completed Income and Expense Reports. Although the number of people penalized each year is very small (approximately 1.5% penalization rate for the last five years,) we have no desire to penalize anyone. The Assessor's Office has been very proactive over the years at giving extensions of the filing deadline, sending a minimum of three written notices to those who did not file on time and, prior to two years ago, even faxing and placing phone calls to individual property owners as the deadline approached. While we can no longer commit to this level of outreach, we will still grant extensions to anyone who requests one in writing, but this year we ask that all requests for extensions be made no later than May 15, 2008, and that no request be made for an extension deadline of more than 30 days. If you need to obtain a copy of last year's Income and Expense Report, it can be provided to the person who completed the form last year. However, since last year's forms are currently being used for market analysis, it may take up to three days to obtain a copy if needed.
If you have any questions concerning these forms or the information required, please call the Assessor's Office at (860) 647-3012.