In the mythical Vermont town of Bayer there is a residential property that was built in 1969. The Town of Bayer inspected the property in the winter of 2007 for its town-wide reappraisal. The records show that the property did not have any deferred maintenance. The owner reported that the oil boiler was original. She also stated that the roof needed to be replaced but she could not afford it. The field inspection reported that the kitchen and the baths were dated.
The property has an assessment of $185,000, the same as the 2008 reappraisal. The property was sold in July 2008, a few months after the 2008 reappraisal date, for $182,000. Today, the Bayer Assessor/Listers became aware that the property is listed for sale for $274,000. It is listed on Zillow.com with a description that states that the home has been completely gutted and remodeled with many built-ins and a new kitchen with granite counters. There are interior and exterior photos in the Zillow listing that show the like new condition of the home. The Bayer zoning regulations do not require permits for work that does not change the building foot print.
What, if anything, should the Bayer Assessor/Listers do with the Zillow information for this property?