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Minutes of Board of Assessment Appeals, 03/14/2019

AGENDA: Board of Assessment Appeals

RECEIVED 03/19/2019 1:52pm
Kathleen R. Miserendino - Redding Deputy Town Clerk

TOWN OF REDDING
BOARD OF ASSESSMENT APPEALS
REAL ESTATE APPEALS
Thursday, March 14, 2019
4:00 p.m.
TOWN HALL HEARING ROOM

Present:   Greg Stackpole, Chairman; Rick Miller; Margi Esten; Charles Bachmann, Alternate; Bill Miller, Alternate

The meeting was called to order at 4:12 p.m.
The purpose of the meeting was to hear appeals of property assessments for the 2018 Grand List and deliberate.

The Board entered deliberative session at 4:12 p.m.

215 Gallows Hill Road
Total Assessment $254,500

New Assessment                     $185,200
MOTION: Made by Mr. Miller, seconded by Ms. Esten that a 50% functional obsolescence be applied due to condition.  Carried unanimous.

 

22 Diamond Hill Road
Total Assessment $663,100

New Assessment                     $630,700
MOTION: Made by Ms. Esten, seconded by Mr. Stackpole to change the grade from A+ to A.  Carried unanimous.

 

123 Old Redding Road
Total Assessment $455,000

New Assessment                     $437,500

The Board confirmed with the Health Department the septic is rated for 4 bedrooms.

MOTION: Made by Mr. Stackpole, seconded by Mr. Miller that the bedroom count be corrected from three to four rooms and change the condition from very good to good.  Carried unanimous.

 

The Board exited deliberative session at 4:37 p.m.

The Board heard the following six appeals:

45 Chalburn Road
Total Assessment                                                                    $435,200

Appellant’s Opinion of Fair Market Value on October 1, 2017                     $726,000

Appellant indicated that the property is currently on the market for $720,000 and has been since July 2017.  The property is on Umpawaug pond and has a dock with swimming ladder.  There are some trees that need to be removed.  There is an attic with stair access but it is where the A/C unit is located.

 

45 Chalburn Road – MV supplemental
2006 VW Rabbit

Total Assessment                                                                    $3,310

Appellant’s Opinion of Fair Market Value on October 1, 2017                     $2,200

Appellant noted that vehicle has approximately 88,000 miles.  The dealership noted the value to be approximately $2,500.

 

4 Mallory Lane
Total Assessment                                                                    $417,200

Appellant’s Opinion of Fair Market Value on October 1, 2017                     $470,000

Appellant provided an appraisal with value of $512,000 from March 2018, from the time of purchase.  Appellant noted that the purchase price was more than neighboring properties that have higher market values.  Comparable listings in the same condition at the time of purchase were provided.

 

5 Mark Twain Lane
Total Assessment                                                                    $522,300

Appellant’s Opinion of Fair Market Value on October 1, 2017                     $550,000

Appellant provided an appraisal with value of $550,000 and noted the property is 32 years old with no improvements since it was built and does not warrant an A rating.  Information on five comparable properties were provided that were lower in tax assessments but higher in value, square footage, and other features.  The house is on the market and has had offers but the high assessment / high tax rate has been an obstacle.

 

1 Meadow’s Edge
Total Assessment                                                                    $935,200

Appellant’s Opinion of Fair Market Value on October 1, 2017                     $1,050,000

Appellant provided an appraisal from December 2017 with a value of $1,100,000.  An addendum with comparable listings with details and features of each listing was provided and discussed with the Board.  It was noted that in comparison this property has a disproportionate tax burden.  The property has been on the market since January 2018 and offers were received in the low $800Ks.

 

3 Peaceable Street
Total Assessment                                                                    $397,300

Appellant’s Opinion of Fair Market Value on October 1, 2017                     $425,000

Appellant noted the assessment on the property is too high and provided an appraisal from September 2017 with a value of $425,000.  The property was purchased for $365,000 in foreclosure.  There is a difference in square footage from the field card at 2,770 versus the appraisal at 2,650.  There have been virtually no improvements on the property.

 

The Board entered deliberative session at 5:40 p.m.

 

5 Mark Twain Lane
Total Assessment $522,300

New Assessment                     $439,000
MOTION: Made by Ms. Esten, seconded by Mr. Miller to change the grade from A to B and the depreciation condition from Good to Average.  Carried unanimous.

 

4 Mallory Lane
Total Assessment $417,200

MOTION: Made by Mr. Bachmann, seconded by Mr. Miller that no change be made to the assessment.  Carried unanimous.

 

3 Peaceable Street
Total Assessment $397,300

MOTION: Made by Mr. Stackpole, seconded by Mr. Miller that the Assessor re-measure the square footage of the house, particularly the cathedral breakout and value accordingly.  Carried unanimous.

 

41 Chalburn Road – MV Supplemental
2006 VW Rabbit

Total Assessment  $3,310

New Assessment                     $2,975

MOTION: Made by Mr. Miller, seconded by Mr. Stackpole that the assessment be lowered to $2,975 based on the current valuation book.  Carried unanimous.

 

41 Chalburn Road – property
Total Assessment  $435,200

MOTION: Made by Mr. Stackpole, seconded by Mr. Miller that no change be made to the assessment.  Carried unanimous.

 

The Board exited deliberative session at 6:03 p.m.

 

The following six appeals were heard:

24 Old Hattertown Road
Total Assessment                                                                    $519,100

Appellant’s Opinion of Fair Market Value on October 1, 2017                     $480,000

The Appellant indicated that the property was recently purchased for $444,000.  An appraisal in June 2018 noted a value of $480,000.  The property is a colonial with a finished basement.  There is a pool but the condition is unknown as it has not been opened as yet.

 

163 Old Redding Road
Total Assessment                                                                    $639,200

Appellant’s Opinion of Fair Market Value on October 1, 2017                     $810,000

Appellant purchased the property for $810,000 in May 2018.  In March of 2018 it was appraised at $850,000.

 

51 Olmstead Road – MV Supplemental
2003 Acura MDX

Total Assessment                                                                    $4,690

Appellant’s Opinion of Fair Market Value on October 1, 2017                     $2,250

Appellant noted the vehicle has very high mileage at 197,000 and feels the assessment is based on clean trade in value.  The car is in poor condition.  From discussion with the Board it was noted that this was not a Supplemental assessment.

 

51 Olmstead Road – property
Total Assessment                                                                    $221,300

Appellant’s Opinion of Fair Market Value on October 1, 2017                     $270,000

Appellant noted that there was a large tax increase as a result of the most recent revaluation.  Smaller houses in town had larger increases versus larger homes.  The overall condition of the home is listed at 80 which is higher than the neighboring properties with similar grades and conditions.  The kitchen and bath are original.

 

22 Goodridge Road
Total Assessment                                                                    $760,300

Appellant’s Opinion of Fair Market Value on October 1, 2017                     $680,000

Appellant purchased property September of 2016 in a short sale for $687,000.  The property has a non-traditional floor plan.  There are 2.63 acres most of which are unusable.  The property is graded too high.  The number of fireplaces on the field card are inaccurate; the correct count is two.  Photos were provided that showed deterioration.

 

169 Picketts Ridge Road
Total Assessment                                                                    $600,000

Appellant’s Opinion of Fair Market Value on October 1, 2017                     $740,000

Appellant purchased the property in July 2017 for $820,000 and notes that it was overpriced at the time and believes the value to be $740,000.  There was no appraisal done at the time.  The house was built in 2000 by a home-builder by trade but the condition and quality was not as expected; the home inspection had revealed rotting wood trim.

 

A motion to adjourn was made, seconded and carried unanimously at 7:50 p.m.

Submitted by Krista Gramer, 3/19/19

Minutes not approved by BAA.