Assessed Values In Groton Likely A Mixed Bag

In mid November, homeowners and businesses in Groton will start receiving their new property assessments from Tyler/CLT, which is completing the revaluation for the town.

Assessor Mary Gardner said data is still being compiled, so it's too early to know how the town did overall. But a snapshot of sales in neighborhoods are mixed and vary by neighborhood or even street.

Some neighborhoods, like Groton Long Point, showed an increase in values from the last time they were assessed in 2006. Other neighborhoods, like Bailey Hill, showed the majority of homes sold during the last three years sold for less their than previous appraised values.

Donna Morrissette, who attended a public information session on the revaluation, said she believes assessors should consider short sales and foreclosures in additional to regular sales, because houses are not selling for what they're worth.

She and her husband live at 166 Cedar Road, one driveway away from a house that sold for $850,000 in January 2010, almost $200,000 more than it's appraised value in 2006.

Further down on the same street, the house at 256 Cedar Road sold in May 2010 for $843,000, well below its appraised value of $1 million in 2006.

"There's no rhyme or reason for how this works," Morrissette said. She's a retired X-ray technician; her husband worked at Electric Boat and is also retired. They bought their house about 12 years ago for $230,000, she said.

Debra Christy, project manager of the Groton revaluation for Tyler/CLT, told taxpayers during the informational meeting that the company looked at property sales from 2009 through September 2011 and visited homes to come up with the residential assessments. Assessments represent 70 percent of a home’s fair market value.

“The sales show us what the values are doing,” she said, adding, “We are just again trying to accomplish a fair and equitable distribution of property taxes.”

If a resident disagrees with an assessment, the property owner may schedule an appointment for an informal review with a representative of Tyler/CLT. Appointments will be available from 10 a.m. until 6 p.m. during November in the Town Hall Annex. If the homeower is still not satisfied, the property owner may appeal to the Board of Assessment Appeals in March 2012, after the grand list has been signed and finalized.

A snapshot of some home sales reviewed by Tyler/CLT, by neighborhood, is listed below:

Bailey Hill 

136 Military Highway, sold Feb. 3, 2010 for $325,000. Appraised value in 2006: $411,00.

65 Riverview Avenue, sold May 25, 2011 for $172,500. Appraised value in 2006: $217,900.

10 Pegasus Drive, sold Sept. 6, 2011 for $180,000. Appraised value in 2006: $245,000.

Center Groton

15 Providence Court, sold May 25, 2011 for $120,000. Appraised value in 2006: $150,200.

6 Maxon Road, sold July 21, 2010 for $160,300. Appraised value in 2006: $210,700

465 Toll Gate Road, sold July 25, 2011 for $207,000.  Appraised value in 2006: $259,200.

Eastern Point 

27 Tyler Avenue, sold May 24, 2011 for $850,000. Appraised value in 2006: $1,245,300.

156 Shennecossett Parkway, sold Dec. 29, 2010 for $451,500. Appraised value in 2006: $415,500.

26 Westwood Drive, sold Oct 22, 2010 for $312,000. Appraised value in 2006: $233,100.

Groton City

210 Mitchell Street sold on Nov. 18, 2010 for $143,900. Appraised value in 2006: $174,600.

108 Benham Road sold on March 25, 2011 for $191,200.  Appraised value in 2006: $263,500.

75 West Street sold on April 7, 2010 for $318,800.  Appraised value in 2006: $272,800.

Groton Long Point 

240 West Shore Avenue sold on Jan 11, 2011 for $658,500. Assessed value in 2006: $596,600.

29 Crescent St. sold on Sept. 16, 2011 for $730,000. Appraised value in 2006: $530,200.

56 Atlantic Avenue sold on Sept. 13, 2010 for $545,000. Appraised value in 2006: $485,700.

Mumford Cove

278 Neptune Drive sold on May 26, 2011 for $440,00.  Appraised value in 2006: $476,600.

1015 Groton Long Point Road sold on March 3, 2010 for $540,000. Appraised value in 2006: $645,600.

30 Bass Drive sold on Aug. 16, 2010 for $410,000. Appraised value in 2006: $503,800.

Mystic

509 New London Road sold on July 22, 2011 for $220,000. Appraised value in 2006: $275,800.

21 High Meadow Lane sold on Dec. 18, 2009 for $457,500.  Appraised value in 2006: $574,000.

159 Ensign Drive sold on Oct. 15, 2010 for $449,900.  Appraised value in 2006: $387,700.

Mystic Village

48 Pequot Avenue sold on May 31, 2011 for $410,000.  Appraised value in 2006: $387,400.

710 Noank Road sold on June 30, 2011 for $703,675.  Appraised value in 2006: $790,100.

158 High Street sold on Oct. 29, 2010 for $690,000.  Appraised value in 2006: $648,900.

Noank

122 Seneca Drive, sold on June 15, 2011 for $307,500.  Appraised value in 2006: $280,300.

329 Brook Street sold on Feb. 8, 2011 for $261,500.  Appraised value in 2006: $361,300.

593 Fishtown Road sold on June 21, 2010 for $504,000. Appraised value in 2006: $474,300.

Noank Village

26 Hadley Court, sold Oct. 20, 2009 for $340,000.  Appraised value in 2006: $363,600.

17 Main St., sold March 7, 2011 for $347,000. Appraised value in 2006: $485,300.

40 Cedar Lane, sold Aug. 26, 2011 for $527,000. Appraised value in 2006: $625,300.

North West

23 Gallup Street sold on June 7, 2011 for $180,000. Appraised value in 2006: $245,500.

163 Great Brook Road sold on Feb. 16, 2010 for $315,000.  Appraised value in 2006: $295,700.

268 Briar hill Road sold on June 3, 2010 for $257,000.  Appraised value in 2006: $243,500.

Old Mystic

309 Pequot Avenue sold on July 12, 2010 for $475,000. Appraised value in 2006: $442,600.

57 Hunting Ride Drive sold on April 27, 2011 for $243,300. Appraised value in 2006: $266,700

83 Yetter Road, sold on June 2, 2010 for $245,000. Appraised value in 2006: $235,500.

River Road

37 Boulder Court sold on Aug. 16, 2010 for $295,000. Appraised value in 2006: $358,600.

126 Route 27 sold on Oct. 30, 2009 for $375,000. Appraised value in 2006: $308,400.

1315 River Road sold on Aug. 18, 2010 for $250,000. Appraised value in 2006: $520,900.