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Greenwich Real Estate Report: Nov 5-Nov 12, 2021 – Greenwich Free Press

Everyone should have received their updated assessment this week. I received several calls and messages from people asking questions about their assessments, what this means for their taxes, and whether or not they should appeal. Many people think that if your assessment goes up that your taxes will automatically go up as well. This is not necessarily the case. The tax assessor’s office does a great job explaining this, here is a brief summary.

The assessments are based on recent sales of similar homes in your neighborhood. They use the stats from your tax card, square footage, number of bedrooms, number of bathrooms, age of the house, amount of land, etc., and estimate what your total appraised value is. Your taxes are based on 70% of the total appraised value which is called your assessment. Once they calculate all of the personal property values in town, they then have what is called the grand list which is the total amount that will be taxed. For reference, in 2020 the grand list was $33,696,865,712. This includes all real estate, motor vehicles, and business personal property. Interesting fact, this also includes horses! If you own a horse that’s worth more than $2000 and keep it in Greenwich, you are taxed on its value. Using that grand list, the town determines what the mill rate will be according to how much money they need to fulfill the budget. The mill rate fluctuates and it very well may go down this year in order to keep our taxes low.

From both the CT.gov and the town of Greenwich websites:

What is a mill rate? A mill is equal to $1.00 of tax for each $1,000 of assessment. To calculate the property tax, multiply the assessment of the property by the mill rate and divide by 1,000. Property tax rates are expressed in Mills, or thousandths of a dollar. A property tax rate of 7.500 mills, .0075 expressed in decimal form, or .75% expressed as a percent of assessed value, results in the payment of $7.50 for each $1,000 of the properties assessed value. The Board of Estimate and Taxation sets the mill rate in May of every year in time for the July tax billing. For additional info: click here to check out the FAQ section of the Greenwich town web page on assessments.

Should I appeal my assessment? There are different opinions on this, but I personally would not appeal unless you feel that your house would sell for less than the total appraised amount determined by the town.

How do I know what my house is worth? You can compare your house to similar homes in your neighborhood that have sold recently, this is called looking at comps, but if you’re unsure as to how to determine the true value of your home, you can contact a professional to help you. You can call an experienced agent or an appraiser. Feel free to reach out to me if you’d like my help or a referral to a licensed appraiser. Both can help you determine the value of your home as well as help you with the appeal process.

If you feel an appeal is warranted, you need to contact Tyler technologies at 1- 877-895-9675 before Jan. 5, 2022.

New listing – 222 Riverside Avenue, Riverside

There are 38 public open houses this weekend. Please bring a mask to wear upon request.

Please click HERE for the most up-to-date open house list.

Street # Street Name Unit # Street Suffix City Original List Price List Price Agency Name List Date
33 Ballwood Road Old Greenwich $3,995,000.00 $3,995,000.00 Berkshire Hathaway N.E. Properties (BHHS01) 11/12/21
87 Indian Field Road Greenwich $1,250,000.00 $1,250,000.00 Berkshire Hathaway N.E. Properties (BHHS01) 11/11/21
27 Putnam Park 27 Greenwich $525,000.00 $525,000.00 Sotheby’s International Realty (SOTH01) 11/11/21
89 Florence Road Riverside $1,350,000.00 $1,350,000.00 Compass Connecticut, LLC (COMP01) 11/10/21
12 Cross Street Greenwich $879,000.00 $879,000.00 Houlihan Lawrence (HLAW02) 11/10/21
16 Pilgrim Drive Greenwich $749,000.00 $749,000.00 William Raveis Real Estate (RAVE01) 11/10/21
122 Sheephill Road Riverside $1,995,000.00 $1,995,000.00 William Raveis Real Estate,Inc (RAVE04) 11/10/21
29 Stanwich Road Greenwich $3,495,000.00 $3,495,000.00 Douglas Elliman of Connecticut LLC (ELLI01) 11/10/21
746 Lake Avenue Greenwich $1,900,000.00 $1,900,000.00 Berkshire Hathaway N.E. Properties (BHHS01) 11/8/21
16 Grant Avenue Old Greenwich $3,995,000.00 $3,995,000.00 Sotheby’s International Realty (SOTH01) 11/8/21
8 Hillside Drive Rock Ridge Greenwich $5,195,000.00 $5,195,000.00 Houlihan Lawrence (HLAW01) 11/5/21
45 Sound Beach Avenue Old Greenwich $1,395,000.00 $1,395,000.00 Houlihan Lawrence (HLAW02) 11/4/21
10 Cary Road Riverside $949,000.00 $899,000.00 Douglas Elliman of Connecticut LLC (ELLI01) 11/3/21
25 Greenbriar Lane Greenwich $2,950,000.00 $2,950,000.00 Sotheby’s International Realty (SOTH01) 10/25/21
37 Davenport 2 Avenue Greenwich $2,350,000.00 $2,350,000.00 Compass Connecticut, LLC (COMP01) 10/21/21
11 Rex Street Greenwich $749,000.00 $749,000.00 Brown Harris Stevens CT, LLC (BROW01) 10/21/21
41 Butler Street Cos Cob $1,375,000.00 $1,375,000.00 Sotheby’s International Realty (SOTH01) 10/11/21
37 Davenport 3 Avenue Greenwich $2,150,000.00 $1,999,999.00 Compass Connecticut, LLC (COMP01) 10/8/21
9 Stallion Trail Greenwich $2,499,000.00 $2,499,000.00 Coldwell Banker Realty (COBA01) 9/29/21
89 River 304 Road Cos Cob $2,895,000.00 $2,895,000.00 Sotheby’s International Realty (SOTH01) 9/27/21
89 River 305 Road Cos Cob $2,995,000.00 $2,995,000.00 Sotheby’s International Realty (SOTH01) 9/27/21
17 Maple Drive Old Greenwich $740,000.00 $740,000.00 Compass Connecticut, LLC (COMP01) 9/22/21
10 Sherwood Farm Lane Greenwich $4,600,000.00 $4,600,000.00 Sotheby’s International Realty (SOTH01) 9/17/21
118 Putnam Park 118 Greenwich $520,000.00 $520,000.00 Coldwell Banker Realty (COBA01) 9/16/21
125 Pilgrim Drive Greenwich $995,500.00 $970,500.00 William Raveis Real Estate (RAVE01) 9/13/21
35 Greenwich Hills 35 Drive Greenwich $837,000.00 $800,000.00 Brown Harris Stevens CT, LLC (BROW04) 9/1/21
86 Howard Road Greenwich $2,150,000.00 $1,850,000.00 William Raveis Real Estate,Inc (RAVE04) 8/5/21
36 Mianus View Terrace Cos Cob $1,625,000.00 $1,575,000.00 Berkshire Hathaway N.E. Properties (BHHS01) 8/4/21
62 Sherwood Avenue Greenwich $5,100,000.00 $5,200,000.00 Coldwell Banker Realty (COBA01) 8/2/21
123 Dingletown Road Greenwich $5,000,000.00 $4,800,000.00 Coldwell Banker Realty (COBA01) 7/29/21
13 Chieftans Road Greenwich $3,495,000.00 $3,350,000.00 Berkshire Hathaway N.E. Properties (BHHS01) 6/4/21
10 MacArthur Drive Old Greenwich $1,089,000.00 $1,049,000.00 Miha Zajec (MIHA01) 6/1/21
75 Perkins Road Greenwich $6,295,000.00 $6,295,000.00 Houlihan Lawrence (HLAW01) 5/24/21
1 North Street Greenwich $3,095,000.00 $3,095,000.00 Berkshire Hathaway N.E. Properties (BHHS01) 5/24/21
107 Maple Avenue Greenwich $4,795,000.00 $4,495,000.00 Berkshire Hathaway N.E. Properties (BHHS01) 5/17/21
55 Burning Tree Road Greenwich $2,325,000.00 $1,995,000.00 Compass Connecticut, LLC (COMP01) 5/10/21
8 Tomac Avenue Old Greenwich $2,995,000.00 $2,500,000.00 Coldwell Banker Realty (COBA01) 11/6/20
78 Pecksland Road Greenwich $11,500,000.00 $7,995,000.00 Coldwell Banker Realty (COBA01) 10/23/20
Stefanie Lacoff is a licensed real estate agent with Berkshire Hathaway Home Services New England Properties in Greenwich, CT.
Contact Stefanie for assistance selling your home or purchasing a new one. Text/call: 203-536-9403, email: [email protected]
stefanielacoff.bhhsneproperties.com

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