One House Sold on March 29

A Blanket Meadow Road home is now off the market.

Glenn D. Engel sold his house at 65 Blanket Meadow Road to Debra K. Sands for $565,000 on March 29.

KikiMoon April 05, 2012 at 07:22 PM
Zoo, forgive me for not knowing but, what does the 70% mean exactly? It looks like the sellers made about 100G's. Just trying to understand how this works. Thanks : )
Big Boy April 05, 2012 at 08:38 PM
70% of the value is the value that the mill rate is based on or what determines how much tax you will pay. If it sold for $564,000.00, multiply that by .70 or 70% to get the assessed value of $394,000. This is less than the current value of $399,500.00, so the new owners are paying more in taxes than they should, but we all are. All assessed values in this town are way overstated. The markets have lost value it only becomes apparent when the homes are sold. Assessed value has nothing to do with the value of the home. A home is only worth what someone is willing to pay for it. The new homeowner should go to town hall and get an adjustment to their assessed value. Any good lawyer should have gone to town hall to look at this prior to the closing.
KikiMoon April 05, 2012 at 10:56 PM
Thanks for that Big Boy. I've lived in Monroe for 10 years now...when I first moved here, you couldn't keep a house on the market, that's how fast they sold! Now, well, it's really sad to see the state of things. I bought my house in '02 for 459,999 (4 acres of land, new home...). I sold it last year (after being on the market for just under 2 years) for 360,000. Sad. This was a fantastic town when I first moved here with my kids....I miss those days.
Rich April 06, 2012 at 01:03 AM
If they revalue all the houses in monroe to market, then they will just have to increase the mill rate. It really is about how much the town spends, not the valuation
monroe taxpayer April 06, 2012 at 02:00 AM
Didn't I read that our taxes were to based upon FAIR MARKET VALUE ??? It appears that is no longer true. Also it seems you can have two properties that may be very similar, but one is paying more then the other? So just how is any of this fair or factual? When did the property and homeowner owners and "the town" become to separate entities? I always thought the purpose of having a town government was to assist the property owners in that town? It looks from Rich post it is now the other way around? Just when did all of these changes take place and how did I miss that referedum?
Rich April 06, 2012 at 11:53 AM
Taxpayer- You missed my point. There are always anomalies in valuations. That is the responsibility of the homeowner to fix. The bigger issue here is how much taxes we pay which will never go down unless spending by the town goes down. Additionally, the purpose of government is to assist it's citizens. Our current state and federal government is only in office to assist themselves and further their agenda. Our state is abolishing the death penalty(which I am personally against) while poll numbers clearly show the residents want to keep it. Shouldn't our reps vote for what they believe their voters want, not what they believe is right for us?
jon watson April 06, 2012 at 12:06 PM
But homeowners can't get the assessor to move. At the last evaluation I appealed as did many residents. For the most part we were ignored. I had sales data from Monroe supported by evidence that housing values across the state were plummeting and the result was still no change. It is just a political position by the assessor to make it appear property values aren't collapsing to keep the mill rate artificially low.
Big Boy April 06, 2012 at 01:22 PM
My figures were off some so let me try again, the house sold for $565,000.That is the sales price or the house value not the assessed value. The assessed value is 70% of the home's value or sales price. Since the home sold for $565,000. The town multiplies $565,000. times 70% to reach an assessed value of $395,500. The new homeowner, however, is paying taxes of $13,382.00 which is based on an assessed value of $464,000.00 which is an assessed value more than $68,000.00 than the home is worth. The current mill rate is around 29.0. The new homeowners should be paying around $11,500.00 in taxes not the $13,300.00 that they are paying, but we are all in the same life boat watching our property values sink like watching the Titanic go down!!!
Big Boy April 06, 2012 at 01:56 PM
If you contiue the math.....the original homeowner probably paid around $664,000.00 for their home based on the assessed value of $464,000.00. So with the current sales price of $565,000.00 the homeowner took a LOSS of about $100k to unload this house, poor bast@&$&. I still own after living here for 17 years at my current address but for 25 years altogether considering my previous Monroe address. Things were great when we moved here but we have seen a lot of changes and it's getting real ugly now. I am hoping the new selectman can turn things around. A positive attitude is all I can do at this point.
monroe taxpayer April 07, 2012 at 04:00 PM
Jon Watson is correct many of us have tried to fix these so called "anomalies in valuations" and we have received and explanation that makes no sense? So far from what I have seen, this data shows there is not just some "anomalies in valuations" but in reality many.. If this continues it will become even more clear that something is very wrong with the method used here. I also would like to know if these are the same individuals and departments who made the "clerical error" on the water line extension that lasted for seven years??? It seems those homeowners involved who tried to ask about what they owed were also met with a very similar response?


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