Homeowner says August purchase proves market value for West Morgan Avenue appraisal

A homeowner who purchased 102 West Morgan Avenue in August told the Board of Assessment Appeals the purchase price should set fair market value for the property.

The owner presented his closing documents and cited state guidance on valuation, saying the town’s appraised figure exceeded the price he paid at an open competitive sale. “I bid above asking and paid $1,609,000,” the homeowner said; he told the board that under state practice assessors typically use competitive, recent sales in the base valuation period to set value and that towns assess at 70% of market value.

Board members said that an arm’s‑length sale during the base valuation period is strong evidence and called the appellant “his own best comp.” The board asked the homeowner to supply closing statements and public records to attach to the appeal file; staff said they would present the materials to the full board during deliberations in March.

No final vote was taken at the hearing; the board’s chair said this case appears straightforward but must be confirmed in deliberations and recorded in the minutes.