Resident says investor purchases to house Fairfield U students are inflating local sale prices

Stephanie Swan, representing her family at a Fairfield Beach Road assessment appeal, told assessor staff she believes investor purchases for student rentals have pushed nearby sale prices to levels that do not reflect neighborhood, long-term residential value.

Swan described her property as a small cottage completed in 1995 on a very small lot with a shared driveway and an unfinished barn on an adjoining parcel. She told the panel the town’s assessed value (stated in the packet as $2,595,014) does not reflect the site-specific constraints and the limited market for a tiny, partially finished property. "These prices are false flags," Swan said, arguing some recent high sales resulted from buyers willing to pay top dollar to rent the houses to university students rather than from neighborhood-market demand.

Swan provided recent comparable sales and asked the assessor to consider lot size, shared-driveway complications and the property’s limited functional value when reviewing the assessment. The assessor recorded the comparables for the file and reiterated standard next steps: staff will review the evidence in a panel meeting and mail a written decision; appellants may then pursue further appeals in court if they remain unsatisfied.

The appellant also raised neighborhood-amenity concerns—noise and transient occupancy—that she said lower long-term resident quality of life. The assessor advised appellants to submit any additional documentation before the packet is closed and to call the assessor’s office with procedural questions.