Haddam River Land 2010 Assessment Reset at $300,540

The assessed value of the 17.8 acres in Haddam that are at the center of a controversial land swap proposal has been increased from $120,000 to $300,540, following a review by the town’s assessor of an error on the property’s 2010 assessment.

While the river land’s new assessment is greater than the Higganum land, the second property in the land swap proposal, it still represents a more than 70 percent decrease in assessed value in one year. The new assessment also brings the river land’s assessed value much closer to the assessment on the 87 acres in Higganum. The Higganum land is assessed at $226,900.

The issue of the value of both properties has become a central one in the land swap controversy because Connecticut law requires that any state land involved in a swap be of greater or equal value to the property for which it would traded.

Under the Haddam land swap plan, currently pending in the state Senate, the state would give the 17.8 acres to the owners of the Riverhouse at Goodspeed Landing in return for the 87 acres in Higganum the Riverhouse partners own. That forested property abuts the Cockaponset State Forest and would provide greater public access to the state forest, the Riverhouse partners have said.

If the legislature approves the swap, appraisals of both properties would be required.

The Riverhouse owners have proposed using the 17.8 acres, which abut their banquet facility property, to build a boutique hotel and associated retail space. The plan, they said, would augment their business and boost the town’s economy.

Opponents, however, have decried the idea and have questioned its economic benefits. They also have said swapping state-owned land would set a dangerous precedent for other potential land sales or donations Connecticut residents might make.

The Tylerville land, which overlooks the Connecticut River across from the Goodspeed Opera House, was assessed in 2009 at $1,088,500. Then, during a revaluation of all properties last year, the new assessment was set at $120,000. When residents brought that figure to the attention of Assessor Marilyn R. Baumann earlier this year, and questioned the dramatic decrease, Baumann said the new assessment was wrong and was the result of a clerical error.

A review of the property followed, and the new assessment was recently set at $300,540.

Baumann on Tuesday said she could not comment on the revised assessment and why it is still represents a decrease of more than $700,000 from the previous assessment. She referred all questions to First Selectman Paul J. DeStefano.

DeStefano said he’s not sure why the property’s valuation dropped so much, but said he believes the original $1,088,500 assessment may have been in error.

He said the townwide assessment data was collected and set by Vision Appraisal Technology, of  Northborough, Mass., an appraisal services company that oversees assessment data collection for many Connecticut towns.

DeStefano said he believes the new assessment is accurate and that the appraisal company did “everything by the book.”

He said there are other state-owned properties in town that also saw a precipitous drop in assessment value, but could not recall where those properties are located.

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