Stats Show Landowners Contented with Revaluation

Some silver lining appeared in Westport’s soured real estate market. When the latest batch of revaluations were sent to property owners, statistics show people were relatively satisfied compared to 2005.

That could be attributed to the fact that the majority of people saw their property values decline, meaning there’s less to tax. In 2005, the opposite happened and people weren’t pleased.

In 2005, homeowners appealed a staggering 850 revaluations. This year, only 249 will go to the Board of Assessment Appeals.

Paul Friia, the town’s assessor since 2007, said this decline is not just attributable to most properties being valued less.

"I’d like to think we did a pretty thorough job and people [appreciated that],” said Friia.

 In the revaluations, owners of the most expensive homes saw the fewest benefits. The results of the revaluation were determining market data.

While most properties, both commercial and resident, are worth less, it does not necessarily mean tax bills will follow suit. In the spring, the Board of Finance will set the mill rate. If taxes are raised enough, then the bills could remain the same or possibly increase above their current levels. The 2010-11 budget, , will play in a big part in whether taxes are increased.