Bristol reval still doesn't add up for some

Posted 4/30/15

After the latest results of a statistical revaluation were delivered to Bristol residents, Northeast Revaluation Group is facing challenges from some homeowners who believe that their properties were valued too high when the town, on average, …

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Bristol reval still doesn't add up for some

Posted

After the latest results of a statistical revaluation were delivered to Bristol residents, Northeast Revaluation Group is facing challenges from some homeowners who believe that their properties were valued too high when the town, on average, decreased by three percent.

When George Almeida, a Cedar Street resident whose neighborhood runs off Annawamscutt Drive, opened his revaluation notice, he was shocked to find that the value on his modest ranch-style home on a 10,000 square-foot lot went up 28 percent, from $229,270 to $294,100.

“We built this in 1973. I’ve been here over 40 years. The way you see it is the way it was built in 1973,” he said.

Last year, Mr. Almeida said he paid $3,425.83 in property tax. This year, he said his tax bill will be more than $5,000.

“They’re screwing me twice,” he said.

Mr. Almeida is not alone in his questioning of Northeast Revaluation’s analysis, which resulted in 3 percent drop in the town's overall property valuation. Sixty-two percent of the homes in town decreased in value, while 35 percent increased and 3 percent remained the same. Despite the drop in valuation, 61 percent of Bristol residents will be getting a tax hike this year, owing to a 7 percent tax rate increase the Town Council approved. The tax rate jumps from $13.06 per thousand of assessed value to $14.06 per thousand.

On the western side of town, Matt Calderiso, a Bay Street resident, discovered that property owners on Oliver Street, Bay Street and Washington Street, all three of which run parallel to each other, also went up in value. Property values in that area were up between $5,500 to $134,000, Mr. Calderiso said.

His own property, a small cape on a 14,340 square-foot lot, went from $275,780 to $360,300.

“Can I get $360,000 for the house? I don’t know,” Mr. Calderiso said.

But the fact that so many properties increased in value in his neighborhood was enough to raise questions. Mr. Calderiso, along with 15 of his neighbors, together hired an independent appraiser to look into the work of Northeast Revaluation, which the town hired to clear up similar discrepancies in last year's revaluation. The town hired Northeast to fix appraiser Clipboard Inc.’s revaluation, which was widely criticized by property owners and town officials last year.

The neighborhood group looked to Bristol resident and owner of AppraiseRI, Doug Gablinske, hiring him to check Northeast Revaluation’s work.

“We have to invest money to try to save money,” Mr. Calderiso said of the neighborhood action. “He will investigate our area to see if it’s an anomaly because a couple of houses went up.”

In Mr. Calderiso’s mind, one house in particular may have caused the values to be improperly inflated. The house in question is at 17 Oliver St., where it was "flipped" in 2013. The house was purchased for $45,000 in April 2013, sold for $157,000 one month later, then sold again for $362,500 in November 2013, according to tax assessor data.

“I think it changed what went on around here,” Mr. Calderiso said. “I understand there’s revaluation and taxes. I have no problem with that. But we’re getting a double hit.”

He and Mr. Almeida share that same concern. Facing a 28 percent increase in his property value while the town went down 3 percent overall concerns Mr. Almeida. He, too, plans to solicit the advice of an outside appraiser.

After living in his home for 40 years, the retired machinist is afraid what his taxes would be if he made any improvements to his property.

“I want to put aluminum siding on this,” he said. “I’m scared. What, are they going to tack on, another $30,000 on it? I’m not going to sit down and let them screw me.”

Bristol revaluation

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