49 Rockwood Lane, discussed here a month ago when it went to contract, closed yesterday at $2.,250 million. For the money, a very decent house. The sellers bought it at not such a decent price, $3.580 million, in 2005. The town, however, has taken a more realistic view of its market value and appraises it at $2,1733. It’s unusual these days for homes to sell at their appraised price.
Case in point, 4 Woodside Drive, in Deer park, which is appraised by the town at $5,486,900, originally listed for $5.250 million in 2018, and which closed yesterday at $3.4 million.
As reader “Formerly 06820” (or more appropriately, “the Once and Again 06820”) points out, the low end of the market is much more in tune with Grand List appraisals and assessments than the high end. Owners of homes in the higher end of the spectrum will be receiving lower appraisals next year, but since town spending will keep accelerating, I wouldn’t expect a tax break.