Property Tax Alert: Connecticut

December 2005

The property tax valuation of condominium units was upheld based upon the expert testimony of the town's appraiser. In order to identify the highest and best use of the property, the town’s appraiser applied accepted principles of real estate appraisal, including the market sales approach. In contrast to the taxpayer's limited valuation information, the appraiser supported his finding of value by providing sales of condominium units in three of the town's housing complexes that he considered comparable to the subject property. Furthermore, the appraiser made adjustments in the comparables for location, size, and physical characteristics. Accordingly, the appraisal of the subject property by the town's appraiser was credible.

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