Victor N. Owen & Jacquelyn Owen
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SUPREME COURT OF THE ST ATE OF NEW YORK
COUNTY OF DUTCHESS
In the Matter of the Application for a Review Under
Article 7 of the Real Property Tax. Law of the Tax.
Assessments by VICTOR N. OWEN and
JACQUELYN OWEN,
Petitioners,
NOTICE OF PETITION
Index No. 2006/ 'ill'
-against-
Respondents.
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THE ASSESSOR OF THE TOWN OF WAPPINGER,
DUTCHESS COUNTY, NEW YORK AND THE
BOARD OF ASSESSMENT REVIEW FOR THE
TOWN OF WAPPINGER,
Greetings:
PLEASE TAKE NOTICE that upon the annexed petition, verified the
:1-<6 ~y of July, 2006, an application will be made at Special Term ofthe Supreme Court of the
State of New York in and for the County of Dutchess at 10 Market Street, Poughkeepsie,
Dutchess County, New York, on the 15th day of September, 2006, at 9:30 o'clock in the
forenoon of that day, or~as soon thereafter as counsel can be heard, for a review under Article 7
of the Real Property Tax Law of the State of New York ofa certain tax assessment of real
property of the petitioners situated in the Town of Wappinger, County of Dutchess, State of New
York, particularly described in the annexed petition, appearing upon the assessment roll for the
tax. year 2006/2007, and for such other and further relief as may be just and proper.
PLEASE TAKE FURTHER NOTICE that, pursuant to the Uniform Rules of Practice,
your appearance or submission in opposition to this application is not required on the return date.
The matter shall be adjourned generally, and all issues raised herein shall be deemed
,
automatically denied by you in twenty (20) days after completion of service of the Notice and
Petition, pending judicial intervention pursuant to Section 712 of the Real Property Tax Law.
Dated:
July 36 ' 2006
ROBERT R. BUTTS, ESQ.
Attorney for Petitioners
75 Washington St., P.O. Box G
Poughkeepsie, New York 12602
(845) 471-1600
TO: Town Clerk
Town of Wappinger
20 Middlebush Road
Wappinger Falls, New York 12590
Assessor
Town of Wappinger
20 Middlebush Road
Wappinger Falls, New York 12590
Board of Assessment Review
Town of Wappinger
20 Middlebush Road
Wappinger Falls, New York 12590
Superintendant of Schools of the
Wappingers Central School District
29 Marshall Road
Wappinger Falls, New York 12590
Dutchess County Commissioner of Finance
22 Market Street
Poughkeepsie, New York 12601
W:\Owen\Tax Cert\Ntc of Petition 1-26-06.wpd cal
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SUPREME COURT OF THE ST ATE OF NEW YORK
COUNTY OF DUTCHESS
In the Matter of the Application for a Review Under
Article 7 of the Real Property Tax Law of the Tax
Assessments by VICTOR N. OWEN and
JACQUELINE OWEN,
PETITION
Petitioners,
Index No. 2006/
-against-
THE ASSESSOR OF THE TOWN OF WAPPINGER,
DUTCHESS COUNTY, NEW YORK AND THE
BOARD OF ASSESSMENT REVIEW FOR THE
TOWN OF WAPPINGER,
Respondents.
TO THE SUPREME COURT OF THE STATE OF NEW YORK, COUNTY OF DUTCHESS:
The petitioners, VICTOR N. OWEN and JACQUELINE OWEN ("Petitioners"), by their
attorney, Robert R. Butts, Esq., as and for a verified petition in the above matter, hereby allege as
follows:
1. Petitioners reside at 158 Old Post Road, Wappinger Falls, NY 12590 and are the
owners ofreal property situated in the Town of Wappinger, Dutchess County, New York,
described on the assessment roll of the Town as follows:
VICTOR N. OWEN and JACQUELINE OWEN
TAX MAP NO. 135689-6157-04-649335-00
9.03 ACRES
2. Respondents are the Assessor of the Town of Wappinger (herein "Town"), a
municipal corporation, and the Board of Assessment Review of the Town of Wappinger, which
are charged with the duty of reviewing the assessments of real property within the Town for the
W:\Owen\Tax Cert\Petition 7-26-06.wpd cal
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purposes of taxation.
3. Upon information and belief, the assessor for the Town prepared and completed a
tentative assessment roll for all real property in the Town for the tax year of 2006-2007. The
assessor then filed the assessment roll with the Town Clerk so that it might be seen and
examined.
4. The land and premises owned by Petitioners were tentatively assessed on the
assessment roll as follows:
Land Value
Full Value
$350,000
$500,000
5. On or about May 19,2006, Petitioner protested the tentative assessment of the
property by timely filing with respondents a written complaint for review and correction of the
assessment, which included statements under oath specifying the respects in which the
assessment was incorrect and a request for a reduction of the assessment. A copy of the
complaint is attached as Exhibit "A". The complaint was received by respondents without
objection and within the time fixed by law for the making and hearing of complaints.
6. On May 23,2006, such complaint was presented at a hearing before the Board of
Assessment Review. Petitioners claimed in their complaint that the estimate of the fair market
value of the property should be $412,000.00. Based upon the applicable equalization rate,
Petitioners' claimed assessment as so presented should be deemed to be $132,664.00.
7. Respondents thereafter made their final determination on Petitioner's complaint,
and on or about July I, 2006 the assessment roll for the Town for the year 2006-2007 was finally
completed and filed by respondents.
W:\Owen\Tax Cert\Petition 7-26-06.wpd eal
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8. Respondents gave notice of the completion and filing of the assessment roll on or
about the same date.
9. The assessment on Petitioner's real property as it appears on the assessment roll as
finally completed and filed by Respondents according to law in the amounts set forth in the
following schedule:
Tentative
Assessment
Claimed
Assessment
Final
Assessment
Inequality or
Overvaluation
$500,000
$132,664
$475,000
$342,336
10. Thirty (30) days have not elapsed since the latter of the final completion and filing
of the assessment roll and the giving of notice thereof as required by law, or the final day set by
law for the filing of the assessment roll.
11. Upon information and belief, the full market value of Petitioner's real property is
not more than $412,000.
12. The assessment of Petitioners' property on the assessment roll as finally
completed and filed is incorrect and erroneous upon the following grounds:
a. Overvaluation to the extent set forth in the aforementioned schedule in paragraph
"9. "
b. Inequality to the extent set forth in the aforementioned schedule in paragraph "9"
in that the assessment is unequal having been made at a higher proportionate valuation than the
assessments of other real property on the same roll and/or other real property in the same class on
the same roll by the same officers and Respondents. The specified instances of said inequality
are the assessments of all real property and/or other real property in the same class other than the
W:\Owen\Tax Cert\Petition 7-26-06.wpd cal
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property of the Petitioners, in the same assessing jurisdiction and in each and every parcel
thereof. In order that the assessment of Petitioners' real property be made proportionate to
assessments of all other real property throughout the assessing jurisdiction and/or other real
property in the same class throughout the assessing jurisdiction, it is necessary that it be reduced
to the amount set forth in the aforementioned schedule.
c. Misc1assification to the extent the assessment resulted in an incorrect allocation of
parcel's assessed valuation between homestead real property and the remainder of the parcel.
d. Illegality to the extent set forth in the aforementioned schedule in that subject
property is being assessed in an erroneous, arbitrary and capricious manner.
e. Unconstitutional to the extent the methodology used by the Respondents is in
violation of the Equal Protection Clause of the New York State Constitution and the United
States Constitution.
13. If the assessment at issue is a transitional assessment, such assessment is
excessive, erroneous and illegal in that it exceeds the permissible transitional increase set forth in
the Real Property Tax Law.
14. Petitioners are aggrieved and injured by said unjust, unequal, excessive, illegal,
incorrect and erroneous assessments in that, by reason thereof, Petitioners will be compelled to
pay a greater amount and proportion of taxes based upon the assessment roll than Petitioners
would be required to pay if said assessment had been just, fair, equal and correct.
15. No provision is made by law for an appeal or other relief from the final
determination of Respondents, except by a review by petition to the Supreme Court and no
previous application has been made to any Court or Judge for the relief herein requested.
W:\Owen\Tax Cert\Petition 7-26-06.wpd cal
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WHEREFORE, Petitioners pray that said assessment roll be corrected and the assessment
against Petitioners' aforesaid real property be reduced to a proper amount and properly equalized
with the assessments of other real property on the same roll; that the Court take evidence or cause
the same to be taken to enable Petitioners to show the illegality, inequality, over-valuation, and
error of said assessment against Petitioners' real property; that Petitioners have such other and
further relief as may be just and proper, including the costs and disbursements of this proceeding,
reasonable related expenses; that illegal, unequal or excessive taxes be refunded, with interest,
and such additional allowances as the Court shall allow.
Dated: JulYd-<t,2006
ROBERT R. BUTTS,
Attorney for Petitioner
75 Washington St., P.O. Box G
Poughkeepsie, New York 12602
(845) 471-1600
W:\Owen\Tax Cert\Petition 7-26-06.wpd cal
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Verification:
STATE OF NEW YORK )
) ss:
COUNTY OF DUTCHESS )
VICTOR N. OWEN, being duly sworn, deposes and says: I am the Petitioner in the
above entitled action; I have read the foregoing Petition and know the contents thereof and the
same are true to my knowledge except those matters therein which are stated to be alleged upon
information and belief, and as to those matters I believe them to be true.
u~ Ii (L
VICTOR N. OWEN
Notary Public
ROBERT R. BUTTS
Notary Public:. State of New Yort
No. rFi27C:89
9ualified i.ll DutQl:l;yss.CAl./Iltv. 1'1--"
Commission Expires ~ ~..u..--I
W:\Owen\Tax Cert\Petition 7-26-06.wpd cal
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NYS BOARD OF REAL PROPERTY SERVICES'
RP-S24 (10/02)
COMPLAINT ON REAL PROPERTY ASSESSMENT FOR 20 06
BEFORE THE BOARD OF ASSESSMENT REVIEW FOR Town of Wappinger
(city, town village or county)
PART ONE: GENERAL INFORMATION
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(General information and instructions for completing this form are contained inform RP-524-Ins)
l. Name and telephone no. of owner(s)
victor N. ONen
Jacqueline OWen
2. Mailing Address of owner(s)
158 Old Post Road
Wappingers Falls, NY 12590
Davno. (845 297-9087
Evening no. ( )
3. Name, address and telephone no. of representative of owner, if representative is filing application.
(if applicable, complete Part Four on page 4.)
RoDen: R. Butts
75 Washington st., PO Box G, Poughkeepsie, NY 12602 (845) 471-1600
4. Property location
158 Old Post Road
Street Address
Village (if any)
Wappinger
Dutchess
~own
County
Wappinger CSD
School District
5. Property identification (see tax. bill or assessment roll)
Tax map number or sectionlblockllot
6157-04-649335-00
Type ofproperty:
Residence
x
Farm
Vacant land
Commercial_
Industrial
Other
Description: 9 acres, nost1y wooded, with two houses, one avner-occupied,
thp nt-hpr va~;:mt-_
Assessed value appearing on the assessment roll:
6. Land $ 350.000
Total $ 500.000
7. Property owner's estimate of current full market value of property (see Part Two on page 2) $412,000
RP-524 (10/02)
2
PART TWO: INFORMATION NECESSARY TO DETERMINE VALUE OF PROPERTY
(If additional explanation or documentation is necessary, please attach)
Information to support the value of property claimed in Part One, item 7 (complete one or more):
1. _ Purchase price of property: ..... ................................ ............... ............................. ........... $
a. Date of purchase:
b. Terms:
Cash
Contract
Other (explain)
c. Relationship between seller and purchaser (parent-child, in-laws, siblings, etc.):
d. Personal property, if any, included in purchase price (furniture, livestock, etc.; attach list and sales
tax receipt):
2. ~ Property has been recently offered for sale (attach copy of listing agreement, if any):
When and for how long: For] ast 17 years
H ffi d Listed with broker
ow 0 ere :
Asking price: $ 950,000, all cash
3. ~ Property has been recently appraised (attach copy): When: 9/05 By Whom: Hubbell Realty Service
I
Purpose of appraisal: Tax Certiorari
Appraised value: $ 412,000
4. L Description of any buildings or improvements located on the property, including year of
construction and present condition: 2 houses, shed; fair to poor condition.
5. _ Buildings have been recently remodeled, constructed or additional improvements made:
Cost $
Date Started:
Date Completed:
Complainant should submit construction cost details where available.
6. _ Property is income producing (e.g., leased or rented), commercial or industrial property and the
complainant is prepared to present detailed information about the property including rental income,
operating expenses, sales volume and income statements.
7. ~ Additional supporting documentation (check if attached). Copy of appraisal.
RP-524 (10/02)
3
PART THREE: GROUNDS FOR COMPLAINT
A. UNEQUAL ASSESSMENT (Complete items 1-4)
1. The assessment is unequal for the following reason: (check a or b)
a._ The assessed value is at a higher percentage of value than the assessed value of other real property on the
assessment roll.
b.L The assessed value of real property improved by a one, two or three family residence is at a higher
percentage of full (market) value than the assessed value of other residential property on the assessment
roll or at a higher percentage of full (market) value than the assessed value of all real property on the
assessment roll.
2. The complainant believes this property should be assessed at 32. 2 % of full value based on one or more of
the following (check one or more):
a.lL The latest State equalization rate for the city, town or village in which the property is located is 35 %.
b.lL The latest residential assessment mtio established for the city,town or village in which the residential
property is located. Enter latest residential assessment ratio only if property is improved by a one, two or three
family residence 32 _ 2 %.
c.X- Statement of the assessor or other local official that property has been assessed at 35 %.
d._ Other (explain on attached sheet).
3. Value of property from Part one #7... ..................................... ...... ................ ....... ................. ..... $ 412,000
4. Complainant believes the assessment should be reduced to ........................................................ $ 13 2 , 664
B. EXCESSIVE ASSESSMENT (Check one or more)
The assessment is excessive for the following reason(s):
1. _ The assessed value exceeds the full value of the property.
a. Assessed value of property ................. ........................ .......................................................... $
b. Complainant believes that assessment should be reduced to full value of (Part one #7) . .. .... .. .. ... $
c. Attach list of parcels upon which complainant relies for objection, if applicable.
2. _ The taxable assessed value is excessive because of the denial of all or portion of a partial exemption.
a. Specify exemption (e.g., senior citizens, vetemns, school tax relief [STAR])
b. Amount of exemption claimed ...... .................... ....................... ............................................. $
c. Amount granted, if any:... .......... .... ........................................................................................ $
d If application for exemption was filed, attach copy of application to this complaint.
3. _ Improper calculation oftmnsition assessment. (Applicable only in approved assessing unit which has
adopted transition assessments.)
a. Transition assessment......................... .................................................................................. $
b. Tmnsition assessment claimed .............................................................................................. $
C. UNLAWFUL ASSESSMENT (Check one or more)
The assessment is unlawful for the following reason(s):
1. _ Property is wholly exempt. (Specify exemption (e.g., nonprofit organization))
2. _ Property is entirely outside the boundaries of the city, town, village, school distri;t or special district in
which it is designated as being located
3. _ Property has been assessed and entered on the assessment roll by a person or body without the authority to
make the entry.
4. _ Property cannot be identified from description or tax map number on the assessment roll.
5. _ Property is special franchise property, the assessment of which exceeds the final assessment thereof as
determined by the State Board of Real Property Services. (Attach copy of State Board certificate.)
D. MISCLASSIFICATION (Check one)
The property is misclassified for the following reason (relevant only in approved assessing unit which establish
homestead and non-homestead tax rates):
~ Class designation on the assessment roll: ................... Non-Hompstead
LX-- Complainant believes class designation should be.... HnmP~+-p;:l(i
2. X-- The assessed value is improperly allocated between homestead and non-homestead real property.
Allocation of assessed value on assessment roll Claimed allocation
Homestead ........... $ 0 132,664
Non -Homestead... $ snn, nnn n
RP-524 (10/02)
4
PART FOUR: DESIGNATION OF REPRESENTATIVE TO MAKE COMPLAINT
I, Victor N. (Men . as complainant (ef eft18lilr tRlilFlil9t) hereby
designate Robert R. Butts to act as my representative in any and all
proceedings before the board of assessment review of the ~town/villag8le9anty ef Wappinger for
purposes of reviewing the assessment of my real property as it appears on the2006 (year) tentative assessment roll
of such assessing unit. j )\. . 0_ ,I /)
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Date Signature of owner (or officer thereof)
Victor N. OVen
PART FIVE: CERTIFICATION
I certify that all statements made on this application are true and correct to be best of my knowledge and belief, and I
understand that the making of any willful fase statement of material fact herein will subject me to the provisions of
the Penal Law relevant to the making and filing of false instruments.
5~lq-D(,
Date
Complainant or representative
Assessor
Date
SPACE BELOW FOR USE OF BOARD OF ASSESSMENT REVIEW
Disposition
D Unequal assessment DExcessive assessment
D Unlawful assessment D Misclassitication
D Ratification of stipulated assessmentDNo change in assessment
Reason:
Vote on Complaint
DAll concur
D All concur except:
D against
Dabstain
D absent
Name
D against
D abstain
D absent
Name
Tentative assessment
Total assessment $
Transition assessment (if any).. $
Exempt amount........................ $
Taxable assessment.................. $
Decision by
Board of Assessment Review
$
$
$
$
Claimed assessment
$
$
$
$
Class designation and allocation of assessed value (if any):
Homestead ............................. $ $
Non-homestead ....................... $ $
Date notification mailed to complainant
$
$
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R. PETER HUBBELL, JR.. MAl
HUBBELL REALTY SERVICES, INC.
Real Estate Appraisal and Counseling
320 MAIN STREET. POUGHKEEPSIE, NY 12601
(845) 454-6525 . F,o.X (845) 454-6359
EMAIL: InfoOhubbellrealtyservlces.com
APPRAISAL
RESTRICTED REPORT - LIMITED APPRAISAL
GRANT ACKERLY
WENDY NESEL
SUBJECT PROPERTY
Owen Property
158-164 Old Post Road
Town of Wappingers
Dutchess County, New York
CERTIFIED TO
Robert R. Butts
Attorney & Counselor at Law
7 5 Washington Street
PO Box G
Poul!hkeeosie. NY 12602
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Owen v TIO Wappinger
. September 23, 2005
page ]
This is a Restricted Use Appraisal Report which is intended to comply with the minimum
reporting requirements set forth under Standards Rule 2-2(c) of the Uniform Standards of
Professional Appraisal Practice for a Restricted Use Appraisal Report. As such, it does not
present discussions of the data, reasoning, and analysis that were used in the appraisal process
to develop the appraiser's opinion of value. Supporting documentation concerning the data,
reasoning and analysis is retained in the appraiser's file. The depth of discussion contained in
this report is specific to the needs of the client and for the intended use stated below.
CLIENTIINTENDED USER:
Robert R. Butts
Attorney & Counselor at Law
75 Washington Street
PO Box G
Poughkeepsie, NY 12602
INTENDED USE:
For the sole use of the client to establish the value of
properties listed below for appeal of the 2004 and 2005 real
estate tax assessments. This report is not intended for any
other use. The appraiser is not responsible for unauthorized
use of this report.
IDENTIFICATION OF
REAL ESTATE:
Subject Property:
Owner:
Tax Id. Number:
Current use:
Improvements:
9.03 acre improved parcel; Town of Wappinger, NY
Victor N. & Jacqueline Owen
6157-04-649335
Multiple residences
Main house, 1,018 sq.ft. cape;
Old style rental house, 2-story with 2,384 sq.ft, and a shed,
all in fair to poor condition.
INTEREST VALUED:
Fee Simple Interest
PURPOSE OF
THE ASSIGNMENT:
To development an opinion as to a range in market value
(as defined by agencies that regulate financial institutions in
the United States and published by the Appraisal Institute
in The Dictionary of Real Estate Appraisal, 4th edition).
The resulting value conclusions will be used by Robert R.
Butts, attorney for the property owner, in challenging the
2004 and 2005 assessments of the subject properties.
EFFECTIVE DATE OF VALUE: January 01,2004 for the 2004 roll.
July 01, 2004 for the 2005 roll.
DATE OF REPORT:
September 16, 2005
. Owen v TIO Wappinger
September 23, 2005
page 2
SCOPE OF WORK:
In preparing this assignment, the following was conducted:
inspected the interior and exterior of the subject on
September 16, 2005; gathered and confIrmed information
on comparable sales of similar improved properties, in the
Town of Wappinger and surrounding townships in
Dutchess County; analyzed the information gathered,
applying the Sales Comparison Approach to arrive at value
indications;
REPORT OPTION:
This report is a Restricted Use Appraisal Report in
accordance with Standards Rule 2-2@) of the Uniform
Standards of Professional Appraisal Practice. As such, it
presents no discussions of the data, reasoning, and analyses
that were used in the appraisal process to develop the
appraiser's opinion of value. Supporting documentation
concerning the data, reasoning, and analyses is retained in
the appraiser's file.
HIGHEST AND BEST USE:
Per NYS Real Property law the property is valued as "in
use", Residential - multiple residences.
EXTRAORDINARY
ASSUMPTIONS:
None
HYPOTHETICAL
ASSUMPTIONS:
None
OPINION OF VALUE:
2004 Roll
January 1,2004 - $390,000; Equalization rate - 48.00%; Assessed Value - $187,000
2005 Roll
July 1, 2005 - $412,000; Equalization rate - 44.34%; Assessed Value - $182,680
INDICA TED EXPOSURE TIME: 6 to 12 months
CERTIFICATION: I certify that, to the best of my knowledge and belief:
The statements of fact contained in this report are true and correct.
The reported analyzes, opinions, and conclusions are limited only by the reported
assumptions and limiting conditions, and are my personal, unbiased professional
analyzes, opinions, and conclusions.
HUBBELL REALTY SERVICES. INC.
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. Owen v T /0 Wappinger
September 23, 2005
page 3
I have no present or prospective interest in the property that is the subject of this report,
and I have no personal interest or bias with respect to the parties involved.
My engagement in this assignment was not contingent upon developing or reporting
predetermined results.
My compensation and employment for this appraisal is not contingent upon the reporting
of a predetermined, minimum, specific or direction in value that favors the cause of the
client, the amount of the value estimate, the attainment of a stipulated result, the
occurrence of a subsequent even or the approval of a loan.
The reported analyses, opinions, and conclusions were developed, and this report has
been prepared, in conformity with the requirements of the Code of Professional Ethics
and the Standards of Professional Appraisal Practice of the Appraisal Institute, which
include the Uniform Standards of Professional Appraisal Practice.
The use of this report is subject to the requirements of the Appraisal Institute relating to
review by its duly authorized representatives.
I have made a personal inspection of the property that is the subject of this report.
No one provided significant professional assistance to the person signing this report other
than Wendy Wallace, Staff Appraiser.
As of the date of this report, R. Peters Hubbell, Jr. has completed the continuing
education program of the Appraisal Institute.
Date:
-4v~ ~ ~5
~~jf~
State Certified General Real Estate Appraiser No. 46..3185
Signature:
Attachments
HUBBELL REALTY SERVICES. INC.
Owen v T 10 Wappinger
September 23. 2005
page 4
PHOTOGRAPHS OF MAIN HOUSE
HUBBEU REALTY SERVICES. INC.
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Owen v T/O Wappinger
September 23, 2005
page 5
INTERIOR PHOTOGRAPHS OF MAIN HOUSE
HUBBEU REALTY SERViCES. iNC.
Owen v TIO Wappinger
September 23, 2005
page 6
PHOTOGRAPHS OF GUEST HOUSE
HUBBELL REALTY SERVICES. INC.
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Owen v T/O Wappinger
September 23,2005
page 7
INTERIOR PHOTOGRAPHS OF GUEST HOUSE
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UPSTAIRS APARTMENT KITCHEN
LOWER APARTMENT DEN - CEILING DAMAGE
LOWER APARTMENT KITCHEN
UPPER APARTMENT BDRM - CEILING DAMAGE
HUBBELL REALTY SERVICES. INC.
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PROPERTY:
OWEN PROPERTY
158 OLD POST ROAD
TOWN OF WAPPINGER
CLIENT:
PROPERTY TYPE:
YEAR 2004 - RESIDENTIAL GRID
ROBERT R. BUTTS. ATTORNEY
MULTIPLE RESIDENCES
ITEM
SUBJECT SALE 1 SALE 2 SALE 3
JANUARY 1, 2004 JANUARY 2004 FEBRUARY 2004 DECEMBER 2004
$380.000 $440,000 $332,500
158 OLD POST ROAD 43 MAURERBROOK DRIVE 361 ALL ANGELS HILL RD DUGAN LANE
TOWN OF WAPPINGER FISHKILL WAPPINGER WAPPINGER
9.03 6.28 8.01 1.3
AVERAGE AVERAGE AVERAGE AVERAGE
AVERAGE AVERAGE AVERAGE AVERAGE
HD R40 R40
PRI W & S MUN WATER & SEPTIC PRI W & S
LEVEL TO ROLLING ROLLING TO SLOPING LEVEL TO ROLLING ROLLING
AVERAGE AVERAGE AVERAGE AVERAGE
2 HOUSES HOUSE. 2 CAR GAR HOUSE, 2 RESIDENCES
FAIR TO POOR AVERAGE AVERAGE AVERAGE
NONE NOTED DRAINAGE EASEMENT NONE NOTED NONE NOTED
$380.000 $440.000 $332,500
ADJUSTMENTS
$380,000 $435,600 $297,700
0% 0% 0%
0% 0% -10%
0% 0% 0%
0% 0% 0%
10% 0% 0%
0% 0% 0%
15% 15% 0%
-5% -5% -5%
NET ADJ. 20% 10% -15%
$456,000 $479,160 $253,045
33.00% 33.00% 34.00% 100.00%
$150,480 $158,123 $86,035
FINAL VALUE
$390,000
DATE:
PRICE;
LOCATION:
LAND SIZE acres:
LAND QUALITY
ACCESS
ZONING:
UTILITIES:
TOPO
VIEWS
IMPROVEMENTS
QUALITY
LAND LIMITATIONS
SALE PRICE
MRKT. CONDo
LOCATION
LAND SIZE
ZONING
LAND QUALITY
LAND LIMITATIONS
VIEWS
IMPROVEMENTS
QUALITY
INDICATED VALUE
WEIGHTING
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PROPERTY: OWEN PROPERTY
158 OLD POST ROAD
TOWN OF WAPPINGER
YEAR 2005 - RESIDENTIAL GRID
CLIENT: ROBERT R. BUTTS, ATTORNEY
PROPERTY TYPE: MULTIPLE RESIDENCES
ITEM SUBJECT SALE 1 SALE 2 SALE 3 SALE 4
DATE: JULY 1. 2004 APRIL 2004 MAY 2004 AUGUST 2004 APRIL 2004
PRICE; $490,000 $376,000 $550,000 $385,000
LOCATION: 15B OLD POST ROAD 116 DUSTY TRAIL 45 MIDDLEBUSH ROAD 9 OLD ROUTE 9 322 OLD HOPEWELL ROAD
TOWN OF WAPPINGER WAPPINGER WAPPINGER WAPPINGER WAPPINGER
LAND SIZE acres: 9.03 1B.n 1.2 1.1 4.1
LAND QUALITY AVERAGE AVERAGE AVERAGE AVERAGE AVERAGE
ACCESS AVERAGE AVERAGE AVERAGE AVERAGE AVERAGE
ZONING: HD R80 R20 HB1A
UTILITIES: PRI W & S PRI W & S PRI W & S PRI W & S MUN WATER & SEPTIC ..
TOPO LEVEL TO ROLLING ROLLING TO SLOPING LEVEL TO ROLLING LEVEL TO ROLLING LEVEL TO ROLLING
VIEWS AVERAGE AVERAGE AVERAGE AVERAGE AVERAGE
2 RESIDENCES. SHED 2 RESIDENCES, BARN, 2 RESIDENCES, 3 CAR 7 RENTALS, 1 CAR GAR RESIDENCE & COTTAGE,
IMPROVEMENTS SHED ATTACHED GAR SHED
QUALITY FAIR TO POOR AVERAGE AVERAGE AVERAGE AVERAGE
LAND LIMITATIONS NONE NOTED NONE NOTED NONE NOTED NONE NOTED NONE NOTED
SALE PRICE $490,000 $376,000 $550,000 $385,000
ADJUSTMENTS
MRKT. CONDo $504,847 $383.558 $544,500 $396,666
LOCATION 0% 0% 0% 0%
LAND SIZE 10% -10% -10% -5%
ZONING 0% 0% 0% 0%
LAND QUALITY 0% 0% 0% 0%
LAND LIMITATIONS 0% 0% 0% 0%
VIEWS 0% 0% O"k 0%
IMPROVEMENTS 0% 0% -5% 0%
QUALITY -5% -5% -5% -5%
NET ADJ. 5% -15% -20% -10%
INDICATED VALUE $530,090 $326,024 $435,600 $356,999
WEIGHTING 25.00% 25.00% 25.00% 25.00"k 100.00%
$132,522 $81,506 $108,900 $89,250
~ FINAL VALUE
$412,000
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Sales Photographs for 2005
Driveway to house
Sale #1-116 Dusty Trail
View from house
Sale #2 - 45 Middlebush Rd
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Sale #3 for year 2005 - 7 buildings
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Sale #4 - 322 Old Hopewell Road, Wappingers
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Sales Photographs for 2004
Sale #1 - 43 Maurerbrook Dr.,
Fishkill
Sale #2 - 361 All Angels Hill Rd.
Wappinger
Sale #3 - 13 Dugan Lane, Wappinger
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HUBBELL REALTY SERVICES, INC.
Real Estate Appraisal and Counseling
320 MAIN STREET. POUGHKEEPSIE, NY 12601
(845) 454-6525. FAX (845) 454-6359
R. PETERS HUBBELL, JR., MAl
QUALIFICATIONS OF
R. PETERS HUBBELL, JR.
PROFESSIONAL DESIGNATIONS
MAl - Member Appraisal Institute, #9808 January 1993; Past President of Mid-Hudson Chapter
CERTIFICATIONS, LICENSES and PROFESSIONAL MEMBERSHIPS
New York State Certified General Real Estate Appraiser No. 46-3185
Qualified General Real Estate Appraiser for NYS Department of Transportation
American Society of Farm Managers and Rural Appraisers, Candidate Member
New York State Society of Real Estate Appraisers
GENERAL EDUCATION
CORNELL UNIVERSITY - Ithaca, New York - B.S. Agricultural Economics
PROFESSIONAL EDUCATION
Appraisal Institute: Standards of Professional Practice, Part B and C; Advanced Income
Capitalization; Litigation Valuation Overview; Seminars:"Discounted Cash Flow Analysis,";
"Understanding limited Appraisals-General"; "Special-Purpose Properties"; "New Industrial
Valuation"; "Litigation Valuation Overview"; "Eminent Domain and Condemnation Appraising"
Society of Real Estate Appraisers: Applied Residential Property Valuation; Principles of Income
Property Appraising; Applied Income Property Valuation; Standards of Professional Practice. Part A,;
Seminars: "Uniform Commercial and Industrial Appraisal Report"
Marist College: Clean Water Act; Real Estate Salesperson Course
INSTRUCTOR
Marist CoJIege and Dutchess Community CoJIege, School of Adult Education:
Real Estate Appraisal Module
SEMINAR PRESENTATIONS
"Preserving the Family Farm and Your Equity," Dutchess County Cooperative Extension;
"Conserving Our Tax Base," DutchesslUlster Assessors Assoc.; "Basic Commercial Valuation
Techniques," New York State Assessors' Assoc.
PROFESSIONAL EXPERIENCE
Since 1987, engaged exclusively in the appraisal of real estate.
Assignments include apartment buildings, retail stores, shopping centers, office buildings, vacant land,
farms, agribusiness properties, industrial buildings, single family residences, estates, purchase of
development rights, conservation easements, lease fee interest, condemnation, tax certiorari, feasibility
and market studies.
LmGATION
Qualified in United States District Court, New York State Superior Court, Supreme Court, Court of
Oaims