West Hartford, CT

How many popular neighborhoods are there in West Hartford? Different people would argue for all of them! Webster Hill provides an elementary school within walking distance for most students (Conard High School is also just a few steps away for most). Also close by are West Hartford Center, the Noah Webster House, Rockledge Golf Course and 2 entrance ramps for I-84.

In Webster Hill, bordered roughly by Boulevard, I-84 and South Main Street, houses sold (median #) in 29 days over the course of 2007! Buyers liked what they found and usually found theirhomes quickly (fastest sale in 2 days and slowest 415 days). There were 57 single-family homes sold, at prices ranging from $425,000 to $145,000, with a median price paid of $257,500. That median price was for a split-level home with 1,244 sf of main floor living space, plus a 14x13 lower level family room, a 1-car garage, 3 bedrooms, 2 1/2 baths and a .37 acre lot. Most homes were build between the 1920s and the 1960s. Very limited land remains in this area for any new construction...

LAST YEAR -

In February 2007, the citizens of West Hartford were concerned. They received new assessments from the town as a result of revaluation - many people seeing a doubling of their assessment (The state requires assessments every four years, but West Hartford managed a seven-year hiatus, from October 1, 1999 to October 1, 2006).

The town cautioned that you could not apply the 46.19 mill rate to the new assessment. A significant growth in the town's grand list would mean a lower mill rate. After state-level political change to allow a phase-in of up to 5 years of the new assessment, West Hartford elected to limit the first year change in assessment to a maximum of 25% more than the October 1, 1999 assessment level, and the new mill rate decreased to 38.63. On average, homeowners experienced a 6% increase in their tax bill.

BACKGROUND -

Town expenses in Connecticut are funded primarily by local tax revenue, with the minority of funding picked up by the state and almost none from the federal government. Last year, the "average payment" from towns was 66% of the total. However, in a town like West Hartford, our local funding is at 85% of the total bill (in year's past, we have paid as much as 89%)!

This bill is paid for by us through taxes on our motor vehicles, our homes and the local businesses. On average, West Hartford determined that the value of commercial property increased 46% over the seven-year period (it would be interesting to see if tenants in West Hartford Center are only paying 46% more in rent than they were in 1999?!). West Hartford decided that the value of residential property increased 77% over the same period. The tab for motor vehicles is simpler, using the blue book value for each vehicle, based on model year...

Therefore, the two factors that influence residents' tax bills are:

1) What is the state's "FAIR SHARE" (debated for decades & not within our direct control - speak with your state representative and senator)?

2) Is the town ready to improve their evaluation of the "FAIR SHARE" for commercial land owners? (This is an issue which has been brought to Mayor Scott Slifka's attention repeatedly over the past four years, but he may need to hear it from more taxpayers - this issue is within the town's control and could be addressed much faster than issue #1 above).

2008 EXCITEMENT

The article in today's Hartford Courant (February 19, 2008, page B3) (Why do these stories always end up being published during school vacation week??) is entitled "Phase-In of Revaluation Could End." The good news (let's start positive) is that ending the phase-in will cause a larger drop in the mill rate. For people who have expensive cars and have two-year leases in town, this is a big plus. For people who have new homes in town, this may be a plus. However, for most homeowners who saw the limit in the phase-in helping their tax burden last year, removing this limit could mean a large tax increase in July!

CHALLENGE TO OUR WEST HARTFORD TOWN GOVERNMENT

Prior to the budget presentation next month, the taxpayers need some data from the town database. Some facts will make this debate more real and help us to understand our neighbors' plights. Show us the change in taxes based on the current phase-in and based on elimination of the phase-in. This information should be published no later than March 1, 2008!

Let's publish some specific examples of the tax change scenarios:

1) Choose a home in Elmwood which had its assessment double.

2) Choose a home within 2 blocks of West Hartford Center.

3) Choose a home west of Mountain Road.

4) Choose a home north of the University of Hartford.

5) Choose a home east of Quaker Lane.

Also, the town website is missing any explanation of the assessment phase-in (this omission is one year late in being addressed-let's move on this now - take advantage of the school vacation week peace & quiet to improve our customer service)!

(P.S. For those of you following this closely, if there is a year to eliminate the phase-in it is one more year down the road - when Blue Back is completely built and has reached its peak in terms of assessed value!)

I recently had a discussion with a friend who now calls West Hartford CT his home. He and his wife, along with his two children are incredibly happy and thrilled with their community.

All too often, you hear about the taxes of CT and the expense of living here. Well, that is often tied to feelings of value. We don't mind paying for things when we know they are worth it... and that is the case for West Hartford, CT. (If you missed my past post about Blue Back Square and West Hartford Center.. here it is: http://activerain.com/blogsview/316349/West-Hartford-CT-Real )

Their school system is rivaled by almost all towns in CT. Teachers seek jobs here, parents seek homes here, and students get an education like no other.

I could make this a long winded blog about each area, neighborhood, and school... but there are handy links directly to the West Hartford school website!

• http://www.whps.org/hr/excel7.htm - Excellence with No Exception
• http://www.whps.org/whps/moving-here - Why Move to West Hartford?
• http://www.west-hartford.com/education/education.htm - West Hartford CT Main Site and Info

Welcome to West Hartford. I would be happy to assist you in your home search. If you are selling your home... be sure to work with an agent focused on all the wonderful reasons West Hartford is THE PLACE TO BE!

So you’ve decided to buy a home. Maybe you are a newlywed, and you and your new better half are happy in love and off to pursue the American dream. Maybe you’re an unhappy renter, tired of throwing away your hard-earned money every month for your landlords house. Perhaps you’re a savvy investor looking to turn a profit from the current West Hartford real estate market.

Whatever your reason, you’re ready to buy, and you’re want to buy right now. Purchasing a home can be a exciting, weird, and intimidating experience — occasionally all at once. But by following a few simple steps, your transition from shopping to proud owner can be an easy one.

Getting Credit Its' Due

It can be pretty tempting to log on the internet and search for the home of your dreams, but before you click your mouse, you’ve got to get your credit in order. Three major credit agencies keep track of your credit records—Experian, TransUnion and Equifax. Each of them will have a separate credit history and rating for you on file. Check each of these resources independently—now is a time to get your free annual credit report —and make sure to correct any inaccuracies and check for identity theft.

Finding Your Limits

There are countless options of houses you could buy, but more importantly what can you afford? Sure lots of people would love that 5,000 square foot, eight bedroom McMansion on Mountain Rd. but for most buyers this is out of their payment range. What you need to know before starting the process is exactly how much house you can afford. Now is a good time to look at your spending and make a budget, even if it is a simple one. What works for one person will not always work for you. I can help you to figure out how much home you can afford based on what you feel comfortable spending each month based on your total situation.

"Show me the money"

While many people think you need loads of money for a down payment, it is often not the case. Many programs are available which do not require a down payment. Even though you may not need a down payment, you should have some money available. You will need to pay for an appraisal, you should have a home inspection done for example. Often purchase transactions can be set up where the seller pays some or all of your closing costs.

So where do you start if you would like to buy a home in West Hartford?

With a call to Jon Sigler at HomePro Financial, LLC. Get an idea of what options exist for you today, and how they can help you to purchase your dream home.