Price cut on Macpherson

One Macpherson Drive, $4.850 million, down from its opening price a month ago of $5.250. Great, 1929 house, beautifully renovated, on an excellent street. Well worth seeing if it’s in your range.

Looking up its tax card, I was struck by the town’s appraisal (100%, not the 70% appraised value), of just $2,401,500. That’s ridiculous: 145 Weaver Street, discussed below, is appraised at $2,798,800. The latter may be too high; the former is way, way too low.

In fact, Greenwich’s entire appraisal process is out of whack. Pal Nancy’s and my own house on Riverside saw a jump in property tax from $6,000 in 2015 to $15,200 in 2016. Conceding that the original tax was probably low, bumping it to $15 in one year was brutal. So we sold it, at far less than the town’s valuation of $1.8+.

Our tax system is broken.