Benchley Home Sells for $2.5 Million
The former home of acclaimed best-selling author Peter Benchley recently sold for $2.55 million, according to real estate records.
The house on Boudinot Street in the western section of Princeton Borough includes a film screening room, a commercial kitchen, and an addition by architect Jerry Ford. The property taxes on the 1.1 acre property were $43,373 in 2011, according to property tax records. The home was assessed at $2.1 million in 2011.
Benchley, who wrote Jaws, died in 2006. He was married to former Borough Councilwoman Wendy Benchley, who put the Boudinot Street house on the market this spring.
Princeton’s property “Reassessment’ conducted in 2009 decreased the assessments of expensive properties like this one and hugely increased the property values of lower-priced houses. “Just the market forces” we were told. Arguments that it was incorrect and unjust were dismissed. Data showing its inequities were ignored.
This house sold for $455,000 more than its re-assessed value. Princeton needs a re-reassessment to correct the appalling injustice committed in 2009.
The home sold for 82% of assessed value. If you look at sales in lower-priced neighborhoods since reassessment, you will see that, on average, they are selling at an even lower percentage of assessed value (meaning that all assessments remain at a discount to real market value). Learn to pay your fair share Anthony.
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