The official appraisals on the two parcels involved in the controversial Haddam land swap are in. As of Monday morning, the specific details, however, had not been released by the state. A report by the Hartford Courant is speculating that the difference between the parcels is about $1 million.

The issue of the value of both properties has become central to the land swap controversy because Connecticut law requires that any state land involved in a swap be of greater or equal value to the property for which it would be traded.

Dennis Schain, communications director for the state's Department of Energy and Environmental Protection, said today that "the public act authorizing this and DEEP’s policies require that any swap be for lands of equal value. We will not deviate from that standard. If a package of land and/or money determined to be of equal value to the state-owned land is not offered this transaction will not move forward.”

Dwayne Gardner, a spokesman for the DEEP, said the agency can not release the appraisals, or detailis of them, because it still in the process of trying to swap the state land for the Higganum parcel.

“I can say that the land being offered to the state in exchange for the state property along the CT River has been appraised at a dollar amount lower than the state property.” 

According to an earlier report, the 17.4 acre plot of land in Tylerville, which overlooks the Connecticut River across from the Goodspeed Opera House, was assessed back in 2009 at $1,088,500. During a revaluation of all properties in 2010, however, the new assessment was set at $120,000.

When residents brought that figure to the attention of Assessor Marilyn R. Baumann last year to question the dramatic decrease, Baumann said the new assessment was wrong and was the result of a clerical error. A review of the property followed, and the new assessment was re-set at $300,540.

While the river land’s assessment is greater than the developer-owned Higganum land, the second property in the land swap proposal, it still represents a more than 70 percent decrease in assessed value in one year. The town's revised  assessment also brought the river land’s value much closer to that of the 87 acres in Higganum. The Higganum property was last assessed at $226,900.

Vision Appraisal Technology of Northborough, Mass. assessed the two properties. The company oversees assessment data collection for many Connecticut towns.

According to the last public appraisals, the difference in property value would be under $80,000. If speculation is correct, the most recent evaluations might reflect a value difference of around $1 million.

“We hope to resolve this issue soon in the manner most beneficial to state residents.  At that time we will also be able to fully disclose the land appraisal value and the resolution agreed to by the state and by the owner,” Gardner says.

The Riverhouse owners have proposed using the 17.8 acres, which abut their banquet facility property, to build a boutique hotel and associated retail space. The plan, they said, would augment their business and boost the town’s economy.

Opponents, however, have decried the idea and have questioned its economic benefits. They also have said swapping state-owned land would set a dangerous precedent for other potential land sales or donations Connecticut residents might make.