Board of Commissioners
Board of Equalization
4/6/2009 10:00:01 AM
12/3/2007 12:53:41 PM
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<br />medium bank with a good marine view and clear, sloping <br />topography. It is currently appraised at $55,000 with and <br />additional $2,500 in value being allotted for the site <br />improvements. <br /> <br />Assessed Valuation: <br /> <br />Land Only: <br />Improvements: <br />Total Valuation: <br /> <br />$ 57,500 <br /> 60,125 <br /> 117,625 <br />$ 41,580 <br /> 60,125 <br /> 101,700 <br /> <br />Petitioner Request: <br /> <br />Land Only: <br />Improvements: <br />Total Valuation: <br /> <br />Petitioner's Testimonv: Mr. Martin stated that all properties in <br />his block are appraised at the same value, yet all lots in that <br />block have different waterfront footage. He explained that he <br />and his neighbors feel that an inequity occurs when Realtors <br />appraise these properties on waterfront footage, while the County <br />Assessor appraises on a site basis. <br /> <br />Mr. Martin noted that he has 61.5 feet, while other lots have <br />more front footage (from 70 feet to 95 feet), such as Lots 1, 2, <br />10, 13, and 14. He noted that if you base the price on a per <br />linear foot basis, some of his neighbors have almost twice as <br />much front footage as he has. He feels that his property is not <br />as valuable as the lots with more frontage and doesn't feel it <br />should be assessed in the same manner. He said that a per site <br />value is unfair, although he has no objection to the appraisal on <br />the buildings. He believes his land is worth $41,580. <br /> <br />Assessor's Testimonv: Jeff Chapman explained that the situation <br />and the Assessor's argument is identical in all five of the <br />Pleasant Harbor Petitions that are before the Board this year. <br />Mr. Martin is correct in stating that the properties are assessed <br />on a site basis rather than a front footage basis. All the lots <br />have water and power. There aren't any bare land sales to use as <br />comparables although there are two improved land sales. <br /> <br />Assessor's Comparables: <br /> <br />Comparable 11: Lot 1 sold in November 1988 for $125,000. <br /> <br />Comparable #2: Lot 9 sold in February 1990 for $130,000. <br />
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