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<br /> <br />1820 Jefferson Street <br />PO Box 1220 <br />Port Townsend, WA 98368 <br /> <br />James. A, DeLeo, District 1 William S. Marlow, District 2 Richard A. Broders, District 3 <br /> <br />JEFFERSON COUNTY BOARD OF EQUALIZA nON <br />MINUTES <br />AUGUST 4, 1999 <br /> <br />William S. Marlow <br />Richard A. Broders <br />James A. DeLeo <br /> <br />Chairman <br />Vice-Chairman <br />Member <br /> <br />Chairman William S. Marlow called the meeting to order at 9:30 a.m. in the presence of Vice-Chairman <br />Richard A. Broders and Member James A. DeLeo. <br /> <br />HEARINGS <br /> <br />Dennis & Kay Pownall <br />283658 Hwy. 101 <br />Port Townsend, W A 98368 <br /> <br />BOE: 99-18-LO <br /> <br />PN: 902 264 013 <br /> <br />Mr. and Mrs. Pownall were present. Appraiser Robert Kingsley represented the Assessor's office. Chairman <br />Marlow swore them in. The property under appeal consists of three (3) residential bare land lots located at <br />283658 Highway 101 in Port Townsend. Mr. Pownall presented a map outlining the parcel he is appealing. He <br />stated that the previous owner approached him at least three (3) times over the last year about purchasing the <br />property. Initially, he was not interested in purchasing the property and did not have the money to do so. When <br />he was finally interested in the property, he purchased it for $7,500 ($2,500 per lot). The property is currently <br />assessed at $10,500 ($3,500 per lot). The lots cannot be developed as they are swampy and wet. He believes <br />the purchase price reflects fair market value. <br /> <br />Mr. Kingsley questioned whether or not the property was placed on the open market prior to the appellants' <br />purchase. Since the previous owner approached the appellants about purchasing the property so many times, it <br />may have been that he was under duress to sell the property, which would mean that the purchase was not an <br />"arms length transaction". Mr. Kingsley discussed the purchase price and the current assessment of the <br />adjacent property also owned by the appellants, stating that the combined assessment of the adjacent property <br />and the property under appeal are valued less than the combined total of the two purchases. <br /> <br />Phone (3601385-9100 ! 1-800-831-2678 Fax (360)385-9382 <br />