Some Satisfaction

In December I received the notification of the new assessment of the old farm house and the properties on which she sits.  I was, to say the least, not pleased with what I read on the "experts'" assessments of this place.  The value, so they claimed, had doubled in the five years between assessments, never mind the fact that on every corner, there is an abandoned structure, or a property undergoing foreclosure, or a house for sale, one that has been "on the market" for a year or more.  Never mind the fact that there simply is NOT a huge demand for property in this county, tucked neatly away from almost all modern conveniences.  And certainly never mind the fact that the folks performing the reassessment are not "from here" and so perceive property through the eyes of those in metropolitan areas, complete with competition for space and water location.

The fact of the matter is that here, in this county, there is waterfront and then there is under water.  The waterfront owners are just as much up in arms about the reassessment because they do not want to pay taxes on the REAL value of there homes, but DEFINITELY want to get the real value when selling. The rest of us are in a constant battle to keep our properties from sinking into the moist wet ground that defines this county.  Still, they DID provide us a venue to appeal the reassessment numbers.

We went armed with plats and pictures, and, dressed in our "normal" attire (that means I was in overalls, and we were both bundled up against the cold, including our knit caps), we arrived for our appointment. As we waited our turn, I overheard the conversations of others.  I had to admire some of creativity of those property owners who had multiple, desirable properties.....

Dressed and Ready to Fight City Hall! 

Our turn came and I was surprised by some of the answers we received to our questions.  For instance, though these folks had never actually been ON the property, they had concluded that the old farm house was not only of historical value (I agree) but was in decent shape HAH!  The response I found most disturbing, to be honest, was the response to why the undeveloped land had supposedly appreciated four-fold in the five year interval.  The first part of the answer I was expecting.... "oh, well, the land has always been UNDERVALUED." Really?  Is THAT why this place is so darned congested, with everyone clamoring for an opportunity to purchase this horrifically undervalued land?  Ummm... yeah, right!  However, it was the second part of his response that bothered me more.

It seems that the land is valued at twice the value of the timbered trees.  Yes, you read that correctly.  Wooded lots are considered for their timber value. Why?  Because, according to this qualified land assessor, when times get tough, land owners timber their trees to pay the bills.  OK, so, let me get this straight.  This county WANTS/EXPECTS land owners to timber their trees, which will result in even less value to the land as it becomes even more underwater.  So, since our wooded land falls into the category of, "timbered within the past 10 years," meaning it will not be ready for timbering again for another 10 years, we had to request that they reconsider the value of our wooded property.

When we left the assessor's office, I was hopeful they would, as they promised, take another look at how we were assessed on the three parcels that combine to make the 10 acres on which this old farm house sits, and reassess the reassessment accordingly.  That was December 6, 2010.  Last week I received the good news that our reassessments indeed had been performed and the numbers were now lower across the board.  Rather than the 100% increase over the five year period, we only now supposedly have appreciated 50%, so my property values are now 1 1/2 times what they were in 2005.

I still disagree with this valuation of the property, but I suppose I will "live with it."  One day, when all the struggling land owners in the county, timber their trees and use up the proceeds, and then find themselves unable to sell the land, ending up in foreclosure.... I imagine those with the valuable waterfront property will snap up the stripped land for pennies on the dollar.... because, seriously, that IS what it is worth.  Nevertheless, in the meanwhile, we will be working hard to get this property into a condition which meets the assessed value of the place. It will probably take us five years, but we will eventually get there!

Some satisfaction, I suppose, is better than nothing!

Timber .... Let me COUNT the $$$$!