Talk about losing money on your house in the city (combined with the mayor violating state law!) I heard this on the radio the other morning, the previous seller of the house spoke of it.
The house is on Garner Ave, so it’s a nicer, upscale area of the city.
In the last citywide reassessment in 2010, it was assessed for $162,500 (i.e., at that time, assessment value and full market value were equal, well, in theory).
The house was put up for sale in 2012 and sold for $105,000 in August.
The owners obviously did not realize the humongous taxes and put the house up for sale in July 2014 under MLS # 201415789. Notice, this is LESS THAN TWO YEARS!
It took just about a year to sell and sold for a WHOPPING, get this, a WHOPPING
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Drum roll please ……
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$55,000 !!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Cheer Cheer RAH RAH, shake those pom poms, the city is improving, the mayor and his team are doing a “wonderful” job, “
Re-elect McCarthy 2015”
REALLY?????? Well you can get a good laugh out of it.
We first learned about this house in 2012, when that Certified Financial Planner, Sanford Family, spoke about the grievance to the board of assessment in 2012. His elderly mother owned the house. He spoke on the radio just after July 1, 2012 stating that the Board of Assessment denied ANY reduction in assessment. The house had been listed for sale with an asking price of $119,900 and there were no willing buyers at that price, so that proves that the house was NOT even worth $119,900. The asking price had been reduced to $114,900, but the mayor’s cronies on the Board of Assessment still kept the assessment at $162,500; the board insisted that the house would sell for $156,000 (equalization rate 104% in 2012).
Family said on the radio that he had just received the denial from the Board of Assessment, claiming “denied insufficient data” and that he would have hired an attorney to sue the city (certiorari, I'm sure) if they had not gotten an offer. So he went no further.
The house sold for $105,000 in August 2012.
The new owners had not grieved the assessment in 2013 or 2014.
In July 2014, the new owners of that house put the house up for sale, asking $99,900. In September they lowered the asking price to $94,900. In January this year, 2015, they lowered the asking price to $89,900. Taxes indicated were just under $7,800 !!!!
This year, in 2015, those new owners, did grieve the assessment. Now come on, talk, about an INCOMPETENT board of assessment. Given the FACT that the house sold for $105,000 in 2012, and given the FACT that home values in the city tanked 17% from 2012 to 2015, which means the house this year has a market value of $87,150. The asking price had been lowered to $89,900 back in January and STILL no willing buyers. The board of assessment had an obligation to reduce the assessment this year to no more than $108,000. However, the INCOMPETENT Board of Assessment reduced the assessment to $145,200, which means these board members insist that the house WILL SELL FOR $120,000.
The house was not worth that much three years ago, values tanked an additional 17% since the last sale, but the INCOMPETENT cronies of the INCOMPETENT mayor claim that the house is worth $120,000.
And the house sold for $55,000
Now, given McCarthy’s clear violation of state laws, and given his appointing an unqualified assessor, and given that he has appointed unqualified cronies to the board of assessment, who is willing to say that the McCarthy should be re-elected in 2015?
To improve the city, share this information with everyone you know that lives in the city to help prevent McCarthy from being re-elected. So much of what goes on in the city is spreading to the towns.
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