Detours: a country in search of direction
On the eve of the election, a reporter and photographer set out for Washington, via America. We tell stories from seven towns, touching on seven issues from politics and real life.
Friday Night Rewind It doesn't matter which team you cheer for. We've got video previews of every high school football program in Hillsborough, Pinellas, Pasco and Hernando County.
When home sales were blazing three years ago, property values soared on the blast of hot air. These days, with sales as cool as Dick Cheney at an Osama bin Laden rally, values are thunking back to earth.
Unless you're Juan Lopez, resident of St. Petersburg's Allendale Terrace neighborhood.
At the height of the housing boom in December 2005, Lopez and his wife, Joyce, paid $250,000 for a rough-around-the-edges 904-square-foot house near 36th Avenue N and Seventh Street. It was built in 1941 and suffered from renter's rot. A new appraisal values the home at $237,000.
Try telling that to Pinellas County. The property appraiser's office values the house at nearly $300,000 and taxed the Lopezes $5,600. Here's the twist: The county admits his house is nearly worthless, but claims his land alone would sell for $300,000.
Granted, the Lopez home squats on the edge of an attractively leafy enclave of brick streets. But facts are stubborn things: Lopez paid $250,000 at market peak for the house and lot. Pinellas property values have since dipped 10 to 20 percent. And the county's acting as if Lopez sleeps atop Saudi oil.
Eager to save money with a baby on the way, Lopez investigated. He was stunned to learn the county raised his 2007 property values by cherry-picking two lot sales during white-hot 2005. Most aggravating is a sale on 25th Avenue, 11 blocks away in Crescent Park Heights.
That lot sold for $200,000, but it turned out to be a speculative purchase by a builder who went bankrupt. He built a luxury home there. It's in foreclosure. Yet this is what passes in Lopez's case for a "comparable sale."
A cursory look at the tax rolls suggests the problem goes well beyond Lopez. How does government justify muscular appraisals when the market's a 95-pound weakling?
[Last modified: Jun 09, 2008 10:05 AM]
Comments on this article
by Mike
Jun 9, 2008 10:05 AM
Govenor Crist said out taxes would go down. What happened? They found another way to collect even more in taxes while our property value plumets.You will never see CHANGE in goverment including the Presidency. We need tax based on current values.
by George
Jun 9, 2008 10:05 AM
Mr. Lopez case is repeated across south Florida, The property taxes are a scam, they need to be appraised at current market and need to come down ASAP or they will brake everyones back and counties will find no more succers to pay property taxes.
by baba
Jun 9, 2008 10:05 AM
Note to the Lopez's
The dump ain't worth the new appraisal either.
by Donald
Jun 9, 2008 10:05 AM
It is obvious that the "appaisers" in the County office aren't professionals who have know the defintion of a comparable. The text "Princples Of Real Estate" by Ring (professor of realestate, University Of Florida) & North, taught me in 1964.
by Sally
Jun 9, 2008 10:05 AM
Jim Smith resigned, a new appraiser will be elected this year.
by Gina
Jun 9, 2008 10:05 AM
Hey folks, this is why we need to pay attention to the elections. A new property appraiser will be elected. Look at the credentials and ask questions of the candidates. If you aren't involved you can't complain!
by Concerned
Jun 9, 2008 10:05 AM
The current property appraiser's office is a joke. It is now time to put real appraiser in office rather than a politician. Take a strong look at Frank Gregoire who is running with over 30 years as a professonial appraiser!
by Piobair
Jun 8, 2008 9:07 AM
It's not just property taxes. Anticipating a rise in property taxes our escrow company raised our mortgage payment too, despite our home LOOSING $20,000 in value.
It's nothing short of legalized fraud on a massive scale.
by Sean
Jun 6, 2008 5:13 PM
They actually increased the "Comp Sales Value" of my home each of the last two years. I paid $350k in 2006, they now say it's worth $405k, and it's been on the market at $299k for 6 months with no offers. It's a joke. Fire Jim Smith!
by Bland
Jun 6, 2008 5:12 PM
Go to arbitration after you get your trim notice in fall. Pay $1,000 to a well respected appraiser the county uses like Fred La Due & Associates or Mike Twitty. Your assessment will go down. County Tax Assessors Office does not like controversy.
by Allen
Jun 6, 2008 5:12 PM
In Atlanta we sue the property appraiser en mass - Are y'all not allowed too? Do you have any property owner assn's?
by Bill
Jun 6, 2008 9:00 AM
I'll gladly sell my house to the county with a 15% discount to the "Comparable Sales Value" those knuckleheads think it's worth. Perhaps the government should back up with its values with a discounted offer. That would make them more conservative.
by Ronnie
Jun 6, 2008 9:00 AM
How you ask? Because in the end government takes what it can and gives nothing back. How about a comparison of the rate of increase during the boom to the rate of decrease since the bubble popped.
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