Assessments: Do as I Say; Not as I Do

It is fairly common knowledge that the City Assessor got stuck in 2007 and has yet failed to wake up to real property Fair Market Values (FMV).

But someone in the City government is wise to it.

The Planning Department wants to purchase the property owned by the County at 1132 Irving Place for its Neighborhood Stabilization Program. The property is assessed at $36,000.

The maximum authorized for the purchase is $10,050, or about 27% of the FMV established by the City Assessor.

(These notes from the Common Council meeting 10/20/09)