Wolfman speaks on Housing values

 

With permission His views are his own

Housing Values

 

Property Values, Assessed Values and The City of Racine. Should you be concerned?

“RACINE — The City of Racine has been awarded $120,000 to demolish nine blighted residential properties, Gov. Scott Walker’s office announced Wednesday.

The homes set to be demolished were chosen because they are foreclosures in tax delinquency. They also are vacant or significantly deteriorated and are in areas the city has targeted for redevelopment, O’Connell said.

The homes pose problems because they discourage neighbors from fixing up their own properties, lower the appeal of a neighborhood and continue to deteriorate over time, O’Connell said.”

http://www.journaltimes.com/news/local/govt-and-politics/racine-awarded-to-demolish-blighted-homes/article_26c37836-dc98-11e1-ac70-0019bb2963f4.html

Ok I thought – SO – What is a blighted home that is deteriorated beyond the point of rehabilitation and scheduled for demolition worth?

Each home will be listed by address, then the 2012 assessed value given. I will then add all the assessed values together, divide by the number of properties (9) to establish what I call the “AVERAGE OVER ASSESSMENT OF PROPERTY VALUE IN THE CITY OF RACINE”.

617 8th St. 2012 Assessed Value: $73,000
1310 11th St. 2012 Assessed Value: $41,000
510 15th St. 2012 Assessed Value: $41,000
1804 Franklin St. 2012 Assessed Value: $62,000
1809 Franklin St. 2012 Assessed Value: $84,000
1801 Grand Ave. 2012 Assessed Value: $70,000
1308 Howe St. 2012 Assessed Value: $35,000
713 9th St. 2012 Assessed Value: $40,000
1606 Villa St. 2012 Assessed Value: $71,000
TOTAL VALUE: $517,000
divide by 9 properties = $57,444

AVERAGE OVER ASSESSMENT OF HOME IN RACINE = $57,000 (rounded)

“There are just some houses that are so bad that you really can’t do anything with them and even developers don’t want to develop them because there’s so much work to it,” Racine Mayor John Dickert said.

If you are a resident of Racine – you need to have your home REALISTICALLY assessed – and have your property record updated. You will need to challenge the current over assessment by the City – the process is detailed on the City of Racine site – and begin NOW! Get together with your neighbors and also call your Alderman – working as a group will help to ensure success in getting the correction to your over assessment made. You WILL save hundreds, and some will save $1,000 or more! With another huge tax increase slated for 2013 you cannot afford to let the City of Racine gouge you again!

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