|
subsidizing FEC RR. I wonder if folks like Bob Solari are aware of this?
<br /> Below is a summary comparison of both my SLC and IRC work:
<br /> SLC FDG FP K- SLC FDG Rail SLC FECI
<br /> Owner Name 4 Hldgs SLC FEC RR (Total) Source
<br /> No. of Parcels 11 19 100 130 PA
<br /> FullLanclValue $12,304,600 $837,500 $736,100 $13,878,200 PA
<br /> Full Build ingValue $0 $4,200 $10,800 $15,000 PA
<br /> TotalValue $12,304,600 $841,700 $746,900 $13,893,200 PA
<br /> Acres 317.9 50.3 606.2 974.4 PA
<br /> Market Value per Acre $38,452 $15,984 $44,240 $40,893 TC
<br /> Annual Tax per Acre $790 $587 $1,092 $967 TC
<br /> Tax Yr 2013 2013 2013 2013 TC
<br /> Assessed Value $12,220,115 $804,100 $26,818,893 $39,843,108 TC
<br /> Land Total Just Value $12,220,115 $804,100 $26,818,893 $39,843,108 TC
<br /> Market Value $12,224,100 $804,100 $26,818,893 $39,847,093 TC
<br /> Standard Exemption
<br /> Value $0 $0 $258,400 $258,400 TC
<br /> Standard Taxable Value $12,224,100 $804,100 $26,560,493 $39,588,693 TC
<br /> Total Exemption Value $0 $0 $258,400 $258,400 TC
<br /> Total Tax $251,260 $29,542 $661,896 $942,698 TC
<br /> Total Taxable Value $12,224,100 $804,100 $26,560,493 $39,588,693 TC
<br /> I attach my spreadsheet which contains all the detailed parcel data—now for 2 counties. The
<br /> new IRC data is in the tab called "IRC".
<br /> Do you IRC folks have any real estate, tax, or legal folks, or any other folks, that would have
<br /> experience working with the IRC Property Appraiser's office or the IRC Tax Collector's office,
<br /> who could investigate this anomaly further? I've taken the data about as far as I can right
<br /> now, but I think the IRC folks now need to seek answers as to why there appears to be such a
<br /> discrepancy (or subsidy) in IRC.
<br /> In IRC, I was unable to download the data I needed using the Search functions at the official
<br /> websites of the PA and TC. I wound up telephoning the IRC Tax Collector's office, and they
<br /> graciously ran the report I needed and emailed it to me. I think this was a fruitful analysis of
<br /> FECI's parcel and tax situation in these two counties, and I think I'm now going to turn my
<br /> effort to a similar investigation of Martin and Brevard counties. This has gotten me very
<br /> curious. I think I may start with Martin first—unless any of you know someone else is already
<br /> conducting a similar investigation there in Martin.
<br /> A second unusual fact that appears to fall out of my two-county analysis, is that SLC has 83%
<br /> more parcels, but nearly equal the total Assessed Value on the total Tax Rolls. Land is worth
<br /> 94%as much as in IRC per acre, as compared to SLC. But, it gets worse for SLC. The total
<br /> parcel tax revenue SLC extracts from its parcel owners is 69% higher than the total revenue
<br /> extracted from IRC owners. The average millage rate is 59% higher in SLC. Bottom line, it
<br /> appears to me that the real estate tax burden in SLC is considerably higher in SLC, as
<br /> compared to IRC. Here is the summary data for the total Tax Rolls of the two counties:
<br /> Page 2 of 3
<br />
|