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r JAN I 11994 <br />4. 12936 100th Place - Residential Structure <br />Parcel# 00-31-37-00002-0000-00010.0 <br />Owner: Jim and Hazel McCloud <br />BOOK 91 pnF.493 <br />a. Inspection by Building Department <br />b. Certified Notice to owner, returned unclaimed by Postal Service. <br />C. Posted property with condemnat%n cards <br />d. Photographs on file <br />e. Notice to holders of outstanding Tax Certificates of January 11th Board <br />of County Commission Meeting and staff recommended action. <br />f. Neighbors advised owners are deceased, Health Department has no <br />record of death certificates issued by Indian River County. <br />g. Public Notice to all interested parties in Vero Beach Press Journal. <br />A. C. Nichols, explained that he bought a tax certificate on <br />this piece of property in 1992 and another in 1993. He has been <br />buying tax certificates in this county for 7 years because he <br />thought it was a very safe investment. However, when he received <br />a letter about the plans to demolish the building, he immediately <br />drove out there and finally located the property with help from a <br />Deputy Sheriff. The property is in a very dangerous neighborhood <br />and is covered with rubbish. The most disturbing thing is that the <br />lot is only 40 feet wide and, therefore, unbuildable. Mr. Nichols <br />felt the Property Appraiser's Office failed to appraise the <br />property correctly. One of Mr. Nolte's assistants told him that <br />the appraised value was $12,000, but they went out on November 3, <br />1993, and reappraised the property at $6,000. Later he found out <br />that the appraised value had been further reduced to $1,360, which <br />he felt is still $1,000 too high because he didn't think anyone <br />would buy the building. The owners, Jim and Hazel McCloud are <br />dead, and his two tax certificates of $450 each are worthless. He <br />felt the County should reimburse him for those two certificates. <br />Chairman Tippin advised that the Board has no control over the <br />tax certificates. <br />Attorney Vitunac felt that Mr. Nichols should know that it is <br />"buyer beware" situation with regard to the sale of tax <br />certificates. Tax certificates pay a high amount of interest <br />because there is a risk. It looks like this will be a loss to Mr. <br />Nichols, but the County is unable to return his money. That is a <br />function of the Tax Collector's Office, but the law is in favor <br />that you buy at your own risk. <br />Mr. Nichols believed he could prove the property was appraised <br />wrong through error or negligence. He added that prior to 1992, he <br />never heard one word mentioned about there being any risk involved <br />in buying these tax certificates. <br />50 <br />