Woodridge Golf Club appeals market value
PARKERSBURG – Woodridge Plantation Golf Club is again challenging the value placed on the Mineral Wells golf course and clubhouse.
Although not appearing in person at a hearing Thursday, Ted Malkove with Altus Group, a realtor tax consulting firm that works for Orix Capital Markets, owner of the club, asked Wood County commissioners, sitting as the Board of Equalization and Review, to reduce the value on the course and clubhouse. At a similar commercial property appeal hearing last year, the golf course asked the value be reduced from $1,520,200 to $650,000.
“They asked that the same evidence they presented last year be submitted again,” county administrator Marty Seufer told the commissioners.
Following the appeal last year, the commission lowered the value on Woodridge to $1,202,100. Board overrides on values are only in effect for one year.
The vote last year to change Woodridge’s value was unanimous, then the commissioners decided to extend the discount to the other public golf courses in Wood County: South Hills, Worthington and Golf Club of West Virginia. That action passed on a 2-1 vote with Commissioner Steve Gainer voting no.
During Thursday’s hearing, Commissioner Blair Couch asked if there had been any offers on the Woodridge property.
Ted Daugherty, who owns other golf clubs in the area, had made an offer, assessor’s office appraiser Steve Sheppard said.
Daugherty said he had previously offered the owners $1.1 million for the club. The offer was accepted, but Daugherty said the deal was rejected after he learned mineral rights for the property were not included.
“We have talked since then, but they would not include the mineral rights,” Daugherty said.
Sheppard said the 2013 value set by the assessor’s office for Woodridge is $1,454,600.
Daugherty, who attended Thursday’s hearing, asked the commission for the same consideration this year for the other clubs if Woodridge’s value is lowered. Officials noted the Golf Club of West Virginia had sold for $800,000.
“Overall, the industry is down just like the economy, that is true all over the country. It’s really hard in this area, extremely hard, if people don’t have jobs, they don’t have the time or the money to spend playing golf,” he said. “Last year was somewhat up, but that was partly because the year before was the worst I’ve seen in 30 years.”
Daughterty noted numbers might have been better for the past year, but the weather was a factor with the summer storms.
The board will make its final rulings on appeals at the end of the month.