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Proper property tax appraisal

February 2, 2011 - Jody Murphy
What am I missing here?

Wood County resident Clay Cochran, who owns 44 acres of land with several buildings on it filed an appeal with the Board of Equalization and Review, aka the Wood County Commission. Cochran's property is valued at $23,800.

Forty-four acres of land valued at $23,800? That's less than $550 an acre. Cochran pays $75.79 in property taxes. He's complaining to the board because his property value appraisal rose from $11,500 to $23,800 and his tax would increase from $75.79 to $156.85.

I don't know what you pay in property tax, but I don't mind telling you I pay about four or five times that much - for my house and yard inside the city limits, which is much, much less than a 44 acre (non-residential) spread with a buildings and a pole barn. Why is it those with more (land) are paying less? And still bitching about it!?

I understand Cochran is working the system, taking advantage of the farm tax credits, for which he receives and 80 percent discount on property tax for his farmland. Eighty Percent!

I am a little skeptical of the whole thing. For one, you can't purchase too many plots of land in this area for less than a $550 an acre. Less than $250 an acre if you go his 2010 appraisal. That includes land that's only use might be for hunting. So Cochran's land is worth much less than a $1,000 an acre, yet it's sustainable enough to raise enough crops to qualify for a farm tax credit and an 80 percent discount on his property tax?

Something doesn't seem right here.

 
 

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