Let’s play “What’s it worth!”

The old Fourth Street fire house up for sale at craigslist and the reader comment prompted us to take a look at a few more assessed values of Columbia properties at this Lancaster County Website.

The site is the way the average citizen can get informed information about properties in Lancaster County; yet the site states, “The Lancaster County Property Assessment office presents the information on this web site as a service to the public. We have tried to ensure that the information contained in this electronic document is accurate. The Assessment office makes no warranty or guarantee concerning the accuracy or reliability of the content at this site or any other sites to which we link. Determining the accuracy and reliability of this information is the responsibility of the user. The Lancaster County Property Assessment office shall not be liable for errors contained herein or for any damages in connection with the use of the information contained herein.”

assessed properties

Another downtown landmark property, the newly refurbished apartments and medical center at 369 Locust Street had identical assessed valued in 2005 and today: $439,500. The now vacant lot catercorner across the intersection at 400 Locust Street was assessed in 2005 (with a structure) at $299,100 and today (as a vacant lot) its assessed value is $16,200.  The apartment building next door at 404 Locust Street held the same assessment then and now at $129,800.

For reference, and out of curiosity, we took a look at a few other properties at the site:

  • This sampling of properties on Front, Locust, Bridge, Chestnut, Second and Third Streets owned by a “little” property owner/landlord had assessed values of $2,073,300 in 2005; $1,132,600, in 2012.
  • This sampling of individually owned “residence” properties on Barber, 13th, Manor, Chestnut, Third, Kinderhook, 11th, Walnut and Ninth Streets, Grinnell Avenue and Ironville Pike had nearly identical (just slightly higher) assessments of $1,496,500 in 2005 and $1,513,400 today.
  • This sampling of properties on Front, Locust, Bridge, Chestnut, Second and Third Streets owned by a “three-initial” property owner/landlord had assessed values of $639,400 in 2005; $612,600, in today.
  • This smaller sampling of properties on Locust and Third Streets owned by a “Big” property owner/landlord had assessed values of $318,500 in 2005; $257,700, in today.

What to make of this non-scientific study of assessed values?

Don’t know but it appears while assessed property values tend to hold for property owners who reside in their properties and some landlords, the opposite seems to be the case other types of property owners/landlords.

Wait a second, don’t lower assessments lead to lower taxes, too.

Wonder what’ll happen at 301 Linden?

Leave a comment