Suddenly, I'm a land magnate!


I got my letter Friday. It was from Janis, the one who tells everyone how much his or her property is worth.

The first paragraph tells us that the law requires that assessments be based on fair market value - oops, scratch the fair part. Based on market value. Then it says the last assessment was in 2005, and that it is meant to reflect changes in the market value of my property from 2005 to present.

Janis, where have you been? Have you noticed all the houses up for sale in Franklin? Do you see them actually being sold?

I love this next part: "While the market at present seems to be leveling off." That's the nice way of saying that you can't sell your house, even if you wanted to. Here is another question: What does "80 to 85 percent range mean"? Is that the percentage of my income you want for taxes? Or what the property is really worth?

Here's the kicker: "of what could be expected if the property were to be sold on the open market today." Hey Janis, look around - there is no open market today.

Now here comes the little chart that tells me how much I have been assessed for. Overnight I have become a land baron! Oh that's just for tax purposes. Sell if for that? Insure it for that? I wish!

Aww, the promise of the tax rate falling correspondingly. But that is this year, and it's just a promise. What about next year when my property is already over-assessed and the tax rate goes back up?

Richard Gordon
Franklin