News

July 9, 2008

Pricey properties see big hikes

Big-dollar values soar in reassessment

By Jennifer Learn-Andes jandes@timesleader.com
Luzerne County Reporter
Jennifer Learn-Andes on Facebook   |   @TLJenLearnAndes on Twitter

Fred Dewees doesn’t welcome his ranking among the top 15 highest-valued residential properties in Luzerne County’s reassessment.

He said he bought his Dallas Township property in 1986 for $270,000.

His new assessed value: $1.8 million.

Dewees said there’s no way his 36-acre property would fetch that.

“There is absolutely no justification for the raise in value,” he said.

Dewees said he’s done little to the 1900 farm house on Goodleigh Road since he purchased it -- except for routine maintenance.

His old assessed value was the equivalent of $436,200 which means his property value has more than tripled.

Dewees said he is filing a formal appeal.

“I will take it to the Supreme Court if necessary,” he said.

Frank Henry was equally unhappy to make the top-value list.

His property on School House Road in Lake Township went from a taxable value of $507,800 to a new assessment of $2.8 million. The property is owned by his company, F M Realty.

“We’ll file a formal appeal because we think it needs to be looked at,” Henry said.

He took the biggest hit on land. The property is 866.66 acres. The land is currently valued at $319,000 but will increase to $1.64 million if 21st Century’s value sticks.

Henry said he’s considering enrolling in the Clean and Green land preservation program, though he has to research the restrictions.

His land value would decrease to $173,500 if he participates in Clean and Green, which values parcels 10 acres or larger on their worth as agriculture, woodland, pasture or open space, instead of their value in the real estate market.

The value of the 7,360-square-foot brick house on the property went from $188,800 to $1.18 million, records show.

Presidential Land Co. Inc. received the highest new assessed value for residential property – $3.89 million – for 9.53 acres and several unspecified structures on Orchard Lane in Dallas Township.

21st Century officials say the parcel won’t stay at the top because it is in the process of being split and sold to various owners.

Kenneth and Susan Wallace came in second on the residential list, with a value of $3.6 million for their Goodleigh Drive mansion in Dallas Township. Wallace was not available for comment.

The old assessed value on the parcel was equivalent to $1.7 million.

21st Century has valued the residence at $2.58 million and the 40 acres of land at $1 million.

The land value would be reduced to $164,400 if Wallace enrolls in Clean and Green.

Developer Rob Mericle’s 16,305-square-foot home in Jackson Township ranked 11th on the list of top values, at $1.88 million, but it will likely move to one of the top slots because 21st Century is revising the value to $3 million, officials say.

Tim Barr of 21st Century said properties may be added or removed from top ranking as a result of informal reviews or formal appeals.

PPL’s nuclear power plant in Salem Township is technically top on the list of commercial values, at $248 million. However, the plant is bumped into the second through fourth positions because 21st Century broke it into three $82.6 million parcels.

21st Century officials said the split was necessary because the computer program wasn’t designed to handle numbers that large.

That leaves the Wyoming Valley Mall in Wilkes-Barre Township at the top of the commercial pack, with a new assessed value of $98 million.

The mall is currently valued at about $73 million for taxing purposes, which means the facility is facing a $25 million increase.

Mall officials did not respond to messages seeking comment on the new value.

Pocono Downs in Plains Township received the highest value of tax-exempt properties: $97.9 million. County officials say the facility makes payments to taxing bodies in lieu of taxes.

Full disclosure

Richard L. Connor, editor and publisher of The Times Leader, received assessment increases on his four properties in Lehman Township.

His residence increased from a value of $102,200 to $797,500. That parcel is 9.95 acres.

Another 7.43-acre parcel with a 1930 barn is set to increase from a value of $7,200 to $357,900. A 1.62-acre parcel with a circa 1800 home went from a value of $60,600 to $257,500. A 3-acre vacant land parcel increased from a value of $4,000 to $59,400.

Wilkes-Barre Publishing Co. Inc., which owns The Times Leader, received these new values on six properties, compared to the current market value equivalents:

•Office/printing building in Hughestown: current, $280,000; new, $381,500.

• Parking lot, Wilkes-Barre: current, $43,600; new, $135,500.

• Parking lot, Wilkes-Barre: current, $4,000; new, $35,300.

• Times Leader, Wilkes-Barre: current, $4.5 million; new, $2.2 million.

• Times Leader production building, Wilkes-Barre: current, $2.9 million; new, $1.7 million.

• Parking lot, Wilkes-Barre: current, $43,400; new, $53,100.

Jennifer Learn-Andes, a Times Leader staff writer, may be reached at 831-7333.

Tweet	Follow @TLnews

This story also appears on the following websites...