WSPA-TV Television crew visited a group of Over Hill subdivision residents to hear complaints about their property valuations increasing by over three times. Since property taxes are based on the property valuations, it is expected that their property taxes will triple. Most of the residents of Over Hill subdivision are retired and have no way to pay these additional taxes on their properties.
The most significant point of disagreement with the valuation is that the properties in the subdivision are NOT comparable to other properties that have sold for high dollar amounts.
There are covenants and restrictions on these subdivision properties that make the properties very different from properties that have sold nearby.
These Over Hill subdivision properties:
- Cannot be used for any commercial purpose.
- They cannot be subdivided.
- There are a number of covenants and restrictions that cannot be changed by the purchaser
They cannot be used for any purpose that the previously purchased properties nearer to Tryon International Equestrian Center (TIEC) were purchased for. Interestingly, the lands purchased by TIEC already are valued at a lower value per acre than the values assigned to these subdivision properties. That information was gleaned from the GIS software on the internet.
Remarkably, only a couple years ago, two of the 13 properties were purchased BELOW the appraised value during the TIEC building blitz. Now that IS a comparable property because it is in the same subdivision.
We are confident that once the appraisers learn that our properties are not comparable to the properties already purchased by TIEC, they will want to rethink and adjust the valuations.
Here is the video that aired on WSPA-TV at 11:15 PM Wednesday, March 8, 2017.
the Click Here to watch Video