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Property owner says 1983 deed restrictions and a large sign have kept commercial corner unsellable; assessor offers $325,000 valuation
Summary
At a Board of Equalization hearing, a representative for Town & Country parcels said restrictive covenants dating to 1983 and a large on‑site sign have deterred buyers; the assessor proposed reducing the combined valuation to $325,000 and the board deferred final decision to Thursday.
At a Board of Equalization hearing on June 15 over two Town & Country commercial parcels (BOE #159), the property owner’s representative outlined a decades‑long dispute over deed restrictions and a large on‑site sign that the representative said made the corner effectively unsellable.
The representative told the board that the parcels were sold to a department‑store company in 1983 under a lease/purchase structure and that a clause in the agreement (cited by the representative as section 35 or 3510) “says that all of these restrictions from this lease will run with the land in perpetuity.” The representative said that the covenant prevents many typical corner uses — including restaurants with drive‑throughs — and that the sign owned by the neighboring tenant, Anony’s TV & Appliance, “blocks the view of their building from the intersection,” deterring potential buyers.
The assessor explained the office’s market approach and said values generally are determined by sales of comparable land. The assessor told the board the assessor’s office was treating the two parcels as part of a larger economic unit and, after applying its methodology and minor adjustments for improvements, offered a proposed updated combined valuation of $325,000 for the parcels. "Land values are determined by sales of other land in the area," the assessor said when asked about the comparables and market approach.
Board Chair Elanar Thompson confirmed that the board will decide after the hearing week and that a formal decision will be issued Thursday and mailed thereafter. The taxpayer said the parties would “consider” the assessor’s $325,000 number; the hearing record shows the board closed BOE #159 and scheduled the formal decision for later in the week.
No final fair‑market value was announced on the record that day; the board indicated it would deliberate and issue written decisions following the holiday and staff review.
