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Recent $275,000 purchase prompts big reassessment after added basement and three-season room
Summary
After a $275,000 sale, staff added basement finish and a three-season room to the record and raised the structure value from about $123,925 to $214,650, bringing total assessed value to about $219,060 — still below the purchase price, staff said.
Staff reviewed a recent home purchase and said the new owners, Caleb and Alicia Cease, bought the property for $275,000. During review staff noticed an existing three-season room and basement finish on listing photos and added those features to the assessment record, increasing the structure value from approximately $123,925 to $214,650 and total assessed value to about $219,060 (Staff member: SEG 502-516).
Staff noted that even after the update the assessed total remained "quite a ways off" from the $275,000 purchase price and offered to provide further information to the owners. The board approved the package of changes during the meeting; staff will finalize records and notify affected owners.
