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Board reduces assessed value of Turner Way vacant lot to match sale price
Summary
The Board granted Merritt and Patricia Peasley's abatement for a 2.01-acre vacant lot at 414 Turner Way, lowering the assessed value from $146,400 to $120,000 based on the sale price.
Merritt and Patricia Peasley filed an abatement for a vacant residential lot at 414 Turner Way, a 2.01-acre parcel that had no view and, as of April 1, 2025, had a building permit issued for a single-family home but no completed construction.
The taxpayer cited the lot's sale price of $120,000 as the best indicator of market value. After review the board found the sale to be the best evidence and reduced the assessed value from $146,400 to $120,000, granting an abatement of $26,400. The motion was made by Dick Tracy and seconded by Jim Rice; the motion carried unanimously.
