LNP is appealing the tax assessment of many of their West King Street properties. As you deal in real estate, I was wondering what you thought of these values:
Property Current Assesment
4 W. King $ 863,400
8 W. King 1,680,500
12 W. King 641,500
16 W. King 846,300
24 W. King 358,300
26 W. King 772,100
30 W, King 191,600
34 W. King 164,000
38 W. King 205,500
35 S. Prince 7,027,500
It seems to me some of them are very low – 34 and 38 W. King for example. The parking garage I have no idea.
EDITOR: To the extent that these facilities are designed for the single purpose use of publishing a newspaper, appraisals should take into consideration their likely lesser future value for a diffent use. Given the poor prospect for local newspapers publications due to the Internet, it is not surprising that LNP would be seeking assessment relief.
Only one of these properties is used for publishing a paper – 8 W. King Street.
Given the profits being given to LNP from the TAXPARER FINANCED Marriott Hotel….it is ludicrous and downright immoral for LNP to ask for any concessions on real estate.
The arrogance of LNP is overwhelming.
A more accurate description of them must be saved for a non-public forum.
Their building at 8 W. King Street would make a great ‘spill-over’ casino when the CC is relegated to being one as well.