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The Assessors office has revised the 2009 assessed value of the RCC land from $957,800 Commercial Appraisal to $139,600 Residential status.
They are sending us forms to appeal the appraisals for both 2009 and 2010, so these values COULD go DOWN even more.
2009 Commercial Property Taxes were : County $15,401.42 + 924.08 (Delinquent Taxes) and City of Memphis 12,243.37 + 1,132.14 (Delinquent Taxes) totaling $29,701.01.
2009 Residential Property Taxes without delinquent fees based on land value of $139,600 are : County $1,402.98 and City $1,115.30 Totaling $2,518.28
This is a reduction of $27,182.73.
2008 Residential Property Taxes based on assessment of $55,400 were: County $ 559.54 and City of Memphis $ 450.12 totaling $1,009.66.
I intend to file the appeal paperwork and see if we can get it back to the 2008 assessment of approximately $55,400 or less and see might happens. Most property values went down in the 2009 Reappraisals cycle and this land should be no different.
I'm feeling very optimistic about the future of this land and OUR COMMUNITY Organization.
I'm wanting to KEEP the land and develop it into a Community Park and Garden.
The connections that the Raleigh Community Council have made with Memphis City/ Shelby County / State of Tennessee elected and appointed officials and agencies, Tennessee State University (Urban Garden Program), Habitat for Humanity, West Tennessee Foresters Assoc., and Memphis business owners mean that WE CAN MAKE THIS PROJECT HAPPEN! Planning this year with ground breaking in the Fall 2010.
CLICK HERE to see a map and description of out property on the Shelby County Register of Deeds' web site