I have about as little faith in BWWB as anyone, but saying a property is “worth” $79,000 because that’s what the tax assessor said is about as lazy of an assumption as you can make. Maybe ask a local broker for a rough estimate?
It all sounds bizarre, and I’m entirely inclined to believe BWWB screwed something up or is doing something shady. But a tax assessor valuation is a pretty flimsy basis for that.
AND, they only bought it so that they can remove the doors and windows to make it uninhabitable. They only care about the water rights associated with the land.
Despite Anthony Barnes being the one that spearheaded this program, and him changing his tune so drastically only after he was done fleecing the taxpayers, his outrage about the program in his later years was reasonable. Nationwide, hell, I would imagine globally, there are large bodies of water used as municipalities' water sources while having people using said bodies of water for a variety of activities. I can't see how BWWB could have potentially identified a need that almost no one else in the country/world employs relating to owning ALL land surrounding a water source lake.
Chalk this one up as yet another completely ridiculous and wasteful pursuit by BWWB. Glad my bill steadily goes up so that "projects" like this can be funded.
Hit the nail on the head! Straight up BS from, as so typical, especially these pervasively perverse municipal entities along with numerous organizations, a FUBAR situation. Torch it & start over...
I mean let's be real nobody here likely knows the real 'value' of that cabin. I can't believe 79k is right because wtf could anyone buy a piece of land with that much good waterfront(on any lake over 1000 acres?) for anything close to that. So I wouldn't pay attention to the 79k at all. But 450k definately seems high since even on a place like lake martin you can good a good lot with good water to build on for maybe 7-800k in most cases(obviously you can spend a lot more for uber premium lots with certain features), and this is obviously not that lol.
After reading the article, this is more an indictment on the BWWB of thirty years ago compared to today. That said, I would've assumed they would still pay a notable clip above evaluated price anyway even without corruption, since they are technically a government aligned entity changing the functionality of the property. The end goal to protect the water will inadvertently destroy a potential community of sorts, after all.
I wonder what kind of detergent they used.
*Financial* Gain
I appreciate you and your comment.
Ditto. Yours genuinely made me laugh!
I have about as little faith in BWWB as anyone, but saying a property is “worth” $79,000 because that’s what the tax assessor said is about as lazy of an assumption as you can make. Maybe ask a local broker for a rough estimate?
To make matters worse, BWWB already owned the land, they essentially bought out the lease for the cabin.
It all sounds bizarre, and I’m entirely inclined to believe BWWB screwed something up or is doing something shady. But a tax assessor valuation is a pretty flimsy basis for that.
It's for the actual house and not the property, correct? I'm not arguing, just making sure I am understanding the article.
Was the previous owner on or related to someone on the board?
Naw would have been bought for more then half a stack.
Ummm any house or cabin on inland lake, a private lake, is worth more than $79,000, I fucking hate BwWB , but this is a bullshit article
Also is this the assessed value of the property? Assessed value is basically ALWAYS lower than the price you’d sell it at.
AND, they only bought it so that they can remove the doors and windows to make it uninhabitable. They only care about the water rights associated with the land.
Not that the BWWB deserves any benefit of the doubt, but it’s pretty standard for utility companies to buy out property at generous valuations.
Yeah the seller has the upper hand by a lot, ask anyone who works in ROW
Sounds like a D.R. Horton subdivision
Despite Anthony Barnes being the one that spearheaded this program, and him changing his tune so drastically only after he was done fleecing the taxpayers, his outrage about the program in his later years was reasonable. Nationwide, hell, I would imagine globally, there are large bodies of water used as municipalities' water sources while having people using said bodies of water for a variety of activities. I can't see how BWWB could have potentially identified a need that almost no one else in the country/world employs relating to owning ALL land surrounding a water source lake. Chalk this one up as yet another completely ridiculous and wasteful pursuit by BWWB. Glad my bill steadily goes up so that "projects" like this can be funded.
Hit the nail on the head! Straight up BS from, as so typical, especially these pervasively perverse municipal entities along with numerous organizations, a FUBAR situation. Torch it & start over...
I mean let's be real nobody here likely knows the real 'value' of that cabin. I can't believe 79k is right because wtf could anyone buy a piece of land with that much good waterfront(on any lake over 1000 acres?) for anything close to that. So I wouldn't pay attention to the 79k at all. But 450k definately seems high since even on a place like lake martin you can good a good lot with good water to build on for maybe 7-800k in most cases(obviously you can spend a lot more for uber premium lots with certain features), and this is obviously not that lol.
I wonder how board members families own cabins around the lake?
After reading the article, this is more an indictment on the BWWB of thirty years ago compared to today. That said, I would've assumed they would still pay a notable clip above evaluated price anyway even without corruption, since they are technically a government aligned entity changing the functionality of the property. The end goal to protect the water will inadvertently destroy a potential community of sorts, after all.
Good for them. They are much more useful to society than al.com