I was perplexed that the unspecified county source estimated the annual accrual of property tax based on estimations “if every Eagle Ranch home sold for the current county median price.” How could any public employee worth his salary evoke such an idiotic statement? Eagle Ranch homes (except the low-income residences) will probably sell for an average of three to five times as much as the current county median price (currently approximately $ 360,000). Many Eagle Ranch residences are luxury homes on small acreage lots in a very sublime and desirable area. The mere idea that we should arrive at our math based on computations using “median price” is a fallacy and tantamount to a bold-faced lie.
The county accounting of $363,000 per year in assessed taxes must be tripled, quadrupled—or can we use an even higher multiplier?—to arrive at a more accurate tax assessment. Where do I line up if Greg and Jeff Smith are going to sell these types of luxurious executive residences at or near the median home market price? I want to be first in line so that I can resell my $ 360,000 investment at two to three times what I originally paid.
In my estimation, I place the annual assessed property taxes earned at $1 to $1.5 million at a minimum. I would enjoy it if Mr. Patrick Klemz could edify me with the name of the individual and their title or department within the county government so that I might consult with them directly on their ability to utilize the “current county median price” as evidence on what the city of Atascadero stands to lose in the bargain. The county will be garnering two-thirds of a much more lucrative tax assessment, while Atascadero will have to provide services for their paltry one-third. A poor deal for Atascadero.
I do think that the county, the developers, and the administrators of Atascadero must communicate in a more honest and straightforward manner about the property tax topic surrounding the Eagle Ranch development.