I must confess, I am confused about commercial real estate values in lola. On one side is the county appraiser who was reported in the Register March 18 as saying that appraisals for land in Allen County have changed little over the past 20 years because no development has occured after the values were set in 1987. The land the city is attempting to acquire for the extension of the rail trail to Riverside Park was appraised jointly by three local real estate firms at $138,000. The county appraiser set the value for this property at $1,980. Quite a difference.
When a Register reporter questioned the county appraiser about the big difference in price for this strip of land, the answer received was, “Because I don’t have the same tools at my disposal that these appraisers do when they set the land’s value.”
So, what’s the taxpaying citizens of lola to think about the property values when these two entities are so far apart? I am personally curious as to what “tools” the county appraiser lacks that would allow her to set property values more accurately?
There has been some development activity which the realtors are using to justify the value such as doctor’s office, Gas city property, Iola Auto Parts on State Street, maybe others. There will more likely be more development in the future, possibly land will be needed for a new hospital if that decision is made. If this speculation keeps up, I’m afraid it will make the land too expensive to afford.
Can’t these two entities get together and try to get appraisals more in line with reality? After all, we are in a recession.
Paul L. Zirjacks
Iola, Kan.
