Parcel No. 644-162-45
Legal Description TR 2218 LOT 17 ALL -EX PO
Tax Rate Area 05-003
Roll Type Secured
Land $273,005
Mineral Rights $0
Improvements $211,729
Personal Property $0
Others $0
Total Values $484,734
Parcel No. 644-162-45
Legal Description TR 2218 LOT 17 ALL -EX PO
Tax Rate Area 05-003
Roll Type Secured
Land $273,005
Mineral Rights $0
Improvements $211,729
Personal Property $0
Others $0
Total Values $484,734
That is the Prop 13 value, which is based on when the property was purchased...it doesnt list the year on the website.
This could be the first sign of the real estate bubble bursting. The values of the property are just too much for the homes to handle, and this creates a landslide. You can't place all that value on top of something with no real foundational basis and expect it to remain stable.
The tax assessor may list that, but you can bet that the sale price of that home, BEFORE the mudslide of course, would have been well over $1 million.
A little more info, to possibility help understand matters.
That property (1096 Flamingo) was last sold in 1987 for $300,000. It was built in 1960.
The owners have a mortgage. There was a big slide very near, in 1978.
Bad things happen to good people.