Yesterday’s Napa Valley Register article by Jesse Duarte Posh, “Upvalley home assessed at $100 million” is sure eye catching for properties here, belwo are a few excerpts. The interesting thing, John Tuteur, Napa County Tax Assessor, had come and spoke to my company at our Tuesday’s office meeting and gave us a heads up that this was going to be published in the next day or two.
What he did say, his office had tried to contact all parties involved with this property, owner, agents, contractors etc., and there had been no response. He did indicate just how wealthy the owner is by putting him way beyond the 1% bracket when it comes to being wealthy. If I remember John’s figure, this person is in the the .00001% bracket.
After seeing this figure, yes, I did attempt to find out where it was. Unfortunately, St Helena’s Planning Commission records on-line only go back two years and the tax records only showed two properties with $6 – 8 million assessments back in 2005 to 2006. Even though both have a St Helena address, neither was in the city limits.
One thing I would like to say about John, he is an invaluable resource and writes many extremely helpful articles on real estate taxation and more. Here is a link to his articles.
ST. HELENA — Assessor John Tuteur has slapped a $100 million valuation on an unfinished Upvalley home, making it by far the highest assessed residence in Napa County history and one of the most pricey properties in the U.S.
The only house recently under construction within the St. Helena city limits that could conceivably warrant such a value is Joe Schoendorf’s 12,398-square-foot residence on Big Rock Road in the hills east of Silverado Trail, according to a review of city records.
Tuteur said his office wasn’t able to obtain any information from the owner or the owner’s agent. “Our estimate was $100 million for the structural improvements based on the size, quality and nature of the improvements,” he said.
The $100 million figure was based on the property’s estimated value as of Jan. 1, 2013, when construction was still not complete, said Tuteur.
A year earlier, when the house — part of a residential compound — was at an earlier stage of construction, Tuteur’s office had valued the structure at $7 million.
“We were not able to obtain cost information from the owner or from the owner’s agent after multiple requests,” Tuteur noted.
St. Helena property values rose 9.6 percent for 2013-2014. Without the Schoendorf project, the city’s assessed value would have increased by about 4.4 percent, less than the countywide average of 5.3 percent.
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