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Published: Friday, June 6, 2008
Value of waterfront property jumps $700K
• Three parcels now valued at $12.8M, instead of $12.1M, for tax purposes
By Chris Fyall
Enterprise editor
Land prices rarely go down.
Edmonds' waterfront properties proved that true this week, as the combined value of three prized waterfront parcels jumped from $12.1 million to $12.8 million when the Snohomish County's Assessor's Office released its 2009 tax rolls June 3.
The jump represents about a 6 percent increase.
The 4.3 acre Antique Mall site is now assessed at $10,270,000, the Department of Transportation parking lot is assessed at $1,257,500 and the Skippers property is assessed at $1,246,300, according to county tax rolls.
The properties are owned respectively by Al Dykes' Edmonds Shopping Center Associates, the DOT and developer Bob Gregg.
The city has talked of buying the properties from their respective owners, despite the owners' repeated reluctance to sell.
Officials have discussed building a park, controlling commercial development or doing something else.
If it tries to buy the properties, the city will likely have to pay more than assessed value, said city finance director Dan Clements on May 27. He called the importance of assessed values "dubious" during purchase discussions.
Reporter Chris Fyall: 425-673-6525 or cfyall@heraldnet.com
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