Palin McMansion appraised at $5,500

[RandySF]

In the comment section on a Alaska-based blog, a commenter decided to peruse the appraisal of the Palins' property by the Mat-Su Borough Assessor. While the land was assessed a hefty $116,700, their house was appraised at only $5,500. Maybe Alaska property values are low, but that sounds like a good deal for a house that size.


http://www.matsugov.us/myproperty/mydetail.aspx?pID=66646

[Hannah Bell]

1. wtf? sounds like fraud to me.... they pay about the same property tax than i do for 800 sq feet.

in a high unemployment small town.

are you sure that's for a house?

house is assessed at zero for two of those years.

[asjr]

3. Maybe it is the igloo outhouse.

[Hannah Bell]

4. i'm not sure that's their house. their house is supposedly on lake lucille drive.

that property appears to be in a different area & non-lakefront.

on edit: wait, that's wrong:

Sarah Palin’s house, located at 1140 W Parks Hwy, Wasilla, AK 9965 is a two-story framed structure on a couple of acres, built in 2002 with a poured concrete foundation and no basement. According to Alaska magazine, the home was designed and built by “First Dude” husband, Todd. The home has an appraised value of $552,100, according to the Matanuska-Susitana Borough real property land details. You can see Palin’s home in the background here (sorry, I learned that link was blocked, but here’s a better view of Palin’s house).

http://www.zillow.com/blog/wasilla-alaska-real-estate-and-sarah-palins-house/2008/09/08/

median property tax in wasilla = $1700

http://webcache.googleusercontent.com/search?q=cache:uffTONf4UZQJ:www.city-data.com/city/Wasilla-Alaska.html+wasilla+ak+average+property+taxes&cd=1&hl=en&ct=clnk&gl=us&source=www.google.com

This is so interesting, because Sarah just released her 2006/2007 tax returns and stated on it the family made @ $170,000 for each year, but yet, when you look at their real estate holdings (plus a private plane), you wonder if someone isn’t being entirely honest on her taxes, because really, how can you have millions of dollars worth of stuff, but only making what she’s reporting!

Nice. Not only has she abused her power repeatedly while Governor, but now we’re seeing that she’s getting sweetheart deals using American taxpayer money! Sen. Ted Stevens of Alaska….move over….Sarah is here to take your place!

http://whitenoiseinsanity.wordpress.com/2008/10/14/did-sarah-todd-palin-get-their-house-built-for-free-by-todds-buddies-who-built-the-sports-complex-in-wasilla-when-she-was-the-mayor/

[pnwmom]

2. In some towns the assessed value is only a specific fraction

of the market value. It's not possible to evaluate that $5 thousand figure without knowing whether it's meant to be full market value or not.

Still, it sounds low to me, even as a fraction of what it must be worth. And the tax bill certainly is low.

And I wonder what it means when it says the building is only 53 percent complete?

[pnwmom]

5. There are two different properties. 1120 and 1140 W. Parks Highway.

http://www.zillow.com/homedetails/1140-W-Parks-Hwy-Wasilla-AK-99654/74519651_zpid/

1140 is assessed at over $500,000.

I believe 1120 is some structure next door they're currently building, which is why the tax office says it's 53% complete.