The owners of 60 Foothills homes have received reductions to the appraised values of their homes in response to the heavily publicized destruction of six abandoned houses on North Alto Via Court north of the Table Rock Recreation Area, Ada County spokeswoman Kate McGwire said Monday.
Like the houses on Alto Via Court, the 60 homes are part of the Terra Nativa development, though they were built in earlier phases. Some of their owners argued that the Terra Nativa stigma has depressed the market for their properties.
Reductions of their values range from 5 percent to 25 percent based on proximity to the Alt Via Court houses, the steepness of the terrain under them and potential impact from lawsuits the owners of the damaged houses have filed against Terra Nativa’s developers, the city of Boise and a host of geological engineers who worked on the development, McGwire said. In
The assessor’s appraisal of each home’s value determines how much the owner must pay in property taxes.
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About six weeks ago, Ada County Commissioners exempted the six Alto Via houses in the most recent phase of Terra Nativa from 2017 property taxes. Most of those homes have sustained major damage over the past year because the land underneath them is sliding slowly downhill.
In all, Terra Nativa reductions took more than $18 million off the appraised value of the properties in question.
On June 20, commissioners also canceled $32,000 worth of 2016 property taxes on five bare lots that Terra Nativa’s developers own in the area around North Alto Via Court.
Commissioners held hearings Monday on appeals of the assessed values of seven Terra Nativa homes. Owners of the other homes didn’t ask for hearings or didn’t file appeals of their properties’ appraisals.
At least once every five years, the assessor’s office visits each property in the county and appraises its value. The assessor relies on comparisons the other four years, McGwire said.