Board sustains county’s $3.17M valuation for Lake Providence estate after appraisal debate
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Summary
Owners and commenters disputed the county’s high valuation for a large, high‑quality home in Lake Providence; county appraisers said the subject’s size, materials and amenities required out‑of‑neighborhood comparables and presented a sales‑comparison supporting about $3.17 million, which the board sustained.
Tom Crouch and citizen commenters argued the county’s valuation for a large Lake Providence property overstated the market because comparable sales the county used were in gated or amenity‑rich communities. Commenters noted the subject has only three legal bedrooms and fronts a busy corner, factors they said reduce saleability compared with the county’s chosen comps.
The county’s appraiser responded that the subject is a superior‑quality home (stone exterior, copper trim, finished lower level, pool and substantial outbuildings) totaling about 8,168 square feet including the lower level and that comparable properties with similar quality and finished area, while outside the immediate neighborhood, are appropriate. The appraiser presented multiple high‑end comparables (sales in the $2.2M–$3.9M range after adjustments) and a county sales‑analysis estimate near $3.17 million; staff recommended the county value be sustained.
Board members discussed the degree of extreme adjustments on the most distant comp and the challenge of finding truly comparable sales for such a high‑quality, atypical property; the county noted net adjustment percentages and explained weighting of comps. Following discussion the board voted to accept the county’s valuation for the parcel at approximately $3,168,700.
Next steps: the county will notify property owners of the board’s decision and include supporting sales‑comparison materials in the appeal record.