Arizona now says town never valued land schools want to buy at $625,000

Figure was provided by private appraiser; town will pay $475,000

The former resident who controls the land the School District wants to buy for Central School athletic fields says any comment she made that may have insinuated that town officials valued the property far lower than its market value because it hoped to someday purchase it was misunderstood.

Isabel McDougall of Scottsdale, Ar., says a remark she made last month was not meant to imply that town officials were less than honest about the 10 acres of land off Depot Street. The Alton School Board recently announced its intention to purchase the property, which is located in a rural-commercial zone, for $475,000; if school district voters approve the buy in March it will clear the way for work to begin on needed renovation work at the Alton Central School.

Last month McDougall, who is the principal trustee for the Edna Twombly Revocable Trust, said that after her aunt Edna Twombly died in February 2006, the land was assessed at $625,000. That's considerably more than the $320,300 value that is on the books now.

She also said that after her aunt died she received numerous phone calls from parties interested in buying the land, including town and school district officials.

"I'm not making any accusations but I find it very interesting," McDougall said at the time.

On Sunday McDougall said a private assessing company, not the town, valued the property at the higher rate based on its "highest and best" possible use and was never taxed at the higher number.

"The truth of the matter is that when one inherits property one must have an appraisal done in order to establish a basis for the IRS," she said. "We hired a private appraiser and the amount (he set) was apparently based on gaining access to Route 28.

"The town has always appraised the property much lower," she added. "The town did not change their appraisal. I do not know the town's methodology for establishing value but we certainly are not complaining, nor are we making any assumptions."

Earlier this month Town Assessor Tom Sargent refused to make any comments about why the property, which is located between Routes 28 and 11, is valued at approximately $12,000 per acre.

Two structures on the land, both built in the 1800s — one that McDougall calls "the best barn in town" — have been valued by Vision Appraisal at about $200,000.

When the School Board announced its hopes to purchase the property, officials said they envisioned the land could also be used someday for community activities like Old Home Day.