SMITHFIELD – Johnston County Commissioners continue to look east, eyeing more property on US 70 near Yelverton Grove Road.
On Monday, commissioners voted 6-to-1 to secure an option on 86.22 acres of land just east of the new Public Safety and Detention Centers. If commission agree to exercise the option on the land, the board will pay $49,500 per acre for a total price of $4,267,890. The land has a current tax value of $613,000, averaging $7,109 per acre, per Johnston County tax office records.
Commissioner Ted Godwin voted against the option, stating that in previous closed sessions the purchase price had been $49,000 per acre. He was opposed to spending the additional $500 per acre, or $43,110, more for the site.
County Manager Rick Hester told The Johnston County Report the proposed site is for future county government office buildings. If purchased, the land will be paid for from the General Fund.
One possibility for a portion of the 86 acres is a new building for the Johnston County Department of Social Services. They have outgrown their current offices on North Street.
Am I reading this correctly… it’s valued at $613,000 but the commissioners are willing to pay over $4M for it? Who owns it and who will be making that profit?
You can look it up its public info..Johnston County GIS website
the johnston County GIS website is public knowledge..Current land owners are HAROLD DOUGLAS STALLINGS, and GLENDA ARANETA PHILLIPS Massey
Tax value is always lower
We all know it will sell for more than the tax value, but that typically means about double in today’s market. Why they are using taxpayer money to pay 6 and 1/2 times the market value? Very poor decision. Look for land elsewhere.
No one can waste money like the govt. You guys got scotty pippen looking like a financial wizard. Where’s eminent domain when you need it? Asking for a friend who pays taxes and doesnt own 40 acres of “farm” land.
So let me get this right… Godwin voted “no” because of thr additional $500/acre — not because they paid $42,000 more than the tax value?!?!? #hypocrites #FollowTheMoney #VoteOutIncumbents
Tax value does not equal market value in the real estate world. Tax value is generated by the government, typically every 5-8 years, and is not indicative of what is happening in the current market. Your tax value is what the government uses to compute how much your property taxes are each year. You actually want a lower tax value. A property sells for what the current real estate market says it’s worth on any given day. People often confuse tax value with what the real value of a property is.
I would believe most of us know that fact. What makes no sense is why the government is willing to pay about 6 and 1/2 times the appraised value.
Sir everyone knows this, but the gap is ridiculous. Eithet it is ludicrously undertaxed “farm” land, or the govt is ludicrously overpaying about twice what this land is worth. Either way average working taxpayer is the loser, already wealthy landowners win. Rich get richer. Every 4 years govt makes the same empty promise to steal and spend your money prudently, won’t get fooled again [queue drums]
The rich get richer, the poor get poorer, and the middle class pays all the taxes. In JoCo the local government pads the pockets of the good old boys network with middle classes tax dollars.
All of these idiots who voted to do this should be fired immediately! They are pretty darn free with our tax money. Power hungry, bossman wannabe’s don’t know a tenth of what they want everyone to believe.
Paying premium price for a property split by two roads and a power line easement in East Smithfield lol. Who negotiated this deal and then the commissioners approve it?? Just wow
Hmmm tax value vs. real value. Haven’ti rest a story about a guy in New York found guilty of fraud because he valued his property higher than the tax value? The county should never buy land greater than 25% off tax value .
Open farm land on Jerusalem Church road Kenly NC sold back in the summer of 2023 for 12, 500 per acre . That same property is now 30,000.00 per acre and yes someone will buy it in the coming months. Is 42,000.00 crazy ? Yes but it’s the going price and yes someone will buy it in the coming months. That close to town I’m surprised isn’t not 100,000.00 per acre.
So, a few years , or every other year you could flow a jon boat down the street . and this is where we need to build ?
tax payer riffed again .