The U.S. government once used a secretive underground building for nuclear research that recently sold for around $75,000.
Montgomery County Auditor Karl Keith now faces the challenge of coming up with a value for taxation purposes for the former Mound facility, which is 122,000 square feet, two floors, and has 16-feet thick exterior concrete walls and massive blast doors that were meant to defend a Russian attack during the cold war.
“With a property like this it’s a challenge because this is a unique situation,” he said.
News Center 7’s Jim Otte looked into how the county plans to figure out how much to charge for property taxes on a building that didn’t show up on the map and didn’t have an address.
Keith said the sale price is often used as one of several factors in determining the value for taxation, and that his team will carefully consider multiple other factors and come up with a fair valuation for property taxes.
“They’ll do some research and look at where similar properties have sold in the past and what they’re being used for. The other thing is I’m sure there’s renovation being done to this property,” he said.
The next step is for a representative from the auditor’s office to do a first-hand inspection then put together their evaluation of the property.
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