Land's assessed valuation increase

[Carey]

We haven't received our assessment yet, but since we closed in Nov. '05, the sales price is very recent. Not to be a bearer of weird news, but the price of a lot in HPP (and most of the island) went up a lot last year. (We were looking to buy from April through October...and were caught in two cases that seemed like "gee, my neighbor just put their lot up for much more than we accepted... can we get more too? type deals. Both fell through when the sellers could not (would not?) close on cash offers with no buyers contigencies, other than survey). Soo, the land market went crazy last year, the prices doubled and tripled (or more in some areas, esp close to ocean or ocean view))on many lots in the county, now the county has reassessed the land. It is cruel for those who have limited incomes, and for those saving for their future house, but is what happens when speculation hits an area. The price of paradise may be higher now. Bummer. Hopefully the county will make it easier on the fixed low income households to stay in their homes with the new taxes.
Aloha, Carey