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City of Fulton Gets Full Value for Home it Rehabbed

This is how 508 State St., Fulton looked in the summer of 2009, after the city seized the home for unpaid property taxes.  In 2010, city workers and contractors repaired the home and tore down the barn behind the home.  The home sold for the full asking price of $80,000.
This is how 508 State St., Fulton looked in the summer of 2009, after the city seized the home for unpaid property taxes. In 2010, city workers and contractors repaired the home and tore down the barn behind the home. The home sold for the full asking price of $80,000.

The City of Fulton is three-for-three.

The third home rehabbed by the city in 2010 sold this week and the city again got the full market value for the home.

City Aldermen approved the sale of 508 State St. to Jennifer L. Bookhout for $80,000.

The city, under Mayor Ron Woodward, is taking a novel approach to homes seized by the city for failing to pay property taxes. Normally, those homes are sold at auction for the amount of the back taxes. Instead, Woodward began using a mix of city employees and contractors to rehab some of the seized homes. Multi-family homes were turned back into single-family homes. And the homes were all brought up to city code.

The city then worked with a local real estate agent to sell the homes. Woodward said that in all three cases, the city got market value or more for the homes.

Woodward has said he intends to plow profits into rehabbing more seized homes.

When he took Oswego County Today on a tour of seized homes in 2009 as the program was beginning, he aid that 508 State St. didn’t look bad from the street, but had several issues inside the home. And a barn behind the home had to be torn down.

“I was surprised (the home) sold over the winter,” said Woodward this week, noting that winter is slow time for home sales.

“We got that house sold in pretty quick order considering the real estate market’s pretty dead,” agreed Alderman Pete Franco, who is a real estate agent. He said getting full price for the home was a testament to the quality of the work done on the home.

See a slideshow from our June, 2009 tour of seized homes:

10 Comments

  1. Well, personally I don’t think a city should be in the real estate market. It is too easy to charge extremely large amount for property taxes in order to take over someone’s home. I think it should be the same way in the city of fulton as it is every where else. The home should be put up for auction where citizens are allowed to purchase the homes. Basically it is a conflict of interest. The city of fulton is charging higher taxes than any other municipality in the state. They are robbing people of their homes, by essentially charging these people too much money to live in their own homes. I hope someday someone is wise enough to fight this system in fulton.

  2. How much money did the city pay to re-hab the home. This includes city employess salary. Don’t let this mayor fool you the city is not 3 for 3, they are in the hole after expenses. He should be more conerned on the tax rate in this city, highest in up-state New York.

  3. mayor you had to borrow money to clean uo valero gas station.How much and where did this money come from.Its too bad are taxes are so high,no work here in fulton.Our assessments are sky high,not even assessed fairly.You talk about fair and full value,,look at the data base and you will see its not so fair.I for one would like to see the cost and profit on this adventure.maybe you have to borrow money to fix pot holes

  4. If the assessments were done fairly maybe Single Family Home Owner
    would stand a chance. But when rental property is assessed at maybe 50%
    of what single family owner occupied homes are what chance do home
    owners have. Example $22.00 a square foot for rental and $30.00 or more
    a square foot for older single family homes.
    Yes 1975 duplexs with 6 bedroom, two garages, Two Full Bathrooms, Two half
    bathrooms at $22.00 a square foot. 1905 homes with one bath room and
    3 bedrooms and no Garages assessed over $30.00 a square foot. Come ON
    Fulton Wake UP!

  5. Maybe if 1975 duplexes had assessed values more like 1905 single family homes.
    Home losses due to unpaid, unfair taxes would slow down. But 1975 Duplexes are only worth
    $51,500.00 here in Fulton. Find a rental property assessed at more than $30.00 a square foot. You might if the landlord only owns one or two houses. When 19 acres of Res Vacant land is only worth $4,900.00 for the whole 19 acres.

    Wake Up America!

  6. Three down and 99 to go! This program will never accomplish anything near what it is attempting to do. How many homes did the city acquire this year from tax foreclosure, I bet it was more than three. If he uses city labor to finish these homes then he has too many people on the public payroll, cut salaries, cut taxes, and then tell us what you are doing so special. The 100 homes that the city owns are off the tax rolls, if they auction them and let the public bid on them and put them back into service, the taxes start accruing again instantly. The carry cost of keeping them off he tax roll should be computed in the hard costs of finishing these house. Who are you kidding, wake up Fulton, this is a sham. A fulton taxpayer. PS Editor, quit spreading this propaganda and write the truth.

  7. Why can’t BAR members have term Limits so every body can have a chance at assessment
    Reviews then maybe assessed values would reflect fair market value. Not just what the
    leaders want to pay. Then stick everyone else with the rest of the bill.

    Everyone else Single Family Owner Occupied Homes Have the HIGHEST ASSESSED
    Values and pay the highest amount of taxes.

    One Term and Two Years Maximum Service For any BAR Member.

    And Appointed by Aldermen or Alderwomen one from each ward.

  8. Comparing Rental properties to actual homes in assessment values is assinine, a HOME is a HOME and should be assessed differently as they are more SELLABLE then RENTAL properties. further RENTAL properties tend to deprciate faster, need more upkeep than the usual HOME, as HOME-OWNERS (most anyways) take better care of their properties. The market should reflect this in comparison in assessments. For the city to MAKE money by fixing up these houses, then turning them over via sale to potential home OWNERS who will improve/upkeep/and maintain these properties improves the baseline housing stability, provides needed
    revenue and give opprotunity to those that want/desearve a HOME..not just rentals is a win -win… the city and the potential homeowner.
    For those who think assessments are not fair, you have avenues to complain/modify/change… and for those NON OWNERS(you know who you are) who still insist assessments in the city are not fair I ask this, IF YOU ARE NOT PAYING FOR PROPERTY TAXES… WHY DO YOU CARE?

  9. To Gridtards Nemisis,

    Who ever the Gridtard is. When duplexes of the same inventory not owned by BAR members
    as close as Granby, and Oswego are assessed $60.00 per sqr ft like $120,000.00 total assessed value. I suppose they are not rental property?
    How About 2 bath room, just 5 bedrooms Built in 1920 assessed at $29.00 a square foot
    With A Total Assessed Value of $59,900.00 Oh and it has No Garages.
    Must be those older rental properties are worth so much more to the Owners.
    Hear is another one not owned by member of the BAR
    Year Built 1900, Square footage 2100 , 2 bathrooms , 4 bedrooms, No Garages
    Assessed Value $33.00 a square Foot Total Assessed Value $70,900.00
    But that Poor Landlord Only Owns That Rental Property, Screw HIM.
    Wow Those older Rental Units are worth so much More.

    Wake Up Fulton, Your Getting Screwed!!

    The BAR,”Board of Assessment Review”, should be there to protect the home owners
    and the citizens of that city not just the BAR members tax bill.

    When BAR members are 92% successful at lowering their assessed property values
    than other citizens maybe that is why the average citizens doesn’t even try.

    BAR Members should Own more than two pieces of property or service for more than two
    term of just two years.

    That’s what I think.
    What do you Think.

    OH Well who Cares ANY way.

    I only have one Wallet.

    The single family home owners have 42% of the housing.

    Landlords Own 52% of the lowest assessed Property In Fulton

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