Courtesy of a sharp eyed reader. Been holding this easter egg for 3 weeks or so.
sop
40 thoughts on “North Shore Old Metairie real estate transactions again in the news….”
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http://www.zillow.com/homes/10-Farnham-Place-metairie_rb/
Zillow estimate is $633k. It must be really nice to be in the favor of the King Cobra.
True you can sell at any acceptable price however if there is money or other thing of value on the side not in the HUD 1 settlement statement at closing all parties are subject to violating 18 USC 1001 and tax fraud . Next question is what assessment is the parish going to use to collect ad valorum taxes, purchase price, or actual Fair Market Value ?
Gee! How do I access the same information for Orleans Parish. While I am in bankruptcy (“driven” there by aa orangutang), my assessment and taxes have increased EXPONENTIALLY since KATRINA, and are significantly higher than my neighbors'(not to mention properties in Negro neighborhoods, where the price per square foot is artifically DEFLATED compared to the Sixth District). How do i access this information to STICK UP ERROLL WILLIAMS’ and the Tax Commission’s ASS? Thank you. Ashton O’Dwyer.
Never assessed at Fair Market Value
10 FARNHAM PL HEX $0.00 Ward/Parcel 0810002525
Legal Description A CERTAIN PT OF GROUND BEING COMP OF THE SOUTH 15 FT OF LOT 14 , ALL OF LOTS 16 & 18 & THE NORTH 15 FT OF LOT 20 FARNHAM PLACE MEAS 90 FT FRONT ON FARNHAM PLACE X 90 FT 1 IN X 140 FT 6 IN 3 LNS X 141 FT 7 IN Notice # 0810002525 Assessment $118,740
Owner of Record* HEEBE,FREDERICK R & Tax Due $0.00 Tax Year 2011
Tax Year Tax Notice # Assessment Original Tax Due Paid Amount** Date Paid Balance Due**
2011 0810002525 118,740 $12,502.13 $12,502.13 01/18/2012 0.00
2010 79817 118,740 $12,194.59 $12,194.59 01/04/2011 0.00
2009 79828 118,740 $11,424.34 $11,424.34 12/31/2009 0.00
2008 79828 118,740 $11,307.54 $11,307.54 12/29/2008 0.00
2007 78567 103,740 $10,840.47 $10,840.47 12/14/2007 0.00
2006 77948 103,740 $10,190.85 $10,190.85 12/28/2006 0.00
2005 77727 85,330 $8,877.29 $8,966.95 04/17/2006 0.00
2004 77017 85,330 $8,669.48 $8,669.48 01/05/2005 0.00
2003 75831 80,500 $8,754.16 $8,754.16 12/12/2003 0.00
2002 75433 80,500 $7,989.85 $7,989.85 12/16/2002 0.00
2001 74960 80,500 $7,491.26 $7,491.26 12/20/2001 0.00
2000 75145 72,000 $6,222.32 $6,222.32 12/12/2000 0.00
1999 74853 72,000 $6,857.00 $6,857.00 01/01/2000 0.00
1998 74663 72,000 $7,647.12 $7,647.12 01/15/1999 0.00
1997 75012 42,220 $3,675.46 $3,675.46 01/11/1998 0.00
1996 74578 42,220 $3,630.32 $3,630.32 01/14/1997 0.00
1995 74400 41,720 $3,883.29 $3,883.29 01/10/1996 0.00
1994 74308 50,000 $4,691.99 $4,692.00 12/29/1994 0.00
1993 74977 27,450 $2,234.40 $2,234.40 12/16/1993 0.00
1992 74945 27,450 $2,171.36 $2,171.36 12/29/1992 0.00
1991 74467 26,520 $1,928.43 $1,928.43 12/06/1991 0.00
1990 75428 26,520 $1,907.32 $1,907.32 12/03/1990 0.00
1989 74836 26,520 $1,981.70 $1,981.70 12/19/1989 0.00
1988 75042 26,520 $1,821.17 $1,821.17 12/15/1988 0.00
1987 75353 22,450 $1,431.17 $1,449.06 02/18/1988 0.00
1986 75234 22,450 $1,403.06 $1,420.60 02/02/1987 0.00
**Paid Amount and Balance Due includes Penalties, Interest, and other charges, if any.
It may take up to 3 days for your payment to be reflected here. DO NOT REPAY.
To The SLABBED Nation: Tom’s last Comment demonstrates part of what’s “wrong” with the property tax assessment system in this State. One must do a mathemetical calculation in order to determine lot size. And there is NO – I repeat NO – reference to the square footage of any “improvements” on the property available to the Public. I have a helluva lot more to say about this, and about Erroll Williams and his INCOMPETENT Staff, who have directed a VENDETTA against me for tax years 2009, 2010, 2011 and 2012. My appeal to the Louisiana Tax Commission bears Docket Number 11-22176-012. But this POST is about Heebe (whose property on Farnam Place, I aver, was WOEFULLY under-assessed. Ashton O’Dwyer.
Looks like the Brown’s( the purchasers) have a $417,000.00 mortgage on the referenced property now and a second of unknown amount. Sounds like FNMA loan with a second. Someone’s gathering liquid.
In memory of and condolences to:
Arthur Sterbcow, the public face of the largest real estate firm in New Orleans, was terminated as president of Latter & Blum, Inc./Realtors Tuesday for providing information to The Times-Picayune about assessment values and home prces in Jefferson Parish for a story published on Sunday.
The information, known as broker price options, showed a 14 percent gap between home sale prices and property tax assessments made by Jefferson Parish Assessor Lawrence E. Chehardy.
Sterbcow, a champion of transparency and good government, provided the same type of information about Orleans Parish to the Times-Picayune in 2004 for a series about assessment disparities among the city’s seven elected assessors. Sterbcow’s data helped fuel a discussion about uneven tax burdens, and voters opted to consolidate the seven positions into one office.
Bob Merrick, the chairman and chief executive of Latter & Blum, did not return phone calls seeking comment Tuesday.
But Merrick sent an e-mail Tuesday to Latter & Blum employees notifying them that with “great personal sadness” he “terminated” Sterbcow’s employment that morning.
“The issue involved the articles in last Sunday’s Times-Picayune regarding assessments. Arthur supplied BPO’s to the Times-Picayune to show disparity in the assessors’ assessments,” Merrick’s e-mail reads. “Needless to say, the last people on earth we need against us are our assessors. Latter & Blum was cited throughout the articles as the source of the BPO’s. The assessors wanted to know, “why in hell is Latter & Blum doing this”?? I am in the process of mending fences. Latter & Blum should never have been involved in this matter.”
Chehardy is widely viewed as Louisiana’s most powerful assessor because he governs the property tax rolls in the state’s most populous parish. His late father, Lawrence A. Chehardy, had also held the position and was known as an influential assessor.
Chehardy did not respond to a phone message left at his home Tuesday evening. In a letter to the editor published in Tuesday’s newspaper, Chehardy said Sunday’s story reflected a “gross lack of knowledge on the appraisal of property.”
Chehardy, in his letter, also called the method used by The Times-Picayune “bogus.”
Sterbcow confirmed that he is “no longer the president of Latter Blum” and wished everyone at the firm well.
“I love Latter & Blum, I love the agents, I love the staff,” said Sterbcow, who added that he is still friends with Merrick. “It was just a business decision.”
Sterbcow said that he had no regrets about pushing for fairness in assessments. “I feel very proud about my efforts, and am very proud to have helped the Times-Picayune. The message from my agents was to try to fix the situation,” he said.
Sterbcow has worked in the local real estate industry for over 30 years, and had been president of Latter & Blum since 1995. He is widely viewed as an expert on the New Orleans area real estate market and even got a call from the White House right after Hurricane Katrina asking for his help in estimating the cost of damage done by the storm and levee breaches. Sterbcow is an advocate for the New Orleans area nationally, and frequently travels to Washington to press the city’s case in housing, lending and recovery issues.
Under his leadership, Latter & Blum developed enviable real estate data and analytical abilities. The firm also acquired a number of other real estate companies to expand to Baton Rouge, Lafayette, Alexandria and on the Mississippi Gulf Coast.
The local real estate community was stunned by news of Sterbcow’s abrupt departure Tuesday.
New Orleans Sixth District Assessor Nancy Marshall, who was elected in 2006 as a reform candidate who vowed to make the city’s property tax assessments equitable, expressed disappointment at Sterbcow’s departure.
“Arthur very much supported the one-assessor reform, because he felt that the financial health of the city depended on it because of the impact that unfair assessments have on people moving in to the city,” she said.
In last month’s race in New Orleans for the first citywide assessor, Sterbcow had been a vocal supporter of Janis Lemle, who worked as chief deputy assessor to Marshall. Lemle lost in the primary.
Marshall noted that Chehardy is a very powerful assessor, and helped recommend the candidates to Gov. Bobby Jindal for the Louisiana Tax Commission, the board that hears property tax appeal cases.
. . . . . . .
Rebecca Mowbray can be reached at [email protected] or 504.826.3417.
KNOWLEDGE IS POWER. I repeat that I have a helluva lot to say about this, but I’ll save it for now, except to refer The SLABBED Nation to Article VII, Section 18(D) of the Louisiana Constitution of 1974, which is being violated by Erroll Williams (and his predecessors) and Tom Capella (and his predecessor), and by every other Assessor in the State, and which provides: “Each assessor shall determine the fair market value of all property subject to taxation within his respective parish or district…Fair market value…of property shall be determined in accordance with criteria which shall be established by law and which shall apply uniformly throughout the state.” And I’ll add this: Erroll Williams can’t do things UNIFORMLY within the Sixth District, much less throughout the City of New Orleans. And I haven’t even gotten warmed up. Ashton O’Dwyer.
The Louisiana tax commission is the aorta of corruption. The tax commission is the root of the problem not the individual assessors in many cases. The tax commission is stacked with Chehardy appointed members and if a well heeled individual needs help on his assessment all he/she has to do is appeal to the tax commission and they will lower the rates for you which in turn screws up the valuations the assessors provide. Errol Williams privately complains about the tax commission all the time but he is not powerful enough to fix the problems. If my memory serves me correct the Times Picayune did a story a few weeks ago on the Heebe house.
To DeAngellis: You are correct that “The Times-Pick-Your-Nose” addressed the assessment(s) of Heebie-Jeebies’ house at Arabella St. and St. Charles recently, without making any “judgment call(s)”, which is a shame. In my case, Erroll Williams is incompetent, stupid, totally out of his element, or CORRUPT, or all of the above. i haven’t been assigned a hearing date by the Tax Commission. I also have identified all of the factual and legal issues in my appeal(s), because we are supposed to be talking about Heebe-Jeebie (but we’re NOT). Let’s do so. POST the Sale Price of the Farnham Place property. compare that to the taxes Heebie-Jeebie was assessed in the years prior to the sale and tell us what Capella intends to do about it. And POST the “Times-Pick-Your-Nose” story about the Arabella Street/St. Charles Avenue property and let The SLABBED Nation comment. Ashton O’Dwyer.
It should be noted that Heebe’s house was not assessed at 118k. I forget exactly how the equation works, but that would equate to about 1.2 million. Note that he paid 12k in property taxes. Property taxes are not 10% to prove my point. Not trying to be a party pooper, but there is nothing to see here. In fact 1.2 mil is about right for that neighborhood. Check your own assessments and you will see. Also don’t forget about your 75k exemption which he is probably not using here.
So can you rationalize the Heebe St. Charles “mansion” assessment fiasco for us ?
O.K. Then why are my property taxes in Orleans, on a smallet lot, and smaller house, “$17,475 (a totally “confiscatory” tax), when the taxes were $7,000 to $8,000 pre-KATRINA? The “system” is totally screwed up, and is being run by INCOMPETENT and CORRUPT individuals. Ashton O’Dwyer.
To answer the question of whether $1.1 Mil and $1.3 mil is a big difference the answer is absolutely yes. The average home in Metairie is around $189K and $200K of assessable property is significant loss of tax when you multiply that by numerous times over in the high value range, that was part of Mr. Sterbcows argument. Below # 16 Farnum a comparable property to # 10 Farnham illustrates the need to sell that creates hundreds of thousands in sales price difference while Fair Market Value is not properly assessed with the assessors office reacting to recorded sales price.
$1,925,000 Sold Date 02/03/06
$1,270,000 Sold Date 12/20/10
2011
0810000006
127,000
$13,371.83
$13,371.83
11/29/2011
0.00
2010
79990
192,500
$19,769.76
$19,769.76
12/30/2010
0.00
2009
80003
192,500
$19,769.76
$19,769.76
12/15/2009
0.00
2008
80003
192,500
$19,567.63
$19,567.63
12/18/2008
0.00
2007
78748
192,500
$21,683.20
$21,683.20
12/14/2007
0.00
2006
78684
58,500
$5,400.39
$5,400.39
12/31/2006
0.00
2005
78472
58,500
$5,817.06
$5,875.23
04/26/2006
0.00
2004
77769
60,500
$5,903.67
$5,903.67
12/10/2004
0.00
2003
76554
55,000
$5,696.20
$5,696.20
01/03/2004
0.00
2002
76148
55,000
$5,198.88
$5,198.88
12/17/2002
0.00
http://www.dallasnews.com/news/local-news/20101108-Madoff-tied-to-Dallas-County-gas-7164.ece
This story was up for only a few seconds … Farnham Place is chunck change compared to this …
Landfill owner’s home assessment cut almost $5 million
Published: Sunday, March 18, 2012, 6:30 AM
By Richard Rainey, The Times-Picayune
To DAMBALA: Holy SHIT! Is the “Scott J. Brown” referred to in the article the same “Scott J. Brown” who bought Heebe-Jeebie’s Farnham Place property? Ashton O’Dwyer.
http://la.findacase.com/research/wfrmDocViewer.aspx/xq/fac.20100316_0000408.ELA.htm/qx
Yeah I saw that one too, Vonzippa.
They appear to be one in the same, Ashton. Brown is also an investment banker.
So was Madoff !!!
bernie madoff is a liar and a thief. there were people working at madoff who were unaware of bernie’s crimes. the gas lease deal looks legit.
Sure, jr. So what’s your take on The Dallas Daily News article of November 8, 2010 by Randy Lee entitles “Madoff tied to Dallas County gas leases, trustee says”, and the Trustee’s (Irving H. Picard’s) lawsuit against some of Madoff’s family/insiders, amomg others? According to the Lee article, “Millions of dollars skimmed from clients’ accounts by the all-time Ponzi scheme champion flowed into the family’s trisky gas-leasing venture around Joe Pool Lake, Madoff case trustee Irving H. Picard contends.”***”[t]he family’s” means Madoff’s two sons and a niece (daughter of his brother).***”Among Picard’s (the trustee’s) targets are Madoff Energy, related companies and the kin themselves. He is demanding nearly $5.2 million back from the Madoffs for the Dallas deal and much more for other family enterprises.”***”What did the family (two sons and a niece) know?”***”They either knew of the fraud or intentionally shut their eyes to it.” What documentation did you review, jr, to conclude that “the gas lease deal looks legit”? Ashton O’Dwyer.
arod, my take in that article is that a couple of local fast money types (energy focused stock brokers) were looking for money to flip leases in texas and madoff invested. there is no crime in investing in gas leases. i am not attempting to apologize for madoff or heebe. i am trying to point out that a link between heebe and madoff is highly unlikely. further, i seriously doubt 10 farnham place was sold for anything less that the true value.
In 1985, Kenneth Lay merged the natural gas pipeline companies of Houston Natural Gas and InterNorth to form Enron.[5] In the early 1990s, he helped to initiate the selling of electricity at market prices and, soon after, the United States Congress passed legislation deregulating the sale of natural gas. The resulting markets made it possible for traders such as Enron to sell energy at higher prices, thereby significantly increasing its revenue.[6] After producers and local governments decried the resultant price volatility and pushed for increased regulation, strong lobbying on the part of Enron and others was able to keep the free market system in place.
Back on point….why is Heebe giving Brown this house?
the tp did a story not so long ago on the million dollar homes being listed as sold for $10. i do not recall the particulars only that the true prices paid was in line with the value of the homes listed.the gist of the article was that certain rich folks do not want the hoi poll-oi knowing their business.
Does anyone know the “sales price”? To my knowledge the “sales price” has not beem POSTED. AROD.
Mortgages recorded now for Browns are for $417,000.00 mortgage on the referenced property and a second of unknown amount.
Sounds like FNMA loan with a second.
$417 is FNMA limit(unrecorded second at this time)
Sales price not recorded.
Will take several months before it comes out in Deed Fax if at all and should be made public at the JP clerk of courts office . If the TP article is correct that other things of value were involved than the IRS should be taking a look but first who’s going to report it the Jefferson Parish Assessors office ? What RR did not understand is the LA. homestead tax exemption and IRS capital gains exemption is for your primary residents only. There are 2 forms one for personel property and the other for bussiness property that would also be used if the residential property was owned by an LLC .
“Meanwhile, Heebe and Sneed sold their former Metairie house on Farnham Place last month. Although valued by the Jefferson Parish assessor’s office at almost $1.2 million, the property sold for $100 plus “other goods and valuable considerations,” according to the act of sale. The actual price was not disclosed in public documents, but records show the buyers, Scott and Lynn Brown, took out two mortgages totalling $1.1 million.”
Form 6252
Department of the Treasury
Internal Revenue Service
Installment Sale Income
? Attach to your tax return.
? Use a separate form for each sale or other disposition of
property on the installment method.
OMB No. 1545-0228
2011
Attachment
Sequence No. 79
Name(s) shown on return Identifying number
1 Description of property ?
2 a Date acquired (mm/dd/yyyy) ? b Date sold (mm/dd/yyyy) ?
3 Was the property sold to a related party (see instructions) after May 14, 1980? If
latter and puke’s actions hurt the area more than just about any other political scandal in recent years because it emboldened the politicians and scared the business community from reporting illegal activity to the feds. they lost a lot of business over the political firing of sterbcow as is evident by the lack of latter and puke signs these days.
What no one has pointed out is the fact that with Ashton Phelps gone is the article on Heebe’s sale of #10 Farnham a sign that TP is morphing into another investigative Wsahington Post; possibly to regain all the people who stopped their subscriptions when TP year after year were always endorsing corrupt incumbents in NOLA and JP.
The Richard Rainey article on NOLA.com on March 18th, according to Gate’ above, was only up for a short while but generated 40 comments. That should be sending a message to TP management that the public wants more investigative reporting.
QUESTION: Can the TP management polish the Rag turd to a high enough luster to create a new, shining image on Howard Ave…
ANSWER: Hint- Anything …”that can be polished to greater than 70 gloss units is considered high gloss”.
[youtube http://www.youtube.com/watch?v=yiJ9fy1qSFI&w=420&h=315%5D
After the myth busters polished several turds to a certified high gloss, I say it is possible.
So Richard and Paul, you keep polishing and buffing and watch your gloss indexes soar and possibly new subscriptions may start to come in.
To The SLABBED Nation: Louisiana Revised Statutes, Title 47, Section 2328, specifically provides: “A. The act of sale or other instrument transferring property shall, where applicable, contain the total sales price, as well as the amount of any mortgages.” The statute goes on to state: and the correct names and addresses of the vendee and vendor, together with one municipal or street address of the property transferred). If this statute has any “teeth”, then Tom Capella has to provide them. If the statute is “toothless”, then that must be laid at Capella’s doorstep as well. WHAT WAS THE SALES PRICE OF THE FARNHAM PLACE PROPERTY, FROM THE HEEBE-JEEBIES TO THE BROWNS? Ashton O’Dwyer.
To Ashton ,
The very validity of the JP assessors office is in question when public records are altered and/or hidden from public use that would be needed by his office and/or other appraisers to set Fair Market Value of comparable properties , that my friend is the real issue here that RR missed.
AROD: Here you go Ashton…
“Mr. and Mrs. Brown the Price was Right, you are our
1 MILLION DOLLAR WINNERS of #10 Farnham Place…..”
[youtube http://www.youtube.com/watch?v=Q81fgmkTGn4&w=560&h=315%5D
Now, can we get you’ll to obey LRS Title 47, Section 2328, para.A or do you know a Mr.Biggs or what..
As far as things being laid at Capella’s doorstep, I doubt a flaming bag of dogshit would get his attention. We already pointed out that King Georges has a commercial property by the airport that is not even listed on the JP assessor’s website.
Dambala: It was also reported here on Slabbed several months ago by a reliable commenter that the 3-4 story, Super 8 Motel at 2421 Clearview Pkwy (where Broussard and Abel filed several legal appeals out of a Suite there)was allegedly assessed as owning no annual property taxes.
May be time for a full out Slabbed audit of properties they own in JP and the subsequent assessments.