Homeowners believe empty lake should decrease property value
BOILING SPRINGS LAKE, N.C. (AP) — Homeowners in a North Carolina county are upset that the value of their property is slated to increase even though their homes no longer have a waterfront view, thanks to Hurricane Florence.
WWAY-TV reports the value of homes in Boiling Spring Lakes in Brunswick County is expected to increase. County officials say base property rates have increased 10 percent.
Arvil Stephens’ home sits on a peninsula along Patricia Lake, which was drained after Florence’s floodwaters caused dams to breach last year. The county says the home is valued at $501,000 now, compared to $423,000 a few years ago when the lake was full.
The county tax office says the appraisals were conducted with the understanding that the lakes would be restored.
Information from: WWAY-TV.