Times: Hercules housing loans bump up assessments, resident finds
— by Jeffrey Wisniewski — 15 October 2009 — Comments Off
This is a rude awakening — paying more in property taxes because of (potential) affordable housing fraud… “When [Karen Kahn, the homeowner] called in May to protest, an assessor’s official told her a somewhat smaller condo on the same street had sold for $350,000 a few months earlier, Kahn said. Recent sales of ‘comparable’ properties factor into property tax assessments. That 869-square-foot condo, on the 1500 block of Chelsea, once belonged to Rachael Redford, project manager for the Hercules Affordable Housing Department, run under contract by NEO Consulting Inc./Affordable Housing Solutions Group.“