Leelanau Hills: A Steal of a Deal

Near Perfect...The Ticker from the Traverse City Business News has a feature on the Leelanau Hills development that explains how contractor Bob Mitchell of Bob Mitchell & Associates of Kingsley became the new owner of Leelanau Hills in the the BayView development in Suttons Bay. He wasn’t getting paid:

So Mitchell took legal recourse and sued developer Marcus Yono of Brighton for the $82,000 due to him. Imagine his surprise when no one bothered to show at the sheriff’s sale, leaving him the owner of the 45-acre development.

…According to Kit Wilson, the Suttons Bay Township Assessor, the property’s SEV is $3,196,970, resulting in a true value of $6,393,940. Quite a buy for that $82,000 lien.

Mitchell intends to have units at the development available for sale by next June or sooner.

Photo: Near Perfect… by KT of Lake Orion

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4 replies
  1. Joey Ross
    Joey Ross says:

    Kit wilson and accurate assessing, now there’s a contridiction in terms! And oxymoron,. She has b een the reason inflated txation is taking place acrtossa couple of townships. the people are extremely mad (but those that spend and receive pincreased p[ay due to her levie aren’t complaining). Farmers and farmland inan d around the Suittons Bay and Northport area are fed up with her.

    We are pushing for “local” taxation. To be taxed by someone that actually lives in the area that she is taxing, then when they know the pain of their acts they willb e alittle less enthusiastic to rais someones taxes because of a “percieved’ uses or it’s “potential” as something else other than iot’s current farm status. Yes a little pissed.

    Reply
  2. Steve
    Steve says:

    The taxable value represents what the developer paid for the property – not speculation. The Assessor is doing her job. It’s the law that needs to be changed.

    Reply

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