The Observation Deck

An auto parts store is a good thing. Certainly better than an empty storefront.

I heard that Max's was looking at the Rossati's location also, but that it didn't happen. But, as stated before, pretty soon, the name won't have any value anyway. All the CLeveland Mag silver spoon awards in the world don't mean anything once you've been out of the loop for over a year. People move on.

Jeff

One thing that troubles me with all the negativeness on this site (nothing against the site) but just think, if anyone at Autozone is reading this thread they may be moving into Lakewood with a little resentment and there is nothing like a new neighbor with a grudge. I agree with the two, maybe three, posts that are welcoming the business with open arms. We complain about vacancy and then complain about potential tennants, that is a very thin line to walk.

I loved Max's as many of us did/do, but I also welcome Autozone giving Lakewood a chance and seeing the worth in opening shop here.

Corey

Corey Rossen wrote:One thing that troubles me with all the negativeness on this site (nothing against the site) but just think, if anyone at Autozone is reading this thread they may be moving into Lakewood with a little resentment and there is nothing like a new neighbor with a grudge. I agree with the two, maybe three, posts that are welcoming the business with open arms. We complain about vacancy and then complain about potential tennants, that is a very thin line to walk.

I loved Max's as many of us did/do, but I also welcome Autozone giving Lakewood a chance and seeing the worth in opening shop here.

Corey

Tru dat!

Mr. Kelly thanks for jumping in.

It is appreciated.


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Bill Call wrote: The property sold in August of 2007 for $1,950,000 but the market value is listed as $785,000.

http://auditor.cuyahogacounty.us/repi/t ... l=31322010

The property taxes should be $67,000 per year and not $26,000 per year. How do these out of town buyers of business property get a 60% discount on their property taxes? Is that deal available to homeowners? How can I sign up?

As I understand it, commercial property is assessed and taxed the same way residential property is. There are periodic re-evaluations but once a property is sold the assessed value "snaps" to the purchase price. While both residential and commecial owners can appeal assessments, its hard to argue about a value youve already agreed to.

But since the property was sold only 7 months ago, its possible the new value hasnt gotten into the system yet. I believe these things are done on an FY not a calendar basis. I could be wrong on any of this perhaps but Im fairly sure this is true,

I'm not sure, but I think Dee is probably right.

Taxes are paid in arrears...we're paying our 2007 taxes in 2008. Since the building was sold in Oct. 2007, any tax change valuation would be collected in the second half of 2008.

Jeff

Dee Martinez wrote:As I understand it, commercial property is assessed and taxed the same way residential property is. There are periodic re-evaluations but once a property is sold the assessed value "snaps" to the purchase price. While both residential and commecial owners can appeal assessments, its hard to argue about a value youve already agreed to.

You are correct. Taxes are paid in January 2008 for the value at June 30, 2007. However, since the property sold in July of 2005 for $1.2 million the valuation last year should have been $1.2 million.

I sympathize with building owners who insist (perhaps rightly) that the rental income isn't enough to cover the higher property taxes but how far would a homeowner get with that argument?

Homeowner: I can't afford my mortgage and my taxes!

County: That's ok, we will just reduce your taxes to a level you can afford!

Homeowner: Ohhh thank you so much!

Corey Rossen wrote:One thing that troubles me with all the negativeness on this site (nothing against the site) but just think, if anyone at Autozone is reading this thread they may be moving into Lakewood with a little resentment and there is nothing like a new neighbor with a grudge. I agree with the two, maybe three, posts that are welcoming the business with open arms. We complain about vacancy and then complain about potential tennants, that is a very thin line to walk.

I loved Max's as many of us did/do, but I also welcome Autozone giving Lakewood a chance and seeing the worth in opening shop here.

Corey

You've definitely got a point there ... I remember when the Beer Engine was moving in, and put up their sign that many felt was cheap looking, and made it look more like a beer store ... the negativity was extreme, and I wondered what sort of message it was really saying to the owners, who were looking to make a go of it here in our fair city. Fortunately, while they did take the sign down, they did also stay, and I think most people would say that they're a very good addition to Lakewood.

Though they never did put the sign up.

My son has been a manager for another auto parts store for over 11 years.

He said that Auto Zone is a good neighbor and that with the Lakewood Police Dept. who could get away doing oil changes in a parking lot. He said in almost all the locations for the store he works for, the cities post that there will be at least a $250.00 fine for repairs made on the premises.

He also says that usually acts as a good deterrent.