HGTV Values the Hudson Dog Track
By
I could have sworn that the latest dog track, Hudson Government School District news (one in the same) came from a recent episode of HGTV, Home and Garden Television. You know the show where a real estate expert convinces a couple to upgrade a bathroom with a water-less toilet for $30,000 because by doing so the value of the house will increase by $100,000. The ignorant couple
gets teary-eyed at the thought of their new found wealth. The sequel shows them turning the water in a new boat after upgrading the bathroom. We all know how this story ends.
As we have discussed many times in the past, value in monetary terms does not exist until a transaction has been completed. And the value resets to zero the millisecond after the exchange. The school district announced this week that an appraiser valued the dog track property double of what Second Choice Two Names and her seven stooges on the school board had bid for the former gambling site.
According to the city the vacant property carries a value of around $5 million, which means the mental dwarfs running the Hudson government schools bid too high. Several citizens drubbed the school district in the paper the last several weeks for bidding $8.2 million. You would have to be born yesterday to believe the latest assessment was not an attempt by the school district to get the sheeple to vote yes for the purchase in April.
Even if the district was getting some unbelievable bargain, the citizens would never reap the potential benefits. The school district still owns acreage that I am sure at the time of purchase was considered a value. The land has been declared unusable. The district is either not selling it or waiting the real estate market out in hopes of fetching a higher price than current conditions dictate. If they purchase the dog track, then it will be longer than a lifetime before they sell it and even longer to receive what they paid for it. And if such a time occurs, where do you think the proceeds will end up. The taxpayers will not see one red cent returned.
If the land is such a value, then why has not a transaction happened before the school district decided to plunk down taxpayer’s money? Personally it is hard to rationalize a bid much above a few dollars for a piece of property that has sat dormant for fifteen years. Of course government, including its schools, do not have to worry about stupidity when they are playing with the citizens’
money. After all, it costs the bureaucrat nothing for a gross error in judgment.
The only thing that can be said with certain is that the value of the dog track is zero and so is government-run education.
Related posts:
- Hudson School District Going to the Dogs The Hudson School Board following the leash of the head bitch, Second Choice Two-Names, voted to take the taxpayers to referendum for the purchase of...
- Space Not for Learning All the talk about the Hudson School District buying the dog track or now receiving an offer for 65 acres of land at the Hudson...
- Land Swap Ontheborderline has learned from reliable sources that the owners of the financially troubled Hudson Golf Course offered 65 acres in the middle of the links...