Some of the prices approved are several times higher than the property's assessed value, which tells what a property is worth for tax purposes. Those figures are often much lower than a property's purchase price. Reuben and Josephine McCall have owned it since 1967, when business along 22nd Street still thrived, several years away from a decline that continues today. Through the years, the property has been the site of lounges and restaurants, but nothing is open there now. She declined to comment further.
Owners choose appraisers from a city-approved list to have property evaluated.
Owners also can hire an independent appraiser. Figures are reviewed by still another appraiser before offers are made. Sometimes there are negotiations between the city and owners. It is not unusual to pay what seem to be high prices when property is being assembled for some purpose, said Pam Dubov, Pinellas County's chief deputy appraiser. He readily acknowledged that in some cases, prices can appear to be more than fair.