Prescott
Bloomingdale, GA 31302

The subject of this offering consists of a singular approximate 3.323 acre vacant land tract generally located east of Prescott Lane and fronting along the northside of the westbound lane of the Jimmy Deloach Parkway within the municipality of Bloomingdale, Chatham County, Georgia 31302. The property is identified with the records of the Chatham County Board of Assessors as Property Identification Number 81019 01043. With reference to a “draft” plat of survey prepared by Coleman Company dated April 13, 2021, it appears the subject tract approximates 3.323 acres possessing an approximate noncontiguous northern boundary of 368.07 lineal feet along the southern boundary’s of “Lot C” and “Lot A,” an eastern boundary of approximately 458.85 lineal feet along the western boundary of “Collins Tract,” a southern boundary of approximately 604.99 lineal feet along the northside of the westbound lanes of The Jimmy Deloach Parkway and an approximate noncontiguous western boundary of approximately 774.72 lineal feet along the eastern boundary of “0.65 Parcel,” “Lot A” and Prescott Lane being a 60-foot wide private road. With reference to the provided “draft” plat of survey and Savannah Area Geographic Information System, it appears the subject asset is located within an area determined to be within Flood Zone X and the majority of the elevations appear to approximate between 23 and 26 feet above MSL. With reference to “Soil Survey of Bryan and Chatham Counties, Georgia” published by the United States Department of Agriculture Soil Conservation Service in conjunction with The University of Georgia, College of Agriculture, Agriculture Experiment Stations, dated March 1974, the soils appear to be exclusively Ogeechee Loamy Fine Sand. The property is zoned Agricultural/Recreational (RA-1). With reference to the Bloomingdale Unified Development Code, it appears permitted uses which might be reflective of highest and best use for the RA-1 district includes all permitted uses within the RA (Agricultural/Recreational) district which collectively permits general farming, raising of farm animals and poultry and single-family dwellings as well as churches, RV campgrounds, recreation parks, but does not include amusement parks. It should be noted that some of the above noted uses may require additional conditions and provisions for compliance. All interested parties should consult with the City of Bloomingdale regarding the permissibility of a specific use within the RA-1 district. Being vested in the ownership of Chatham County, the asset to be auctioned is not subject to ad valorem taxation by the City of Bloomingdale or Chatham County. Upon a sale the “new” owner of the asset will be subject to taxation by the City of Bloomingdale and Chatham County which assess all properties within its jurisdiction at 40% of the appraised value as established by the Chatham County tax assessor's office. It should be noted that all property within the State of Georgia is assessed at the 40% ratio excepting limited agricultural uses and exemptions. According to a representative from the tax assessor's office, tax appraised values are established relative to the “As Is” condition of the property on January 1, of the taxable year. Again, as this asset is currently vested in the ownership of Chatham County, it is not subject to ad valorem taxation. For the purpose of estimating the ad valorem tax liability, if it is assumed the minimum bid price of $500,000 equates to the total taxable value then the resulting assessed value would be $200,000 or 40% of the taxable value. As such and by application of the 2020 millage rates for the City Of Bloomingdale and Chatham County would appear to suggest that the ad valorem tax liability might approximate $6,325.