Chinese drywall problems in Parkland could soon lead to even lower property values for homes in the city.
The Broward Property Appraiser’s Office has received applications for property value reduction from 115 homeowners in Parkland dealing with Chinese drywall. If all the homeowners get the reduction they are looking for â€” 89 have already had their building value reduced 50 percent â€” the total value of the homes will go down more than $30 million.“This is affecting every Parkland resident,” said John Willis, a member of the Chinese Drywall Task Force. “The Broward Property Appraiser’s Office reduces building value by 50 percent for homes that have Chinese drywall. The total value of the homes was $74,285,860. The value after reduction, if all applications are approved, will be $43,917,800 [so] the total loss of taxable value will be $30,368,060.”