Assumption Parish Sinkhole Update - KLFY News 10

Assumption Parish Sinkhole Update

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Texas Brine has already met with over 56 residents scheduling appointments with them to assess their homes and damages from the sinkhole disaster.

"It's as if they're appraising any other home for sale and come up with an appraised value based on what they feel value was prior to the event," said Texas Brine spokesman Sonny Cranch.

Cranch said the basis for home assessments will be on appraisals before the incident and most of all comparable sales; meaning the price of your home will be based on the recent sales price of similar homes in the area.

One of the many factors Cranch said affecting the buyouts is waiting on federal guidelines pertaining to federal suits filed as who they could and could not contact.

"Everyone who has legal representation has to deal with their counsel we have to tell them that we cannot deal with them directly," said Cranch.

Cranch said those  working out a deal directly with Texas Brine could expect to wait an average of 30 days between the buyout agreement and receiving a check in the mail.

Assumption Parish Sheriff Mike Waguespack is waiting to see how buyouts affect parish tax coffers and if new home construction elsewhere in the parish picks up the slack.

"Hopefully, every house we lose somebody else is building in other areas of the parish, so maybe an offset in the long run."

Waguespack anticipates, however, the fallout relating to the $14 million in property taxes brought in annually by the businesses in the disaster area as being more severe.

"What's operating on this dome as far as inventory equipment etc. is about 23 percent of our tax base, so it begins to minimize inventory or begin to lose operators then it's something were going to have to try to recover.""

 Daren Robert

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