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Opinions Thru Brown

The Inflated Arthur Andersen Appraised Value
of the Rasmussen Right-of-Way Land.

by John Rasmussen

Please read a disclaimer for the statements I make on this website accusing judges, politicians and activists of criminal actions.



     The following two maps identify the location of the Rasmussen property. This first map shows the Hilchkanum homestead in relation to Lake Sammamish and the surrounding present cities.

     The second map shows the Rasmussen property located on Lake Sammamish, near the center of the original Hilchkanum homestead.

The Arthur Andersen BNSF Right-of-Way appraisal:

     Arthur Andersen, LLP provided a grossly inflated appraisal of the east Lake Sammamish right of way so that Burlington Northern Santa Fe could take an inflated illegal tax write-off. The Arthur Andersen appraisal of the whole right-of-way was for $41.76 million. The right-of-way portion of the Rasmussen property is described in "AA Parcel No. 17" on page 40 of the appraisal. Parcel 17 appraisal is shown in this next graphic.
    (My statements describing wrongdoing or criminal actions on this webpage are a First Amendment expression of my opinion.)

View the full Arthur Andersen East Lake Sammamish BNSF Right-of-Way Appraisal.
Find the description of the Rasmussen right-of-way land on page 40, "AA Parcel NO. 17".
(Note: Large file, 4mb.)

Do the math:

     The Arthur Andersen appraisal of the Parcel 17 land under the BNSF right-of-way is shown to be $1,300,000 per acre. The area of the Rasmussen right-of-way land is .35 acres.

    Arthur Andersen valued the land under the BNSF right-of-way on the Rasmussen property at $455,000.
    (.35 acres X $1,300,000 per acre = $455,000)

The King County BNSF Right-of-Way appraisal:

     Compare the Arthur Andersen, at $41.7 million, to the appraisal commissioned by King County at $13.97 Million. Both appraisals are of the same BNSF asset, the East Lake Sammamish Right-of-Way.

View the $13.97 Million ELS Appraisal for King County. (Significant pages.)

The King County Assessor's appraisal of the Rasmussen land:

     The Arthur Andersen appraisal of the Rasmussen right-of-way land was completely dishonest. The King County Assessor valued all of the Rasmussen land at $399,400 in 1996. See the following 9/4/1996 King County Assessor Notice of Valuation:
    (My statements describing wrongdoing or criminal actions on this webpage are a First Amendment expression of my opinion.)

     The Rasmussen lot, including the land under the BNSF right-of-way, totaled slightly more that one acre, but more important, the Rasmussens owned 120 feet of waterfront on Lake Sammamish. Most of the value of the Rasmussen land was based on the value of the waterfront. There was no waterfront within the BNSF right-of-way on the Rasmussen's land. As stated above, the land area of the Rasmussen's right-of-way was approximately .35 acre. This was one third of the total Rasmussen land area. It was completely dishonest for Arthur Andersen to value a third of the Rasmussen's land, containing none of the valuable waterfront, at more than the County Assessor valued all of the Rasmussen land.
    (My statements describing wrongdoing or criminal actions on this webpage are a First Amendment expression of my opinion.)

     Further, the property was purchased in 1993 at less than the King County assessed value, and sold in 2002 within one percent of the assessed value. So, historically, the value set for the Rasmussen's property by the King County Assessor was close to fair market value.

     As shown in the following graphic, the BNSF right-of-way occupied about one third of the total Rasmussen property, but contained none of the expensive waterfront.

Summary:

     The 1996 Arthur Andersen appraisal valued of the ELS BNSF Right-of-Way was grossly inflated, in my opinion. This is shown by:

    1. The Arthur Andersen appraisal for the right-of-way for BNSF was for $41.7 million. The King County appraisal for the same asset was for $13.97 million.

    2. Using the Arthur Andersen data to calculated the right-of-way value of the Rasmussen property, it is found to be $455,000. This is ridiculous because:

      A. The King County Assessor valued all of the land on the Rasmussen property at $399,400 in 1996. Further, the total Rasmussen land area was three times larger than the right-of-way area, and contained 120 feet of valuable Lake Sammamish waterfront.

      B. The Rasmussen property was purchased and sold for very near the King County assessed value, indicating that the 1996 County land appraisal of $399,400 was a good estimate of fair market value.

    3. Based on the documents and calculations shown above, in my opinion Arthur Andersen inflated the value of my right-of-way land at least three times, and more likely about five times.
        (My statements describing wrongdoing or criminal actions on this webpage are a First Amendment expression of my opinion.)