$25K In Taxes? On This Dump?

Life at the top may not be all it's cracked up to be. On March 27, William Justen, vice president of the Koll Co., a real-estate developer, appeared on "Lifestyles of the Rich and Famous," leading a tour of his Pike Place Market-area condominium.

Justen showed off the handsome 17th-floor penthouse atop Market Place Tower, 2033 First Ave. Included on the program was footage of a spectacular 50-foot pool that cascades over the building. Asked by "Lifestyles" what he'd take for the place with its lofty ceilings, marble floors and unobstructed views of the city and Puget Sound, Justen mentioned a price: $4.75 million.

But, hold on, that was just for the TV audience. Meanwhile, Justen and his wife, Sue Justen, have filed an appeal with the King County Board of Equalization to lower the valuation of the condo. The assessor, looking at comparable sales, figured the place is worth $2,358,400.

Justen's petition asking to lower the assessment cites a passel of problems and hardships. Among them:

-- The floor plan, because it had to be wrapped around central utilities, had to have a donut-shaped configuration.

-- There's only one elevator.

-- The ceiling, rising in some areas to 30 feet high, makes certain areas "impossible to heat."

-- The condo is an all-glass structure with south and west exposure, making it a hostile environment for furnishings, plants and art. Furnishings "must be kept protected with heavy padding."

-- The pool is little used because it lacks a railing and looks as if a swimmer could be swept over the edge.

-- Guests can't walk on the patio grass because "it badly stains the white pavers."

Justen contests the assessed valuation, saying the assessor figured it using sales of condos in "clean and quiet neighborhoods" such as Kirkland's Carillon Point rather than the First Avenue environment, which he calls "a restoration area." He argues the assessed value should take into consideration only the actual costs (as developer he received a price break on the condo shell), less depreciation.

He pegs the total value at $839,000.

But despite the headaches, Justen, former head of Seattle's Building and Land Use Department, said he likes the condo and doesn't plan to sell, unless, say, "a zillionaire wants it and makes an offer I can't refuse."

Justen did say he has regrets that the "Lifestyles" program left the wrong impression. His condo, he says, is not in a class with the residences of Microsoft chairman Bill Gates or high-tech mogul Paul Allen, also shown on the program. He describes the penthouse merely as "a nice home in the inner city."

Of the more than $1 million misunderstanding with the assessor, he said, "It's a matter of looking at the glass. The assessor sees it half full. When I look, I see it half empty."

Justen is most provoked that the Board of Equalization couldn't hear his appeal until after he had to write a check (due tomorrow) for his property taxes. He had to write it for $25,777.03, rather than the $5,148 he had paid last year when the penthouse was assessed at a modest $428,000.

No word yet when the board will hear Justen's appeal. But the assessor's office is planning to argue against lowering the assessment and already has obtained a tape of the "Lifestyles" program to make a case before the Board of Equalization. It should be interesting viewing.

Jean Godden's column appears Sunday, Monday, Wednesday and Friday in the Local News section of The Times. Her phone is 464-8300.