The drought that covers most of the mid west has affected many people right here in the Big Country.
Lake levels all over the area have been dropping. One official told me the lakes are so low they are setting new records every day. Lake Fort Phantom is nearly 80 percent empty causing problems for residents.
Faith Gage and her family have lived here for more than 30 years. She said this is one of the lowest levels she’s ever seen the lake.
The city’s land agent said these water levels impact home owners right in their pockets.
“That affects directly in the apprised prices for the lots at fort phantom,” said Travis McClure.
But this drought is not her biggest concern. The city decided in 2009 to start selling all of the leased lots around Lake Fort Phantom Hill.
“Things are being surveyed, things are being platted, things are being appraised, and then the offer letters are sent out,” said homeowner Gage.
“But it’s not that simply. Since the first offer letter in 2009 the city is not even half way done apprising all of the lots, causing Gage and others to worry.
“The other people here who have already had the opportunity to buy their property have already turned around and sold it than that changes the fair market value,” said Gage.
Gage said as more people sell their newly owned property it makes her property value go up. Meaning when she finally does get her offer letter it could be much higher than the first few offer letters made back in 2009.
“Fair market value goes up and you are not getting as many years leas to go against it but you know it’s not going to keep me from buying my lot and it’s not going to keep others from buying their lots,” said Gage.
Many residences said they hate to see the lake low but as the appraisers works their way around the lake to apprise each leased lot they say the drought could help them get lower appraised value.
The city’s land agent said the city is doing everything it can to try and move this process along but they can only do so much with the number of people on the job.