Closed church real estate values

Closed church real estate values

The real estate experts are saying that the first 16 church properties up for sale are worth $28 million. But they caution that the actual number can be lower or higher. For one thing, the threat of more sit-ins, and the air of desperation surrounding the archdiocese could drive prices lower.

Of course, since the values have been set by tax assessors and these are properties that have never been taxed, that makes the valuation even more iffy. In other words, nobody really knows how much the archdiocese is going to make from the propety sales. Thus wild claims of financial windfalls for the archdiocese by those protesting the closings are not realistic. As Archbishop O’Malley has suggested, people who think that the Church is enriching herself at the expense of individual parishes are kidding themselves.