Scott Jacobs’ Statement of Economic Interests Makes for Interesting Reading

Scott Jacobs, the Republican-turned-Independent candidate for Brentsville Dist. supervisor in Prince William County, has filed his Statement of Economic Interests as a candidate (see here and here). It appears that once again, just as his sloppy handling of a simple filing fee cost him the chance to compete for the GOP nomination, Mr. Jacobs put his incompetence on display once again with this filing (and perhaps revealed an intriguing issue with the county’s assessment system.)

While The Derecho has already delved into these statements and discovered some interesting things of his own (with one correction – it is the 12923 Fitzwater parcel that is not listed on the statements submitted by Jacobs), there are other things to pick apart here as well.

Let’s take a closer look —

13460 Nokesville Rd. LISTED ON Scott Jacob’s Statement of Economic Interest H-2
.89 acres of Vacant land
Zoned agricultural
Assessed for $3500 in 2014
Purchased by Scott Jacobs 3/5/2014 for $50,000

12814/16 Fitzwater Dr. Zoned General Business LISTED ON Scott Jacob’s Statement of Economic Interest H-2
1 home and 1 commercial building (formerly Nokesville Flowers) on .8679 acres
Purchased 10/14/2010 for $330,000 (I think it was a short sale)
Property was purchased and still is held under Scott and Kim Jacobs
Assessed in 2014 for $390,100

This property fronts the large undeveloped tract known as Hale Farm (owned by real estate investors since late 90’s, including Bob Sowder). The Hale property is a huge property along the railroad tracks that the owners want to develop with high density housing and a VRE station

Then things really become interesting in January 2012 when Scott was appointed by Wally Covington to the Prince William County Strategic Plan Committee. As a member of the committee, Jacobs received briefings on various future county plans functions including transportation – specifically VRE and transit.

After the Prince William Strategic Plan Committee transportation briefing in November 2012, Scott Jacobs purchased the following properties along the railroad tracks in Nokesville at the location of the proposed future Nokesville VRE:

12917 Fitzwater Dr. SFH on .5583 acres, Zoned General Business LISTED ON Scott Jacob’s Statement of Economic Interest H-2
Purchased 9/27/12 for $240,000
Property was bought by Scott and Kim Jacobs but sold for $330,000 to 7/30/14 to Fitzwater Dr. Acquisition LLC, which made Scott and his wife $90,000 for the two years they held the property.
Assessed in 2014 for $234,500
Fitzwater Dr. Acquisition LLC. Was formed 7/2/14
The registered agent is Nicholas Jacobs (Scott’s brother) but there could be multiple others in the LLC
Because the property is listed on Scott Jacob’s Schedule H-2 of his Statement of Economic Interests as one of his properties, that means Scott and/or his wife Kimberly are also partners in Fitzwater Dr. Acquisition LLC.

12523 Marsteller Dr. Vacant lot 1.0 acres, zoned General Business LISTED ON Scott Jacob’s Statement of Economic Interest H-2
Purchased by Scott Jacobs 11/1/2012 for $30,000
Assessed in 2014 for $22,200

12615 Marsteller Dr. Vacant lot 1.0 acres, zoned General Business LISTED ON Scott Jacob’s Statement of Economic Interest H-2
Purchased by Scott Jacobs 11/1/2012 for $30,000
Assessed in 2014 for $22,200

12923 Fitzwater SFH on .4851 acres, Zoned General Business NOT LISTED ON Scott Jacob’s Statement of Economic Interest H-2
Purchased 8/1/2014 by Scott and Kim Jacobs for $270,000
Assessed in 2014 for $207,700
Scott has told people he is going to relocate his growing real estate business to this house.

All the Fitzwater lots would be in the section of Nokesville that Scott wants to develop and make walkable with shops and restaurants.
The Marsteller lots are alongside the railroad tracks where the Nokesville VRE would be built if it was put into the transportation plan.

Properties outside PWC:
120/230 Executive Center Parkway Fredericksburg, VA LISTED ON Scott Jacob’s Statement of Economic Interest H-2

With the exception of 12814/16 Fitzwater Dr. parcel, each of the properties Jacobs owns in Prince William county are assessed for lower than what he paid for them even though some of these parcels were purchased at times when the real estate market in the county was further depressed than it is today. Since the county assesses real estate every year and it bases values on the sale prices of nearby properties, why does Jacobs appear to be getting such a discount on his property taxes via the curiously lower assessment values?

So, in addition to “forgetting” to disclose his most recent property purchase made on Aug. 1 of this year on these filings made on Oct. 20, one has to wonder if Jacobs is getting some sort of preferential treatment (a “Friends and Family Discount”?) from the county on his property taxes thanks to their current assessment values vis-a-vis their actual purchase prices.


4 thoughts on “Scott Jacobs’ Statement of Economic Interests Makes for Interesting Reading

  1. It seems to me that if a person does not get their paperwork in to run for their party, they should wait until the next election to try again. To switch parties to independent is to run against the party you once pledged allegiance. It divides the vote and gives the Democratic candidate an unfair advantage. It seems unethical and selfish on several levels. How can one trust such a candidate to look out for anyone’s welfare aside from their own?

  2. Scott Jacobs seems very incompetent, I wouldn’t be surprised if his imcompantants carried over when dealing with his clients. I expect that some of his clients will start coming out with their own personal horror stories dealing with with that guy.

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