04-26-1995 Council Minutes Board of Review

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MINUTES OF THE BOARD OF REVIEW MEETING HELD APRIL 26, 1995 • Ron Timm 4496 North Shore Drive 907- 117 -23 31 0008 - 1995 estimated market value is at $269,000 with a limited value of $250,800. The 1994 value was $228,000. He has done nothing to increase the value of the property. It is close to the Channel and 19. He- feels the house to the east has a deleterious effect as it is a $60,000 house that is virtually uninhabitable. It is decreasing the value of his property since it is a rental house used by snowmobilers, etc. and he rents out five boat slips in the summer. People are coming and going at all hours. He would like to have the Assessor out to discuss the situation in the neighborhood. He felt the property may be worth $225,000. Paul E Tylor, 3883 Cherry Avenue #08- 117 -23 33 0087 - 1995 value is $134,400 which is a 12% increase over the previous year. It would be fair to raise the value at the rate of inflation at 4% making it worth $123,000. Comparable appraisals are at $103,000 and $91,500 for homes that have sold recently. Ray Hoffinan 1000 Tonkawa Road #08- 117 -23 12 0005 - 1995 valuation is $367,000 which is an increase of $52,400 or 16.7 %. $285,000 would be a reasonable valuation based on comparable sales next door. He would consider his home a tear -down. He has 1.7 acres. Houses in the same neighborhood that sold have either been torn down or moved out and none were over $300,000. His home was built in 1946 and could not be moved because it is made of rock. He felt that since interest rates went down that values did not continue to rise. He was sent a worksheet as to how the • value was arrived at for his home but it was difficult to understand. Jim Gambone 1360 North Arm Drive #07- 117 -23 41 0085 - 1995 estimated market value is $180,000 and the 1994 value was at $164,000. There were no improvements in the last year. He was told by the Assessor's office that the land was a key element. He commented on the term "mass appraisal ". He asked if every house in the City went up a minimum of 8% since there is less land available and values are going up. Mayor Callahan commented that the Assessor had stated that some went up as little as 2% while others may have gone up 25 %. Gambone asked if it was public information to see what percentage each house was increased. Erickson responded that until the County Board accepts the assessment the information is not public and there is additional confidential information in the property files. Gambone asked if the City could ask Hennepin County to give them a list of all the property increases from 1994 to 1995. Mayor Callahan reminded Gambone that the issue before the Board is the value of his property, not general information which should be discussed at another time. Gambone asked if the gontract between the Assessor and the City was public information. Mayor Callahan responded that it was and could be reviewed with the City Administrator. He felt the value should be established at the rate of inflation which was 3% or $167,000. He objected to paying a greater share of the tax assessment than other properties and felt it should be distributed evenly. 4 •