04-26-1995 Board of Review Minutes

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MINUTES OF THE BOARD OF REVIEW MEETING • HELD APRIL 26, 1995 Frank and Susan Koubsky. 4784 North Shore Drive 907- 117 -23 32 0012 - 1995 valuation was $94,000. They have been in the house about a year and paid $92,500 because of a bidding war. Previous owners had contested the 1994 valuation and it was reduced to $85,200. This is a small two - bedroom home with a very steep driveway. There is little that could be done to correct the driveway. They feel it is worth $89,000. Chris and Ga!y Valerius 3750 Bayside Road #05- 117 -23 21 0020 - 1995 valuation was $248,300 and the 1994 valuation was $209,000 which is an increase of $39,300. The house was built in 1977 and no improvements have been made except a new garage was added last year for $8,000. They feel the house was poorly built and needs a new roof, new windows, siding and doors. The lot is 50% wetlands and the lakeshore is a wetland. The house was appraised in January for possible refinancing at $212,000. They feel the valuation should be at $212,000 - $215,000. Their lakeshore is a separate parcel that went up in value from $1,100 to $2,000. Phil Byers 3083 Farview Lane 904- 117 -23 33 0005 - 1995 estimated market value of $410,700 and a reasonable number would be $385,700. Dave at the Assessor's office cited two comparables - 3090 Farview Lane sold in 1993 for $457,500 which is newer with a finished basement, paved drive and septic system that is in compliance, and 1895 Fox Ridge Road sold for $459,000 in 1994 but he could not find the property. Byers based his figures on the property at 2920 Fox Street that has • a value of $136,000 for next year which is up 7 %. That is a 7 -acre property, 1/3 of which is unbuildable so he took 4.69 acres with 90% of the value in land that works out to about $19,000 per acre. His second argument is that the unfunded septic mandate should be subtracted from the 1995 estimated value as well as the replacement of his driveway and the adjusted land value. Carl T Johnson. 3105 North Shore Drive #09- 117 -23 32 0016 - 1995 market value is at $527,000 and the 1994 value was at $454,000. This is an increase of $73,000 which seems exorbitant. He has sent a letter to the City offices. He wanted to add that an appropriate value for his home would be $480,000 which was an appraisal value from last November when the home was refinanced. Linda Cummin zs. 1165 Brown Road South #10- 117 -23 24 0020 - 1995 market value was $127,800 and the limited value is at $123,200. The value was at $112,100 in 1994. The home was built in 1900 and is across from the railroad tracks. When she purchased the home 4'h years ago, the value was at $86,100. She paid $113,000 because there was little choice. There hasbeen a progressive 10% increase every year since she bought the house. She doesn't feel property values have actually increased at that rate. The taxes have increased 100 %. Eugene Clark Jr 1955 Heritaize Drive 410- 117 -23 13 0014 - Asked to have his appearance recorded to preserve right to further appeal (to County). 6 40