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• <br />MINUTES OF THE BOARD OF REVIEW MEETING <br />HELD APRIL 29, 1993 <br />Rick Hollenkamp, 1513 Bay Ridge Road, #10- 117 -23 34 0008, 1992 <br />value was $225,500. He said he purchased this property in 1979 for <br />$170,000. The residence is 1,350 s.f. In 1982 the value increased <br />64 %, at which time he appeared before the Board and the value <br />remained the same. Since that time it has increased $129,000 or <br />122 %. He noted his shoreline is a soft, mud bottom, not sandy, and <br />the traff i s i n front of h i s res i dence has i ncreased. He referred <br />to three properties which recently sold in the neighborhood and <br />noted all have larger homes and better properties. Dave Wilde has <br />agreed the value is too high. <br />Dan Perkins, 55 Landmark Drive, #05- 117 -23.22 0010, 1993 value <br />$339,800. He stated he purchased the property in December 1992 for <br />$320,000, after it was listed for $325,000. <br />Erickson clarified that this is the residence that sustained fire <br />damage and questioned who he purchased from. <br />Perkins said that is the correct home, and they purchased directly <br />from the original owner. <br />Callahan agreed the market value should be lowered to reflect the • <br />selling price. <br />Jennifer Dotzenroth, 3225 Casco Circle, #20- 117 -23_43 0021, 1993 <br />value $212,000, 1992 value $186,100, or a $26,000 increase. She <br />explained the residence is only valued at $5,900 and needs to be <br />razed. She questioned the exorbitant increase in land value. She <br />noted many issues afflicting lakeshore owners such as increased <br />density, erosion, and mil foil. She felt something has to be done <br />to relieve the tax burden for the elderly and lower income <br />families. <br />Goetten stated they are well aware of the concerns of the Community <br />and they are always willing to take the time to listen. <br />Callahan indicated the current economic conditions drive the market <br />value, but It takes several years for property owners to realize <br />the change. <br />Jabbour explained the City receives the same amount of taxes <br />regardless of the assessed value. He added if the total assessed <br />value is too low the County or the State will increase it. He <br />stated this Council does support legislation to held the elderly <br />and lower income families to stay in their homes. <br />Dotzenroth felt the 15% increase was excessive. • <br />10 <br />