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MINUTES OF THE BOARD OF REVIEW MEETING <br />HELD APRIL 29, 1993 <br />Callahan stated that would be fine. <br />Mrs. Jester questioned if a second review would be necessary if the <br />Assessor has already reviewed the property. <br />Callahan explained that would not be necessary, but for purposes <br />of preserving their rights, appellants must sign in and /or record <br />their appeal at or by this meeting. <br />Mrs. Jester clarified that the Assessor will review properties <br />deemed appropriate and make a recommendation at the Board's next <br />meeting, but ultimately the Board has the final decision. <br />Callahan concurred. <br />Erickson clarified that they do not use comparables, but rather a <br />mass appraisal system, and they do some comparisons with property <br />sales. He noted there generally is a vast difference between fee <br />appraisals and their market value. <br />Callahan asked him to describe the method used. <br />Erickson explained market values are established at the first of <br />the year. The County will compare market value with selling prices <br />to determine a median, which must be within 93 %. If the overall <br />median is low, the County will increase the entire city's value. <br />He indicated building and land have separate values, and noted <br />areas of the City sell differently and therefore are considered <br />individually. He reported if appellants are unhappy with the <br />results of this Board, they have the right to appeal to the County <br />Board, or can go to Tax Court, but reminded them there is always <br />a chance the value could increase. <br />Mr. Ehramjaim asked if the Assessors take into account the time it <br />takes to sell a property. <br />Erickson said they only consider sales within a certain time <br />period, and se I l i ng time wou I d be considered a small factor figured <br />into the median. <br />Jim Beise, 2435 Dunwoody Avenue, #20- 117 -23 22 0010, 1993 value <br />$94,30, $92 value $91,000. He fdlt the property was worth $82,000. <br />He said the property was appraised prior to purchase at $87,000, <br />but is an old house in need of repair. He added the chimney is <br />deteriorating but cannot be repaired in the existing location as <br />T 1 <br />it does not meet setbacks. • <br />Callahan asked if the house was in this condition when purchased. <br />'ri <br />