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n <br />MINUTES OF THE BOARD OF REVIEW MEETING <br />HELD APRIL 29, 1993 <br />Beise said it was, but he assumed he would be allowed to repair it. <br />He said he paid less than $87,000 as he purchased from his <br />grandmother. <br />Greg Gerard, 2610 Mapleridge Lane, #21- 117 -23 21 0009, 1993 value <br />$280,900. He reported he purchased this property in June 1992 for <br />$250,000. He said that the property has less than 50' of Lakeshore <br />frontage, there are a number of easements across the property, and <br />he purchased it after being on the market for over 6 months. He <br />stated he has filed an abatement as well. <br />Callahan asked if he would be satisfied with $250,000. <br />Gerard said he would. <br />All members agreed this would be an appropriate change subject to <br />the appropriate sales documents being shown to the Assessor. <br />John Ericson, 1620 Shadywood Road, #17- 117 -23 21 0012, 1993 value <br />40 $263,000, 1992 value $234,600. He noted this is a $29,000 increase. <br />He stated every time someone wishes to move out to the lake area, <br />he pays the price. He added he is not allowed to build on the <br />vacant parcel, and lives next to North Arm Landing. He felt a 3% <br />increase would be appropriate. <br />Ken Roelofs, 1650 Shadywood Road, #17- 117 -23 21 0014, 1993 value <br />$267,600, 1992 value $239,800. He stated this is an 11.6% increase, <br />and he has not done any work to the property. He felt a 2 -3% <br />increase would be reasonable. <br />is <br />Callahan noted the adjacent house at 1670 Shadywood Road just sold. <br />Roelof stated it sold for $235,000, and the properties are not <br />substantially different. <br />Callahan questioned the market value of the property. <br />Erickson stated the market value for 1670 Shadywood Road is <br />$204,000, which is a 86% sales ratio. He noted due to the sales <br />ratio, the land values for properties along North Shore Drive were <br />increased appropriately 29 %. <br />3 <br />