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MINUTES OF THE BOARD OF REVIEW MEETING <br />HELD APRIL 29, 1993 <br />Erickson noted in these cases the selling price was not used as the <br />market value. <br />Stockton asked why it is then used to figure market value for his <br />property. He sa i d when one i s on a f i xed i ncome, you shou I d not <br />have to worry about increases as such. He felt a $3,000 increase <br />would be appropriate. <br />Rollie Reinbrenner Dana HaImrast 3287 Casco Circle #20- 117 -23 <br />43 0044, 1993 value $99,400, 1992 value $86,300, which is a 15.2% <br />increase. He noted the property has not been improved except for <br />the roof. He stated many people do not come to this meeting as they <br />feel their valuation may end up higher. <br />Callahan stated that is unfounded and many times appellants are <br />given relief. <br />Hurr questioned the amount of shoreline. <br />Reinbrenner said they do not have any shoreline, and added about <br />four years ago he contacted the Assessor because of an excessive • <br />increase in the value and was told "for crying out loud, look <br />around you ". He felt the value should be $89,000. <br />Jabbour apologized for the comment made by the former Assessor. <br />Jeff Marshall 4784 North Shore Drive, #07- 117 -2.3 32 0012, 1993 <br />value $94,000. He said he should have appeared before them last <br />year when the value exceeded $90,000. He noted a recent appraisal <br />values the property at $88,000, and he felt that a buyer would not <br />pay much more for the property. <br />Hurr noted the cost approach value on this appraisal is $94,300. <br />Erickson explained the cost approach tends to set the upper limit <br />of the property. <br />Vartkes Ehramiiam, 1050 Edaewood Hills Road, #02- 117 -23 13 0003, <br />1993 value $471,500 which is a 3.5% increase. He questioned the <br />increase as his property was not reviewed by the Assessor. He noted <br />he has experienced a 10% increase in the last two years. He <br />understood that houses in this price range are not selling as <br />quickly as others. He felt the property is worth $420,000 to <br />$425,000. <br />Hurr questioned <br />the size of <br />the <br />lot. <br />• <br />Ehramjiam said <br />it is a one <br />acre <br />lot on a private street. <br />2 <br />