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„ . Ap�-21•2010 16 18 Waldron Law Offices, Ltd. 952-471-8859 2/4 <br /> JOkIN D. WAT�D1tON <br /> 1951 CONCORDIA STREET <br /> 'VVAXZATA,MINNFSOTA 55391-9320 <br /> TELEPHONE(952) 471-0940 email john@waldronlaw.com <br /> FAX(952)471-8859 <br /> Apri121,Z010 <br /> Orono City Council, acting as <br /> Local Board of Appeal and Equalization VIAFACSXNA�E AND U.S. MAIL <br /> 2750 Kelley Parkwa�► <br /> Orono, MN 55356 <br /> Re: 1951 Concoz'dia Street, Orano,P.I.D. No. 18-117-23-�4-0011 <br /> Dear Board Membezs: <br /> The pur�ose of this lette�r �s to contest fihe Valuation Notice we xeceived for the above <br /> properiy fox Assessment Year 2010. While there was a zeduction from 2009 (from$882,000.00 to <br /> $85I,000,00),we do not feel the reduction was sufficient. We have discussed these concerns with <br /> Tom Kunik of tk�e I�ennepin County Assessor's Office and he has declined to make any adjustment. <br /> Wa feel the closest comparable is 1935 Concordia Street, which has the same amount of <br /> lakeshore and which sold in lata 2009 for$600,000.00. A copy of the lxsting information for fihis <br /> �ro�erty is enclosed.The County Assessor informs us that this sale was a"short sale”and thezefore <br /> is not considered an axms-length tra.nsaction or is othezwise not considered a fair representation of <br /> fair market value.We disagree,based on the fact that tlais property had been on the market for what <br /> we beliove to be at least two years, vv�th no takers. At one poant during this ti.me, there was an <br /> auction foz the properry which failod to produce an�►acceptable buyors. C�zven tha long perivd of <br /> time this prope�rky was on the market with no buyezs,we feel that the price for which this properly <br /> most recently sold is, in fact, a true repzesentation of fair market valuo as of January 2, ZO10, Our <br /> property is closely comp arable to this and we believe aur assessed valuation should be decreased to <br /> at least$74�,000.00. The assessor has suggested 3585 Frederick Street as a comparable,but that is <br /> a lazger lot(.49 acres�versus our .35 aczes)with a much more substaz�tial house on it. <br /> Th�nk you for your oonsideration. � <br /> ' cerely, <br /> J hn B.Waldron <br /> � <br /> L�nclosures <br />