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CITY OF ORONO <br /> Local Board of Appeal and Equalization <br /> Wednesday,April 21, 2010 <br /> 7:00 o'clock p.m. <br /> Addison indicated he does not have that information. <br /> 4. BILL WYATT,4235 COUNTY ROAD 6,PID#31-118-23 12 0013 <br /> Wyatt indicated he appeared tonight to reserve his right to appear befare the Hennepin County Board and <br /> had nothing else to add to the record. <br /> 5. CHRIS MANDY,2175 WEBBER ffiLLS ROAD,PID#03-117-23-34-0003 <br /> Mandy stated he purchased the home on February 1 l, 2010, for$389,000. They also received back <br /> $10,000 for the closing costs and the assessment for the sewer of$4,000. When they received their <br /> appraisal at closing, it valued the home at$390,000. The letter fram the Hennepin County Assessor's <br /> Office values it at$455,000 for 2010. <br /> Mandy noted he did speak with the assessor and he came out and looked at the home. The assessor <br /> reduced the valuarion from 455 to 430. <br /> White asked when the house was purchased. <br /> Mandy indicated they purchased the home in February of 2010. Mandy noted the listing history of the <br /> house shows that the home was originally put on the market for$529,000, with the price being reduced <br /> routinely. Mandy noted the property sat on the market for 56 days before they purchased the home. <br /> White asked if the sale would count on this year's valuation. <br /> Stulc stated the Department of Revenue would look at this sale for the 2011 assessment. Stulc indicated <br /> the Assessor's Office will not ignore this sale and will review it. Stulc indicated they will be in contact <br /> with Mr. Mandy. <br /> Stulc noted this was a foreclosed house but that he will see how it compares to the normal real estate <br /> market. <br /> 6. BRAD BAKKE,3235 CRYSTAL BAY ROAD,PID#17-117-23 41 0009 <br /> Bakke stated between his home and both homes on either side of him, the last one you would pick would <br /> be his. Bakke stated the first property on the corner is valued at$20,000 less than his,the other adjoining <br /> home is valued at$23,000 less than his, and the house to the west is valued $86,000 less than his. In <br /> addition, a house a little further away is valued at $174,000 less than his. Bakke indicated he would trade <br /> his house for any one of those. <br /> Bakke stated he would like to meet with the assessor. <br /> Stulc noted he has not spoken with Mr. Bakke but that they would schedule an inspection and review the <br /> information. <br /> PAGE 4 of 6 <br />