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��� <br /> �._.. �,� emo <br /> � � <br /> . �� ftecyckd Paper <br /> To: Orono Mayor and Council <br /> FYom: Bill Davy <br /> Date: March 25,2008 <br /> Re: 2008 Assessment Local Board of Review <br /> The 2008 Orono Local Board of Review has been scheduled for Wednesday, April 16`h. As <br /> preparation for the Local Board of Review, please find the enclosed data to help you. There is <br /> a summary of Local Board duties and responsibilities, a chart listing the amount of assessment <br /> growth for Lake Minnetonka communities, and a book of sales with photos and characteristics <br /> from a sample of sales throughout the city. <br /> ' Summarv of the 2008 Assessment <br /> Each year estimated market values are analyzed along with data from the market. <br /> Adjustments, as appropriate for each type of property are made. The results of those <br /> adjustments for the 2008 assessment are as fellows: <br /> • Residential Lakeshore+ 0.8% <br /> • Residential Off Lake - 0.6% <br /> There are 3,919 taa{able parcels in the city with a total market value of approximately <br /> $3,099,625,000. This value includes $33,428,000 in new construction improvements. The <br /> overall value increase for the City of Orono is 0.2 %. <br /> Prior to the meeting if you should have any questions or concerns, please feel free to call me <br /> at, 612 348-6833. <br />