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JRh O1 2000 12: 11RM MRMORTENSON CO 9415911381 p. l <br /> �/�� � r� 9sa " � / /" ���� <br /> Gity of Orono � ���t' ��"�� <br /> 02750 Kelley Parkway <br /> Orono, MN 55356 ��G�95� Cs t ve� 7 d <br /> f�SS�SSo� • <br /> Attention; Assessors Office T��'" � <br /> April 10, 2008 <br /> Re: 1473 Bay Ridge Road <br /> Property ID # 10-117-23 34 0005 <br /> I would appreciate yowr review and adjustment to the Estimated Market Value of my <br /> property at 1473 Bay Ridge Road for taxes payable in 2009. I realize that the current <br /> EMV has not increased since last year although I thought the preti�ious EMV was too <br /> high, following 2-3 years of significant increases. I neglected to contact you last year on a <br /> tirnely basis. <br /> First, I simply do not believe that my home could be sold for the current Estimated <br /> Market Va1ue of$1,044,000 in today's depressed real estate market. I sincerely believe <br /> that this amount is at least $lOo,000-150,o�0 too high. This is based on looking at a <br /> significant amount of lakeshore property with reducedldepressed values and reflecting <br /> that ours is across busy County Road 15 from the lake and therefore less attractivc; then <br /> others, <br /> The most applicable comparables would be in my imrnediate neighborhood which <br /> consists of eight homes on a single,private street. I believe that many of these homes on <br /> our s(�eet are also classified too high and that the current real estate market will take a <br /> number of years to recover to previous levels and our current value is not reflective of <br /> this situation. <br /> On our street of eight homes, my current Estimated Matket Value is the second highest, <br /> and I do not believe that this is equitable. The property at 1449 is the highest value and is <br /> an anomaly, as it is the only cornplete tear down and all new construction of the eight <br /> homes. All the other homes are of the late 1950/ early 1960 vintage. <br /> The property at 1425 zs valued less than ours and has a similar size, age and type house <br /> but is on a large, lot and a half parcel. <br /> The property at 1501 is valued $48,000 less than ours and has a similar size, age and <br /> quality horne. <br /> The property at 1525 was recently completely renovated and has a lower Estimated <br /> Market Va1ue. <br />