04-29-2008 Council Packet Reconvened Board of Appeal/Equalization

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If"actual sales data"is ignored or found to be unreliable the appraiser must be making subjective appraisals based on their opinion of Market Value. The appraiser is making subjective decisions as to which properties should be used or not used to determine"comparable sales data." In my experience appraisals and estimates are wrong by definition. Appraisals are a guess by an informed individual based on their experience and interpretation of the available information. The available information is"comparable sales data"as used and interpreted by the appraiser. Another Fairness issue may be the desire to encourage new construction by keeping property taxes low during construction and then for a several years after the house is completed. That policy makes it difficult to raise taxes all at once on these expensive houses. This policy is unfair to existing homeowners! Hennepin County Road 51 Our half acre lot is not really lakeshore property because County Road 51 is between our house and the lake. The Highway diminishes Market Value for the following reasons: T'he highway is three lanes wide in front of our house and grass will not grow close to the road because of all the salt used by the County during the winter. I estimate that the lighway-aad the damaged�-ass is at least 50 feet wide. It is dangerous for adults,children and grandchildren to cross the highway or play near the highway. The speed limit is 35 mph but most cars are going faster. The highway also encourages people from the Maxwell Bay Public Landing to trespass by fishing along our shoreline or from our docks. Trespassers also use our docks to pick up and drop off friends that have parked at the landing: it is too far for boats to go to Maxwell Bay through the channels. This trespassing causes damage to property and diminishes our Market Value. In addition to the soft and mucky lake bottom caused by the prevailing Southerly winds the Highway Department used rip-rap to protect the Highway from erosion. This rip-rap is probably 5 feet wide above the lakeshore and extends another 5-10 feet underwater. The rip-rap,the Southerly winds, and DNR regulations prevent us from having a sandy beach. Other Issues I have looked at several other properties for sale around the lake and although the market is soft right now I have not seen half acre lots selling for anyway near$893,000. At the height of the market our property may have sold for$600,000. I would like to see the"comparable sales data"used to value our property if it is available. Cur Esti�nated Markei Vaiue has increased irom$64's,�0u in 2u06,to$746,OU0 in 2007 and$893,U00 in 2008,a 38.88%increase. These increases caused us to pay more than our"fair share"and based on the above information we will continue to pay more than our"fair share"unless our Estimated Market Value is brought in line with all other properties. Based on my neighbors Estimated Market Value of$1,709,000 our property should be valued at no more than$450,000 based on a ratio of 25%. This is enough of a difference to pursue this further. i � 1 .. �'�) /lit�� . / ' � �'�(/ �' ✓ „