05-08-2006 Council Packet Reconvened Board of Appeal/Equalization

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� MINUTES OF THE ORONO BOARD OF APPEAL AND EQUALIZATION Wednesday,April 19, 2006 7:00 o'clock p.m. ROLL The Orono Board of Review met on the above date with the following members present: Mayor Barbara Peterson, Council Members Jim White, Lili McMillan, and Jim Murphy. The following represented City Staff: Ron Moorse, City Administrator; Hennepin County Appraisers William Davy and Tom Kunik; and Recorder Jackie Young. Council Member Bob Sansevere was absent. Mayor Peterson called the Board of Appeal and Equalization to order at 7:00 p.m. APPEALS Peterson explained the procedure that would be followed in hearing the appeals. Davy explained that tonight's meeting is intended to give Orono residents the opportunity to discuss their property valuations and present any evidence they feel would help show why their market valuation is incorrect for 2006. Davy stated the valuations are arrived at by studying the market and by doing market ratio studies of sales through the City of Orono. Those assessments are turned into the Hennepin County Review Board,which reviews the assessments to insure that certain standards are being met. Davy stated each year the Hennepin County Assessars Office conducts a sales analysis to determine what type of valuation changes need to occur. Davy stated the values are based on sales from October 1, 2004 to September 30, 2005, with the overall valuation of properties in the City needing to be between 90 percent and 105 percent of the valuation determined through the sales analysis. Davy indicated following a companson of the estimated market value to the sale price of the properties, if they find that the market values are low,they needed to be adjusted. Davy stated if, after reviewing the valuation, the property owner is not satisfied with the valuation, they have the right to appeal their valuation at the County Board of Review. Davy stated following appeal by a property owner to the local Board, the assessor would review the information on file regarding the properiy. The property owner may request that the assessor visit the property and provide information on how that valuation is obtained. After reviewing the property, the assessor brings his findings back to the local Board for their approval, and the property owner may appear at the Reconvened Board of Appeal and Equalization if he is still dissatisfied with the valuation assigned to the property. The property owner may also choose to appeal the local Board's decision by appearing before the County Board of Equalization, followed by the Minnesota Tax Court. APPEALS 1. John Ericson, 1620 Shadywood Road,PID 17-117-23 21 0012. Ericson stated his estimated market value for 2005 was $980,000 and for 2006 is $1,083,000, which is an increase of�103,000 in one year. Ericson stated his house was built in 1902 and was remodeled approximately 15 years ago and has had no further improvements. Ericson commented his residence is not like a new house and is, instead, over 100 years old. PAGE 1