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r <br />MINUTES OF THE <br />ORONO IXICAI. BOARD OF APPFAI.S AND EQUAU/ATION MEETING <br />Wednesday, April 21,2004 <br />7:00 o'clock p.m. <br />Ms. Blackstonc thanked the Board for their consideration ofher issues. <br />4) Mike Adair, 650 Tonkawa Rd, PID ii05-l 17-23 33 0005 <br />Mr. Adai*" also indicated he had not understood the meeting to be stage two of the appeals process, <br />did not know about stage one, apologized and stated his appreciation of the Board ’s time to hear his <br />concerns. <br />Mr. Adair expressed he was stunned and troubled by the 34% increase in market value for his <br />property. He acknowledged he has a valuable piece of property on w hich he grew up and purchased <br />from his parents but stateil he linds it unbelievable that the market is being driven by the ‘haves ’ and <br />that the average person has trouble staying on his ow n properly. Mr. Adair staled he wanted some <br />understanding of how the property value could increase so much in one year. <br />Davy confirmed the parcel ha.: more than 50 ’ of lakcshore. <br />Mr. Adair agreed and slated he und<;rstood the majority of the property’s value was in the land itself. <br />Davy e.xpres.scd tha ‘ in the Tonkawa area the assessors have seen the entry type of market parcels <br />increase drastically over the past several years. The assessor had values of about S350.0(M) and now <br />the values have increa.sed to $550,000 or more based on sales that have occurred. <br />Mr. Adair acknowledged that he underskvid the relationship of values to sales. <br />White questioned if the assessors are trying to keep the assessed values so close to market values or <br />at least in the 95-l(M)% range, why does a parcel increase over 35% when the average increase in <br />lakcshore is 10% this year. <br />Davy stated the only reason for the larger percentage is that it was underx alued and even w iih <br />constant analysis of the markets and sales that iKcur. unfortunately there are some properties in <br />certain areas, on certain bays, or certain home l>pes that w ill receive dramaticaiiy higher increases <br />than the average. <br />Murphy empathized with Mr. Adair ’s concerns, explaining that the City Council has struggled with <br />the issue of keeping Orono residents at home on their properties, especially with lakcshore properties <br />and on fonkawa with its expensive properties. He concluded that it is a free market situation. <br />Mr. Adair replied he lived in the Tonkawa area long before the recent high sales prices occurred <br />Mayor Pekrson a.sked Davy if part of the problem w ith the higher increases experienced by Ms. <br />Blackstonc and Mr. Adair ’s properties is because of the 2(M)4 Reevaluation area in the southw est <br />quadrant that was physically visited this year. Davy indicated it dties not necessarily mean it would <br />not have gone up by that much. He explained the increases are primarily ba.sed on sales in that area <br />for the year. <br />icMurphy asked Mr. Adair for the taxable market value on his property. Mr. Adair responded the <br />taxable market value is $450,539 for 2005 with KKi’ of lakefront. He advised he was not interested <br />Pa|{e6of 11