04-23-2003 Board of Review Packet

Home Browse Search

ft ^ Hennepin H«nn«pin County AsMtsor Dtpartimont A-2103 Government Center Minneapolis, Minnesota 55487-0231 www.co.hennepin.mn.us .a, To; From: Date: Re: W n , 6>i 1 Orono Mayor and Council Kim Jensen. Appraiser March 5.2003 2003 Assessment and Board of Appeal and Equalization The 2003 Orono Local Board of Appeal and Equalization has been scheduled for Wednesday, April 24, 2003. As preparation for the upcoming Board of Appeal and Equalization, please find the enclosed data to help you. There is market data, a chart listing the amount of growth for Lake Minnetonka communities, an assessment fact sheet, local board procedures and sales photos with characteristics from a sample of sales throughout the city. Summary of the 2003 Assessment Each year the estimated market values are analyzed along with sales data from the market. Appropriate adjustments for each property are made. The results of those adjustments, or sales growth for the following property types are as follows: Residential 14.3% Commercial/Industrial 14.4% Apartments 96.8% Townhouses 0.0% Duplex 16.6% Zero Lot Line 7.4% There are 3.790 taxable parcels in the city with a total market value of approximately $2,064,602,300. This value includes $38,049,000 in new construction improvements. The overall value increase for the City of Orono is 17.1%. The Local Board of Appeal and Equalization Process ib Value notices will be mailed approximately March 14.'^ Taxpayers with value or classification concerns should contact the assessor's office. During the initial conversation the property owner may discuss their concerns and review sales information with an appraiser. The majority of the callers are satisfied after a conversation with an appraiser. If additional attention is necessary the appraiser will review the property. An Equal Opportunity Employer Rtxyded Paper