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TO: ' Mayor Peterson and Council Me*nbers <br />FROM: Ron Moorse, City Administrator <br />DATE: May 5.2003 <br />SUBJECT: Assessor Update and **Opcn Book** Meeting Option <br />Property Review update <br />The Assessor is completing property reviews today, and will have a better idea as to on wUch <br />properties there continue to be significant valuation issues. The Assessor will provide this information <br />at the work session. <br />**Open Book** Meeting Option <br />The Open Book meeting option is an option available to Cities in vi^ch the County Assessor provides <br />property valt ;'tion services. These cities can choose to transfer the Local Board of Review powers to <br />the County Board. Rather than having a Local Board of Review hearing, the County Assessor would <br />hold an “open book" meeting, at which the local property owners would have an oppor tunity to <br />question the valuation placed on the property. This is an informal process with the Assessing staff, <br />rather than a formal process with the City Council acting as the Local Board of R lew. The formal <br />appeal of the Assessor ’s valuation would be to the County Board, rather than to i i local Board of <br />Review.