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MINUTES OF THE ORONO BOARD OF REVIEW <br />HELD APRIL 26,2000 <br />400 percent increase in the value of their property over the years and are now facing the <br />situation where they are being taxed out of their home. Purdy commented in her view the <br />real estate market has ups and downs. Purdy remarked in her experience property taxes <br />do not decrease if the real estate market goes down, which is not fair in her opinion. <br />Mayor Jabbour stated in the year 1976, the City experienced a 20 percent depreciation in <br />lakeshore values. Jabbour stated the City receives the same amount of money regardless <br />of the value set on each individual home, noting the City has to comply with levy limits. <br />Purdy commented they have not experienced a tax decrease on their property taxes in <br />the 27 years they have resided in the home. Purdy stated the value on their home has gone <br />up the maximum amount allowable every year. <br />Written Appeals Submitted: <br />Ronald B. Sheldon, 3225 Bayside Road <br />Jim Zimmerman, 2745 Shadyvvood Road <br />Keith Aakre, 3127 Casco Circle <br />ADJOURNMENT <br />Peterson moved, Sansevere seconded, to continue the Board of Review to Monday, <br />May 8th at 6:30 p.m. <br />The Board of Review was adjourned at 8:12 p.m. <br />ATTEST: <br />Linda S. Vee, City Clerk Gabriel Jabbour, Mayor <br />Page 5 <br />V