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••'Apr. 2c. :000 -;:02rM HClilTWHlL 6:22 30 363 3 ’* • ! 7 ' <br />• < .. •' ‘j ' *x <br />Keith Aakre <br />3127 Casco Circle <br />Orono, MN 55391 <br />26 April 2000 <br />Orono Local Board of Review <br />P.O. Box 66 <br />Crv-stal Bay, MN 55323 <br />Attention: Board of Review <br />Subject: Appeal of Valuation <br />Reference: Property ID 20-117*23 34 0022 ; 3127 Casco Circle <br />’ID <br />A op 9 6 ?nnn <br />k “iw« %ij <br />In accordance with the process set forth in the Valuation Notice for 2000 taxes payable <br />in 2001, the following appeal is made regarding the Estimated Market Value and Market <br />Value for Taxation for tlie referenced property: <br />Background: I purchased The properly in June of I99S for $725,000, The property' had <br />been listed in 1997 without an offer and I made the only offer during the listing period in <br />1998. The home is in good repair and no remodeling has been done since it was <br />constructed in 1984, however, the design is not optimal from a layout standpoint. For <br />e.vample, the living room faces away from the lake and the master bedroom is a loft style <br />that IS without doors and is partially open to the Ih'ing room, kitchen, dining room and an <br />open stairwell. These issues, coupled with an abundance of stairs in the deign, served to <br />limit the market for the property. <br />The tax at the point of purchase was the highest on Casco Point- even though larger <br />houses with larger lots and greater lakcshore frontage were in the area. The following is <br />the history' of Estimated Market Value (E\W) and Market Value for Taxation (MVTj : <br />EMV MVT <br />1997 payable in 1998 $650,000 5650,000 <br />1998 payable in 1999 $730,500 $715,000 <br />1999 payable in 2000 $725,000 $725,000 <br />2000 payable in 2001 $858,000 $786,600