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April 15. 1997 <br />RECEIVED <br />APR 1 7 1997 <br />. • V wHONO1 ocal Board of Re\ iew <br />Mayor - City of Orono <br />P.d. Box 66 <br />Crystal Bay. MN 55343 <br />Rc: Property ID: 05-117-23 43 0002 - (865 Partenwood Road) <br />1 would like to appeal my 1997 value for taxes payable in 1998. The key reason is the difficulty <br />(and reduced price) a number of people on my street, in my block have had selling their homes <br />o\er the past few^ years. 1 suspect this difficulty has to do with the fact that the lots are virtually <br />unbuildable or expandable without a variance due to hardcover zoning restrictions. Although it <br />has been possible, historically, to get limited variance relief, there is no assurance, to a buyer, as <br />to the future availability of variances. In addition, there are significant lead times associated with <br />such variances. Virtually my entire lot is within 75 feet of the lake, in which, there is a no-more- <br />than-zero hardcover requirement. My next door neighbor at 815 Partenwood has been trying to <br />sell their house for over a year. They started at o\ er $800,000 and have gotten no takers for the <br />past four months at the current price of $500,000. fheir frontage and square footage are <br />comparable. 1 understand that 900 Partenwood .sold within the past year for $657,000 and is <br />comparable. 1 am aware that the property at 850 Partenwood sold at a price substantially below <br />its asking price about three years ago. I know that there have been other Partenwood <br />transactions, but am not aware of the details. I do not believe that other transactions that have <br />occurred with area hi>uses or lots not as severely restricted as mine should be used as <br />comparables for assessmetit purposes, particularly since there are \ery good comparables on my <br />block. <br />An appropriate discount for restricted buildability should be established and applied permanently <br />to m\ property. I would propose that a $610,000 market value (93% of the 900 Partenwood <br />value of $657,000) be applied as my 1997 Estimated Market Value instead of $762,000 as <br />proposed. This represents an approximate 20°/o discount which i would like to document as an <br />appropriate discount lor this and future assessments. <br />Sincerely, <br />R. 1 hint Greene <br />865 Partenwood Road <br />Long Lake. MN 55356 <br />612/904-5701 (W)