05-08-1995 Council Packet - Laserfiche WebLink

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MINUTES OF THE BOARD OF REMEW MEETING HELD APRIL 26, 1995 Tf»rrv Kelly 440*^ Rav>;ide RoaH i^Q6-l 17-23 21 21 0004 - 1995 market value is $72,000 and went up to $81,500 and he thinks this is too high The house is over 100 years old. They just took out a S9 000 loan for a new septic system to bring it up to code. He feels that it is across the road from homes that sell for $250,000 which is why it is valued so high $75,000 would be a fair value for this 2 acre lot. r.r>» r,.r.rd. 2610 M.nl^ridae Lane. »21-I17.23 21 QPQg - 1995 valuation « 1299 He distributed some information he had prepared He calculated the property at a value of S266 000 based on the purchase price of the home (S250.CO 2 years ago), detenoration, rate of .nflat.on (3 /.) market value and comparables of homes nearbv. limited value of probity, limited shoreline and encroachments (neighbor has an easement) on the property In '992 "he . which was reduced to S28I.OOO after his appeal to the County He appealed to the Opr m 1993 and the property was reduced to S250.000 The value for 1994 was $269,000 to which he sent a letter to L City but he was unable to appear at the meeting There has been a 20% increase m two years The home of 1700 s f was built in 1979 but there is major detenoration m the home which was covered up by the previous owner. There is 2 bedrooms with 1 '/r baths The property is very close to the lot lines and hardcover limits. The neighbor is claiming npanan nghts to hs shoreline and he has talked to the DNR about this A home in Minnetonka Beach wmh 120 of shoreline and a better view sold for $200,000. That home is separated from the Lake by County Road 15. He feels his home is actually worth less than the purchase price of $250,000 because of the structural problems he has found. thcldon. 322S Ravside Road. W5-117-23 41,0012 - '995 esdmated value was $353^00 and she feels U is worth someplace between $304,000 ind $330,000 because th^ have looked at similar houses In the last two years there has been a $30,000 increase. They tave foui^ neighboring properties have not gone up as much as theirs The 1994 value was at $342,0W m 1993 value was $320,300. There have been no improvements m the 9 years they owned the property. 1273 knnih Rrown Road 410-117-23 31 0065 - 1994 limited market value was $90,000 but the tax capacity rate caused a 16.7% increase. He questioned why the tax capacity w« TOt stated on the valuation card Mayor Callahan stated that information w« not avatlable at the time the cards are sent out because budgets are determined at a later date. The 199^ vdue is , _ When he called the Assessor’s office, Dave told him it was because of the and 9^". not think a $9,000 increase was reasonable. He felt a reasonable value would be $92,500 We lot is OO’ X 140' with the home built in 1953. Erickson explained that because land costs more inOrono since there are few subdivisions, that is what caused the increase in value. There is a shortage ot smaller, less expensive homes The $9,400 increase did include consideration of the house. The land is valued at $26,900.