05-22-1995 Council Packet - Laserfiche WebLink

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MINUTES OF THE RECONVENED BOARD OF REVIEW MEETING HELD MAY II, 1995 explained that valuations were refigured based on average property increases in the area On this particular property, the land stayed the same but the house value increased 3.3% where the overall City average was 7% Erickson noted that properties throughout Orono are continuing to sell for more Shull noted that 90% of his shoreline is dedicated to the Orono Conservation District. Shull questioned the impact of the proposed Highway 12 route and felt sales were starting to stagnate because of it He also questioned if there were any comparable properties to his Enckson explained that they use sales within the entire City, not just a comparable property, and apply rates to all properties Erickson stated they assume buyers are knowledgeable and are aware of highway proposals when purchasing property. Kelley felt that Highway 394 actually increases property values in the western suburbs because accessibility to downtown is faster and easier. Jabbour added that development has continued along proposed routes even though the Highway 12 route has not been resolved. Jabbour questioned why his house value increased but not the land as it is a dated home and houses in Jabbour's area were actually tom down. Erickson stated that almost all properties would show some increase in value in Orono. Kelley commented that Legislators ^e the key to changing the system. He noted that the School District takes the largest amount of tax dollars and should probably be responsible for valuations rather than the City who receives the least ^ount of tax dollars. Members of the Board urged Shull to appeal to the County. Erickson noted that the County does an actual appraisal with comparables. He added that some 2 acre lots on Watertown Road are selling for $100,000 to $120,000 and Shull ’s property is 7 acres. Shull stated that these large property increases will change the Orono community. Ward Edwards 7474 Carman 20-117-23 12 0027 - He commented that he has written two letters regarding his situation. He built his home in 1990 and has been before the Board on two previous occasions and had the valuation reduced. Since he has had a $32,000 increase he is as ng for consideration again He explained that his neighbor's house has always been valued higher than his but this year his was considerably higher. A neighborhood realtor thought the valuation of $340 000 was high and that $325,000 would be more realistic. Jabbour noted that most of the increase was in the land as the house only went up $4,300 of the $32,000. Erickson responded tha one of his assessors did the valuation on the property and they were famUiar with the property ^ it has previously been before the Board. A house down the road (3585 Frederick Street) was us^ as a comparable that sold for $350,000. Kelley asked how Ward would compare his and his neighbor s (Richard Edwards) property. They have about the same amount of lakeshore and the lots we about the same size Ward’s land is valued at $212,000 whereas Richard’s is valued at $220,000. Richard s house was built in 1965 whereas Ward’s was built in 1990. WUde noted that front footage on lakeshore is not the only consideration in land value but also the characteristics of the felt the land value was reasonable. Erickson noted that this range of property is in ™ a comparable on Frederick street that sold for $350,000 that was built in 1966 with 1700 s.f and only 23’ of lakeshore. Members urged Edwards to contact the County. Erickson stated that there was an additional list of names from phone calls that had been contacted. They were told of their option to appeal to the County.