05-09-1994 Reconvened Board of Review Minutes

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MINUTES OF THE REC0N\T:NED BOARD OF RJ*ME\V MEETING HELD MAY 9. 1994 John C. Ericson. 1620 Shadvwood Road. 17-117-23 21 0012. Mated he received a letter fn>m ita Assessor recommending nt> change from the valuation of $261,000. He felt the land value went up too much at $21.000 and thougl * 3-4% was adequate. Erickstm suted the ira:rease was about the same as other similar properties adding that some were adjusted closer to the channel. Kelley asked how the Assessor arrived at an 11% average increase. Erickson replied that the buildings were calculated with the new rates. In order to bring the property class up to the 93% Hennepin County minimum, an iiKrease of 7% + would be required. Properties are then reviewed by bays, value increments, etc. It was determined that the higher priced houses probably were 10% low. Few of the higher priced homes sold si> the class was raised across-the-bo.'ird. For example, on Park Drive a home sold for $292,000 in September of 1992 and again in February of 1994 for $335,000. Ericson stated that he wanted to rebuild 6-7 years ago and was turned down by Council. He then did some remodeling for which he was assessed. He thought the off-lake properties should be assessed more rather that having 8-9% for lakeshore vs. 1.4% for non-lakeshore. Erickson responded that there were years in the early 1980’s where lakeshore properties were low. It was moved by Hurr, seconded by Kelley, to approve the recommendation of the Assessor at $261,000. Ayes 4. nays 0. Delores Penipi^re 3540 North Shore Drive. 08-117-23 43 0011. slated the increase fnm $81,000 to $95,000 in three years was xoo great. She noted the house was small and an unusual shape. There is a road that cros.ses between the house and the lake. Oldtimers knew that properties like this did ntH pay the same high taxes as those directly on the lake. Mayor Callahan noted the increase was due to the land as in other properties. Hurr added the building value actually decreased. Kelley thought a 50’ lot with a ro^ in front could be lowered to the 1994 valuation It was moved by Callahan, seconded by Gixjtten, to accept the recommendation of the Assessor at $95,000. Ayes 4, nays 0. David Verville. 4209 North Shore Drive. 07-117-23 43 0005, stated his valuation went up $10,(XX) which is a 7.5% increase and he thought that was Uvo much tor one year. He felt a 4% increase was enough for one year. Mayor Callahan stated that as long as the general increase falls within the range of the average, the Assessor’s recommendation should be equitable. Verville stated that houses across the street from his (non-lakeshore) did not sell for more than they did in 1986. He felt the lakeshore properties always received the laigest and first increases. Erickson indicated the 1984 valuation was $121,000 on this property but went down to $110,000 in 1985. Two years later the valuations were raised again but this followed the real estate market. He stated that one way to approach the property increases is to talk to state legislators. It was mc-ved by Mayor Callahan, seconded by Hurr, to accept the recommendation of the City Assessor at $144,000. Ayes 4, nays 0.