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MINUTES OF ' J aOARD OF REVIEW MEETINQ <br />HELD APRIL 29. 1993 <br />Erickson notsd in thss# casss tha sei I ing price was not used as t ie <br />market value. <br />Stockton asked why It is then used to figure market value for his <br />property. He said when one Is on a fixed income, you should not <br />have to worry about increases as such. He felt a $3,000 Increase <br />would be appropriate. <br />Rome Reinbrenner. Dana Halmrast. 3287 Casco Cl rc l t>_ ft2Q-t 17.-.23 <br />43 0044. 1993 value $99,400. 1992 value $86,300. which is a 15.2» <br />increase. He noted the property has not been improved except for <br />the roof. He stated ma^iy peopie do not come to this meeting as they <br />feel their valuation may end up higher. <br />Callahan stated that is unfounded and many times appellants are <br />given relief. <br />Hurr questioned the amount of shoreline. <br />Reinbrenner said they do not have any shoreline, and added about <br />four years ago he contacted the Assessor because of an excessive <br />increase in the value and was told "for crying out loud, look <br />around you". Ht felt the value should be $89,000. <br />Jabbour apo^ugized for the comment made by the former Assessor. <br />Jeff Marshall. 4784 North Shore Drive. e07-117»23 32 0012. 1993 <br />value $94,000. He said he should have appeared before them last <br />year when the value exceeded $90,000. He noted a recent appraisal <br />values the property at $88,000, and he felt that a buyer would not <br />pay much more for thr property. <br />Hurr noted the cost approach value on this appraisal is $94,300. <br />Erickson explained the cost approach tends to set the upper limit <br />of the property. <br />Vartkes Ehramliam. 1050 Edaewood Hills Road. #02-117-23 13 0003. <br />1993 value $471,500 which is a 3.5« increase. He questioned the <br />increase as his property was not reviewed by the Assessor. He noted <br />he has experienced a lOX increase in the last two years. He <br />understood that houses in this price range are not selling as <br />quickly as others. He felt the property is worth $420,000 to <br />$425,000. <br />Hurr questioned the size of the lot. <br />Ehramjiam said it is a one acre lot on a private street. <br />1;-