Laserfiche WebLink
JOHN G. BENDT <br />lI20Tonkawa Rd. <br />Long Lake. MN 55356 <br />Aprll^??, h& 1990Mr. Paul Smith <br />City Assessor <br />City of Orono <br />Dear Paul: <br />Pursuant to our discussion regarding the 1990 market evaluation of my <br />home located at 1120 Tonkawa Road, I would like to offer additional <br />Information to further support my position that the assessed value of <br />$379,000 f''c my property is too high. <br />City records for market evaluations completed In 1989 for the 1990 tax <br />year show comparable Tonkawa Road properties to be as follows: <br />Address <br />Approximate <br />Land Value Shoreline Ft. Value^ShorelIne Ft. <br />John 6. Bendt $223,700 135 $1,657 <br />1080 Tonkawa $237,000 175 $1,354 <br />1030 Tonkawa $144,500 110 $1,314 <br />1185 Tonkawa $137,300 135 $1,017 <br />1085 Tonkawa $184,000 135 $1,363 <br />1105 Tonkawa $184,000 175 $1,051 <br />1075 Tonkawa $156,500 135 $1,159 <br />Average of Comparables $1,210 <br />My land value at the average value per shoreline foot ($1,210) would be <br />$163,350 ($1,210 X 135 feet) or $6C,350 less than the 1989 assessed <br />value of my land. Subtracting this difference frorw the 1989 total <br />assessed value of my home and land yields a total value as follows: <br />Total 1989 Assessed Value =» $356,300 <br />Minus Land Value Difference 60,350 <br />Revised Total Value $295,950 <br />The 1990 assessed value of my land and home per my latest statement <br />equals $379,000, up 6.4% from the 1989 assessed value of $356,300. <br />Applying this percentage Increase to the revised value stated above, <br />yields a 1990 total value of $314,890. <br />Paul, I believe the above analysis shows that my property's assessed <br />value has been significantly overstated, and should be adjusted to a <br />more equitable figure of $315,000. <br />Sincerely,