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2) An indnp«n<tont appraisal conducted in 2000 suggested that the market <br />value of 2240 Fox (house 8 acres) was $350,000. An appraisal conducted in <br />2001 to secure a partial release of mortgage suggested **no negative impact" on <br />value due to the division of property. This appraisal did not suggest an increase <br />in value due to subdivision. Assuming a 6% increase for two years, an estimate <br />of the 2002 valuation would be: <br />350.000 Year 2000 <br />21.000 6% increase <br />371.000 Year 2001 <br />22.260 6% increase <br />393.260 Year 2002 <br />3) Analysis of comparable properties <br />These properties are deemed to be comparable with exceptions noted. All <br />valuations are per Hennepin County for taxes payable In 2002 <br />Property <br />2185 Webber Hills Rd <br />2355 Abingdon Way <br />Lot Size <br />1.325 acres <br />Market Value <br />2.01 acres <br />80 Wear Lane 5 acres <br />50 Wear Lane <br />20 Wear Lane <br />680 Willow Drive S. <br />2.02 acres <br />2.031 acres <br />3.285 acres <br />2180 Fox Street 9.70 acres <br />300.000 <br />17.000 Land <br />163.000 House <br />236.600 Limited <br />397,000 <br />150.500 Land <br />246.500 House <br />372.400 Limited <br />374.000 <br />197.000 Land <br />177.000 Building <br />266,200 Limited <br />Notes <br />Brick house <br />Smaller lot <br />Much larger <br />house <br />Comparable <br />house on much <br />larger lot <br />• • •338,1 <br />172.500 Land <br />165.500 House <br />267.900 Limited <br />Nfo.r house <br />359.000 <br />165.000 Land <br />194.000 House <br />292,500 Limited <br />353.000 <br />200.000 Land <br />153.000 House <br />263.000 LimHad <br />376.000 <br />350.000 Land <br />26,000 House <br />199^ Limited <br />Same house <br />exactly. Same <br />model <br />Very similar <br />house and lot <br />size <br />Moreland, <br />older house. <br />Next Door <br />i I