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1987 BOARD OF REVIEW - MAY 13, 1987
<br />Todd Haugan and Teresa Ritten of 722 Tonkawa Road, PID number 05-117-
<br />23 34 0001, objected tc their nroperty value of $147,500. They noted they
<br />clos-d on their home in March 1987 and had bought the home for $120,000
<br />which included about $3,000 of personal prop(--rty and therefore, feels the
<br />home should be valued at 5117,000. Whey bought the home fro:a a relocation
<br />service which had the house listed with several real estate agents for over
<br />a year at a much higher price, and no one had bought it.
<br />Assistant Assessor Guderian noted that relocation services are noted
<br />for buying houses for a higher price and then selling at a much lower
<br />price. The properties in the area are valued in similar ranges as this
<br />property. This property, in pre ious years, had been valued at: 3986-87
<br />at $134,400, and 1987 at 142,400. Assessor recommended reduction from
<br />$142,400 to $136,900.
<br />Mayor Grabek Roved to changE- the property value to previous years
<br />value of $136,900 lass the $3,000 personal property included ii the sale
<br />making tht, ma.rkP+ vF.lue $133, 900.
<br />Motion wi . _ Lwn.
<br />Mayor Grabek moved, Councilmember Goetten seconded, to uphold the
<br />assessor's valuation, of $136,900.
<br />Ayes 4, Nays 1. Councilmember Sime objected stating the property had
<br />exposure to t:hP selling market and sold at $120,000 a iO what is what it
<br />should be val!.-ed at. Also, the lot is quite stee, -wr, the lakeshore,
<br />making it leas desrable.
<br />John Quam of 3760 Northern Avenue, PID number 17-117-23 34 0051,
<br />stated the market value for his house this, year is $86,600 and it should be
<br />reduced to $70,000 because it is a new house and was built for much less.
<br />He noted the house was built for $66,700 ($16,000 of which was for the
<br />land). Mr. Quam also felt the railroa(i tracks across the street, the
<br />County shop near the home, and the value of the older cottage homes in the
<br />area should reduce his value.
<br />Assessor Erickson noted he did review the Property and classified the
<br />construction 1 step above average, also the ay. rage value of a buildable
<br />lot is $20,000, and, therefore, felt the $19,000 value for Mr. Quam's land
<br />is reasonable. Erickson also explained that there l.r a varied price range
<br />within the building industry for construction prices.
<br />Councilmember Callahan move., Councilmember Sime seconded, to reduce
<br />the market value to $80,000.
<br />Ayes 5, Nays 0.
<br />Newell weed, 1385 Orono Lane, PID number 02-117-23 34 0003, explained
<br />his assessed value for this year is $375,800 which reflects a 271 increase
<br />in the last two (2) years and would li' *o gee it reduced to $355,000
<br />which would be a 20% increase. Mr. weed iced thet the ',ruse is 60 years
<br />old and is in need a continuous maintenan,-e. tie also stated the values of
<br />past years: 1985 $120,800; 1986 $37-1,300, 1487 $375,800.
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