05-26-1987 Council Packet - Laserfiche WebLink

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1987 BOARD OF REVIEW - MAY 13, 1987 Assessor Erickson explained that last year all lakeshore property was increased based on sales in the area. Fie also noted that Mr. Weed's property has approximately 175 feet of lakeshore and is a very nice location. Mayor Grabek moved, Councilmember Sime seconded, to uphold the assessor's valuation of $375,800. .Ayes 5, Nays 0. Jack Birch, 825 Forest Arms PID number 07-117-23 12 0011, stated his market value is at $194,600 year. Last year it was $124,600 which is a 56% increase. Also, last y-ar the land value was $50,000 and this year it is valued at $70,OOC which is a 38% increase. He feels that the property should be valued at $150,000 and one reason for this is the lakeshore is iml assable to boat traffic because thf lake is so low. The channel will need to be dredged to be usable again, Assessor Erickson stated he reviewed the p operty when the lake was frozen over arJ vas unaware at that time of the lake level, however, the valuation cannot be reduced because of a one year lake level and should that 'level remain for a period of time or be deemed permanent, it may then be reduced after review. Also, the valuation is based on sales in the area during the 1985-86 time period. Erickson also noted that when a house is valued before it is completed, the valuation is -sually low because it is hard to judge the amount of finishing work which will. be completed. Councilmember Callahan moved, Councilmember Peterson seconded, to uphold the assessor's valuation of $194,600. Ayes 5, Nays 0. Gregory Price of 890 Forest Arms Lane, is the owner of property at 835 Forest Arms Lane, PID number 07-117-23 12 0012, explained his market value this year is $145,200 and is still under construction. He also stated that last year the lot alone was $45,OOC and this year the value is $70,000 which is a 50% increase. He would like to see the lot value reduced to $551000. Price noted thal- he paid ;162,000 for the lot in January 19e6 and it is one acre. Councilmember Callahan moved, Councilmember Sime seconded, to uphold assessor's va 1 uat 4 on of $145, 200 for the property. Ayes 5, Nays 0.