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• MINUTES OF THE ORONO BOARD OF REVIEW <br />HELD APRIL 26, 2000 <br />Mayor Jabbour requested the Assessor review the independent appraisal and review the <br />site. <br />Moorse noted the Board of Review will reconvene on May 8th. <br />3. James Bull, Jr., 1330 Cherry Place. Bull expressed concerns that his land is being valued <br />too high. Bull stated his market value for 1999 was $293,000, with this year's value being <br />listed at $363,000. Bull indicated this is a 23.9 percent increase, which is excessive in his <br />view. Bull requested the Assessor visit his property. <br />Mayor Jabbour commented the assessor's office typically will shift the value from the home <br />to the land as the residence gets older and there is a good likelihood the home will be torn <br />down. Jabbour stated the value of the home decreased while the value of the land increased. <br />Davy stated land values in this area are increasing. <br />Kelley inquired whether the assessor's office makes the assumption that some homes will <br />be torn down. <br />Davy stated that a potential a buyer may be looking for a building site on the lake and <br />• is considering a tear -down, especially if the residence is older. <br />Kelley stated in his opinion the system of arriving at property taxes should be reviewed and <br />changed, noting that some long -time residents are being forced out of their homes due to the <br />high taxes. <br />Mayor Jabbour requested the Assessor visit the property prior to the next Board of Review <br />meeting. <br />4. Thomas Ryan, 2350 Longview Circle. Ryan inquired whether the breakdown between the <br />land and building values are different. <br />Davy stated the value of the land depends on the size of the lot, the location in the City, and <br />other factors. <br />Ryan inquired whether the assessor looks at each development separately. <br />Davy stated they look at each particular development and what the lots are selling for in <br />reaching their land values. <br />Ryan stated he purchased their home in 1978, has made no improvements over the years, <br />• with their valuation for this year being listed at $483,000. Ryan indicated his roof, shingles, <br />Page 3 <br />