04-25-2001 Council Minutes Board of Review

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MINUTES OF THE ORONO BOARD OF REVIEW MEETING Wednesday, April 25, 2001 7:00 o'clock p.m. Jensen noted the limited market values only apply to residential properties and not to commercial or apartments. Jensen stated since Hennepin County took over the contract in Orono in the fall of 1998, their office has completed reviews on three quadrants of the city, with the remaining quadrant to be completed this summer. Jensen indicated the Assessor's Office received 200 calls this year, with 75 reviews being completed and adjustments being made to 55 of those reviews. Flint inquired whether the Assessor's Office contacted the people who wrote letters protesting their valuation. Jensen stated they have attempted to contact them whenever possible APPEALS 1. Ken Hoffman, 1254 Loma Linda Avenue, PID 07- 11723410076 and 0077. Hoffman stated his estimated market value on Lots 1 through 9 is $277,500 and on the single lot it is $9,000. Hoffman stated in his opinion the valuation should be $205,000 for Lots 1 through 9. Hoffman inquired why his valuation increased 600 percent in one year. Hoffman stated the $277,500 valuation is based on a property which sold approximately one mile from his residence in November of last year, which has 1.5 acres more than his, central air, two fireplaces, and approximately 600 more square feet. This property sold for $255,000. Hoffman commented in his view this is not a fair comparison due to those reasons. Hoffman indicated his valuation from 1997 to 1998 stayed approximately the same. In 1998 to 1999, it- • increased by five percent, and in 1999 to 2000, there was a 15 percent increase. In the year 2000 to 2001, his valuation increased 51 percent. Hoffman indicated on the single lot, in the year 2000 to 2001, his valuation increased by 600 percent. Mayor Peterson inquired whether the Assessor's Office did a review of this property. Jensen stated they did conduct a review of this property. Mayor Peterson inquired whether the Assessor's Office would be doing another review of the property. Jensen stated they could do another review if the property owner so requests. It was the consensus of the City Council that the Assessor's Office should revisit each home where the valuation is being contested. Jensen indicated when they revisit the property, they will discuss any issues the property owner feels need to be looked at. Flint inquired what some of the reasons may be for the adjustments. Jensen indicated land in this area is in demand. Jensen stated another reason for a number of the adjustments is the fact that the prior assessments were not within the 95 percent standard that is required by the State, which has necessitated some of the larger increases in valuation. PAGE 2