04-16-2008 Council Minutes Local Board of Appeal & Equalization

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• • • �@ -_I_ 2008 LOCAL BOARD OF �PPEAL AND EQUALIZATION . Wednesday, April 16, 2008 7:00 o'clock p.m. 20. Sheryl Morrison, 1525 County Road Morrison stated she did speak with someone at information to the Board regarding some water noted the entire exterior needs to be ripped off, the estimate to repair the house is $460,000. Davy noted there are a number of homes in problems. Morrison stated the experts believe the home ca reduced by approximately 20 percent or $120,01 to the amount of damage that needs to be repair house at the present time. Morrison noted their Morrison indicated they would be obtaining an reduced for the past two years. Murphy asked whether the Assessor's Office Davy stated they are aware of the situation. TI recognized, is to reduce the valuation by the cc people have gone for two or three years before the costs are incurred to repair the damage, all but that the next year it would go back to the fi PID #26- 118 -23 33 0033 e Assessor's Office. Morrison distributed image their house has experience recently. Morrison number of the interior walls require replacement, and County that have experienced water intrusion be repaired and will be livable. The value has been I but the value is still $550,000. Morrison stated due 1, it is unlikely that anyone would pay that for their alue last year was $925,000. and that they would like their taxes to be in receipt of this information. policy of Hennepin County, once the problem is to repair the damage. Davy stated a number of te situation is resolved. Davy indicated the year when 'those costs would be taken off the value for that year, market value. Morrison stated she is unsure whether the reduction in the market value takes into account the diminution of the property. Morrison indicated they do intend to repair the damage and would be obtaining an appraisal. 21. Kevin Dulin, 1785 Concordia Street, )�ID#17- 117 -23 22 0016 Dulin stated he is planning on demolishing his current residence this summer and rebuilding. The estimated market value of the property is $1.6 million and the limited market value is $1.43 million. Dulin stated he has resided in the property since 1993. Up until 2000, the values did not deviate, and then in 2000 the estimated market value has increased ranging from 20 percent to nine percent, but has consistently been at 15 percent. Dulin stated he would like to get the valuation correct of his property before to razing the current residence. Dulin stated the problem in the area is that there are four empty homes in the area. Two of the homes went to auction and are now for sale again. Dulm stated he would like to bring the two values back into line but that presently there is a ten percent difference. The Orono Board of Appeal directed the Hennepin County Assessor to visit Mr. Dulin's property and review his information. 1 PAGE 11 of 18