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• <br />• <br />MINUTES OF THE <br />2008 LOCAL BOARD OF ,PPEAL AND EQUALIZATION <br />Wednesday, April 16, 2008 <br />7:00 o'clock p.m. <br />Lee stated in her opinion her value has not increased and has likely remained flat or decreased. Lee <br />pointed out in November there were two houses'on Fagerness Point for sale on auction and neither one <br />sold. The current estimated market value on one of the house was over a million dollars and they did <br />not receive a combined bid of a million dollars on the two pieces of property. _ . <br />Lee requested the Assessor's Office review <br />McMillan asked whether they have been <br />J <br />Lee stated they have. Their limited market <br />the proposed 2008 is $751,100. <br />McMillan noted the window for comparable <br />November of 2006 to October of 2007. <br />Lee noted a number of properties in the F <br />not been. <br />Murphy stated it is difficult to understand that th <br />value of the land and house are only established <br />Lee stated the method of how that value is <br />utilizing Zillow was $675,000. <br />The Orono Board of Appeal directed the <br />review her information. <br />25. Sean Hendrickson, 1580 Long Lake B <br />Hendrickson stated his property value has ir. <br />Hendrickson asked whether that is accurate. <br />Davy stated that is due to the new house being <br />Hendrickson asked whether his valuation would <br />major increase is being reflected in this year's v <br />Davy indicated it would not increase to that <br />valuation. <br />by that limited market value cap. <br />in 2007 was $601,200. The limited market value for <br />that the Assessor's Office has to look at is <br />neighborhood have been improved but theirs has <br />values are for tax purposes only and that the true <br />,n the house is sold. <br />is the problem. Lee stated their valuation <br />County Assessor to visit Ms. Lee's property and <br />PID #26- 118 -23 33 0031 <br />79.2 percent and doubled their estimated value. <br />by that percentage next year or whether the <br />next year. <br />26. John Waldron, 1951 Concordia Street PID #18- 117 -23 14 0011 <br />Waldron stated he has owned this property for 21 years and that his house is now 55 years old, has a. <br />1920 detached garage, and is basically a tear do7 if someone were to purchase it. Waldron indicated <br />the majority of the value is in the land. In this case, the estimated market value went from $945,000 to <br />$1,020,000, an increase of approximately $27,000. Waldron stated he did speak with the assessor, <br />PAGk 13 of 18 <br />