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• <br />r 1 <br />LJ <br />• <br />ORONO BOARD OF APP: <br />Wednesday, <br />7:00 o'( <br />ROLL <br />The Orono Board of Review met on the above date A <br />Mayor Barbara Peterson, Council Members Jim Whit <br />represented City Staff: Hennepin County Appraisers <br />Recorder Jackie Young. <br />Council Member Bob Sansevere was absent. <br />Mayor Peterson called the Board of Appeal and Equa <br />APPEALS <br />Davy explained tonight's meeting is intended to give <br />property valuations and present any evidence they fei <br />incorrect for 2005. <br />Davy stated the valuations are arrived at by studying <br />through the City of Orono. Those assessments are to <br />which reviews the assessments to insure that certain <br />Hennepin County Assessors Office conducts a sales; <br />need to occur. Davy stated the values are based on <br />with the overall valuation of properties in the City ne <br />the valuation determined through the sales analysis. <br />estimated market value to the sale price of the propel <br />needed to be adjusted. <br />OF THE <br />L AND EQUALIZATION <br />ri120, 2005 <br />k p.m. <br />i the following members present: <br />Lili McMillan, and Jim Murphy. The following <br />'illiam Davy, Kevin Wynn, Tom Kunik; and <br />to order at 7:00 p.m. <br />Orono residents the opportunity to discuss their <br />would help show why their market valuation is <br />market and by doing market ratio studies of sales <br />i into the Hennepin County Review Board, <br />dards are being met. Davy stated each year the <br />ysis to determine what type of valuation changes <br />o from October 1, 2003 to September 30, 2004, <br />ig to be between 90 percent and 105 percent of <br />vy indicated following a comparison of the <br />, if they find that the market values are low, they <br />Davy noted 135 sales out of 2,915 residential properties occurred in Orono within the last year, with 47 of <br />those sales being located along the lake. Davy state&each year the Hennepin County Assessors Office <br />looks at one -fourth of the City to insure that the median used by the Assessors Office is at the 95 or 96 <br />percent median of the market value. <br />Davy stated if, after reviewing the valuation, the prol <br />have the right to appeal their valuation at the County <br />a property owner to the local Board, the assessor woi <br />property. The property owner may request that the a <br />how that valuation is obtained. After reviewing the I <br />local Board for their approval, and the property own( <br />he is still dissatisfied with the valuation assigned to t <br />appeal the local Board's decision by appearing befor <br />Minnesota Tax Court. <br />xty owner is not satisfied with the valuation, they <br />3oard of Review. Davy stated following appeal by <br />d review the information on file regarding the <br />;essor visit the property and provide information on <br />operty, the assessor brings his findings back to the <br />may appear at the reconvened Board of Review if <br />property. The property owner may also choose to <br />the County Board of Equalization, followed by the <br />Mayor Peterson stated the purpose of tonight's meeting is to listen to the comments of the residents <br />regarding their valuation. The Local Board or property owner may request that the assessor visit the <br />property and review their valuation, followed by a reconvened Board of Review meeting. Mayor <br />Peterson noted the reconvened Board of Appeal and Equalization has been scheduled for May 9, 2005. <br />PAGE 1 <br />