04-20-2011 Council Minutes Local Board of Appeal & Equalization

Home Browse Search

MINUTES OF THE ORONO 2011 LOCAL BOARD OF APPEAL AND EQUALIZATION Wednesday, April 20, 2011 7:00 o'clock p.m. Anderson stated his letter does reference the state statute he has been referring to. Bremer requested the assessor speak with Mr. Anderson. 2. ROBERT MACK, 1650 NORTH FARM ROAD, #27- 118 -23 -44 -0009 Robert Mack indicated his first valuation was at $849,000 and that he then received a letter from Mike Smerdon that they were going to reduce it to $785,000. Mack stated in his view his valuation should be approximately $600,000. The reason for that valuation is that his next door neighbor sold his house last September. It was on the market for approximately a year and a half and it was an actual outright sale and not a foreclosure. The property owner had to reduce the price until the house sold. Mack indicated he has compiled a comparison of his house to his next door neighbor's house. Mack distributed that information to the Board. Mack indicated that in 2007, he experienced moisture and mold damage to his house. Some of the stucco and windows needed to be replaced at a cost of over $50,000. That repair will need to be declared when he sells the house, which will be a big negative. The repair work was only performed on a portion of the house. Mack commented the average buyer will question what else is wrong with the house since only part of the house was repaired. • Mack noted the property next door sold for $787,500. His property has no lakeshore but the neighbor has is 180 feet of lakeshore. He also only has two acres versus three for the other property. His finished square footage is 3,600 and the neighbor's is 4,979. His house has an asphalt single roof and no swimming pool versus cedar shake and a swimming pool. Mack stated he also has less privacy. Stulc noted Mike Smerdon did personally visit the property and agreed to make a reduction from the $849,000 down to $785,000. Bremer asked what his valuation was the previous year before the $849,000. Stulc indicated it was $852,000. Bremer asked whether the property on North Farm Road was brought up to the assessor. Smerdon indicated it was. Smerdon stated he is not sure about the square footage listed by Mr. Mack but that the other property has a higher land value with a less attractive house. Mr. Mack has a lower land value but a nicer house. McMillan asked whether the assessor would like to take another look at Mr. Mack's property. Smerdon indicated they could do that. Smerdon noted the interior of Mr. Mack's house is nicer than the neighboring property. McMillan asked whether moisture and mold damage is taken into effect. • Smerdon stated he did consider it but noted the problem has been resolved. Page 4