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

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r • MINUTES OF THE ORONO 2011 LOCAL BOARD OF APPEAL AND EQUALIZATION Wednesday, April 20, 2011 7:00 o'clock p.m. Birkeland noted he also owns a property in Independence that has been reduced from $600,000 down to $260,000. Birkeland stated he would like to sell the property but it is going to be difficult due to the valuation. Stulc stated he would be in contact with Mr. Birkeland. 6. MATTHEW BURNS, 1180 LOMA LINDA, #08- 117 -23 -23 -0002 Matthew Burns stated his 2011 valuation was $825,000, and that in his view the closer valuation is $700,000, which is based on an independent appraisal that was completed in October of 2010. Burns indicated he paid $600 for the appraisal as part of a refinancing. There was also an appraisal done in June of 2009 by Bank of America which valued the property at $627,000. At the end of 2007, the property was evaluated for an estate matter. That valuation was within one percent of what the market valuation was at that time. Since that time the market has fallen but his property valuation has continued to go up. Burns indicated he did not provide this information to the assessor because the last time he spoke with the assessor's office he was told that his valuation is that high because it is located on the lake. • McMillan requested Mr. Burns provide the appraisal information to the assessor. Burns requested it be reduced to $700,000. 8. BILL WYATT, 4235 SIXTH AVENUE NORTH, #31- 118 -23 -12 -0013 Bill Wyatt stated he appeared tonight so he would be able to appear at the county board level. 9. DAVE LINDBERG, 2440 NORTH SHORE DRIVE, #08- 117 -23- 430019 Dave Lindberg stated his 2011 valuation is $1,013,000. Lindberg indicated he has had the house for sale for $899,000 and it has not sold. Another realtor suggested listing it at $850,000 and stated it would probably sell for $810,000. Based on the comparables, the valuation should be lowered. Lindberg commented that he found it funny that farther down the street to the west the lots are smaller, down to a quarter acre, but the price per acre works out to be quite a bit higher. The property next to his property drops $200,000 an acre. Lindberg commented that he also finds it funny that the houses behind him, which are not located on CR51, are $200,000 less per acre and also have had their valuations drop anywhere from 13 to 17 percent but yet his property dropped only 7 percent. Lindberg indicated his valuation went from $1,015,000 down to $1,013,000. His neighbor dropped $34,000. Lindberg commented it does not make sense. • McMillan asked if he has spoken to the assessor. Page 7