04-18-2012 Council Minutes Board of Appeal & Equalization

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1„J 3 MINUTES OF THE ORONO 2012 LOCAL BOARD OF APPEAL AND EQUALIZATION Wednesday, April 18, 2012 7:00 o'clock p.m. • Bockmann stated construction on the house was started in 1999. The property has been in the family since 1951. The house was constructed new and finished in 2000. Smerdon noted the last time they inspected the house was in 2000. Bremer asked if the valuation has decreased down to $746,000. Bockmann indicated it has. Bockmann commented he understands that lake front property has decreased but that there has been an uptick on properties not on the lake. Kunik stated every property type decreased in the City. Different neighborhoods experienced different decreases depending on the sales. Kunik indicated those numbers that he cited earlier were averages across the board for all of those property types. Kunik asked if they are located on the lake. Bockmann stated they have 95 feet of lakeshore. Kunik stated each bay is looked at in comparison to the other bays and what comparable properties sell for as well as the amount of frontage on the lake. Kunik noted there is some fluctuation in each of the neighborhoods from year to year and that the amount of decrease will depend on the age of the structure, the size of the lot, as well as other factors. • Bockmann indicated his property is .49 acre and is located next to a public landing with a gentle slope down to the lake. Kunik asked what Mr. Bockmann's issue is with the value. Bockmann stated it is the dramatic drop in valuation in relation to the amount of taxes he has to pay. Kunik asked if he feels the valuation dropped too much. Bockmann stated the taxes should be in line with the value. McMillan noted the assessor determines the house valuation and does not determine the taxes. McMillan asked if Mr. Bockmann feels the market value is correct on his property. Bockmann noted there have been two foreclosures on Loma Linda Avenue in the past year. Kunik indicated that will have an impact. Bremer commented it sounds like they probably did since his valuation dropped $208,000. Rahn stated another issue„is the assessor has n6t- inspected the house in 12 years. Kunik stated the biggest issue they have is whether they have inspected the property recently. The assessor's office goes around every five years and inspects properties in a certain area. Kunik indicated • they can look at the information the assessor's office has on the property and verify that it is correct. Kunik stated in the cases where they are unable to inspect the interior of the house, they have to assume the information they have on file is correct. Page 3