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1987 BOARD OF REVIEW - MAY 13, 1987
<br />Todd Haugan and Teresa Ritten of 722 Tonkawa Road, PID number 05 -117-
<br />23 34 0001, objected to their property value of $147,500. They noted they
<br />closed on their home in March 1987 and had bought the home for $120,000
<br />which included about $3,000 of personal property and therefore, feels the
<br />home should be valued at $117,000. They bought the home from a relocation
<br />service which had the house listed with several real estate agents for over
<br />a year at a much higher price, and no one had bought it.
<br />•As-sistant Assessor Guderian noted that relocation services are noted
<br />for buying houses for a higher price and then selling at a much lower
<br />price; The properties in the area are valued in similar ranges as this
<br />property. This property, in previous years, had been valued at: 1986 -87
<br />at $134,400, and 1987 at.142,400. Assessor recommended reduction from
<br />$142,400 to $136,900.
<br />. Mayor Grabek moved to change the property value to previous years
<br />value of $136,900 less the $3,000 personal property included in the sale
<br />making the market value $133,900.
<br />Motion withdrawn.
<br />Mayor Grabek moved, Councilmember Goetten seconded, to uphold the
<br />assessor's valuation of $136,900.
<br />Ayes 4, Nays 1. Councilmember Sime objected stating the property had
<br />exposure to the selling market and sold at $120,000 and that is what it
<br />should be valued at. Also, the lot is quite steep down to the lakeshore,
<br />making it less desirable.
<br />John Quam of 3760 Northern Avenue, PID number 17- 117 -23 34 0051,
<br />stated the market value for his house this year is $86,600 and it should be
<br />reduced to $70,000 because it is anew house and was built for much less.
<br />He noted the house was built for $66,700 ($16,000 of which was for the
<br />land). Mr. Quam also felt the railroad tracks across the street, the
<br />County shop near the home, and the value of the older cottage homes in the
<br />area should reduce his value.
<br />Assessor Erickson noted he did review the property and classified the
<br />construction 1 step above average, also the average value of a buildable
<br />lot is $20,000, and, therefore, felt the $19,000 value for Mr. Quam's land
<br />is reasonable. Erickson also explained that there is a varied price range
<br />within the building industry for construction prices.
<br />.Councilmember Callahan moved, Councilmember Sime seconded, to reduce
<br />the market value to $80,000.
<br />Ayes 5, Nays 0.
<br />Newell Weed, 1385 Orono Lane, PID number 02- 117 -23 34 0003, explained
<br />his assessed value for this year is $375,800 which reflects a 27% increase
<br />in the last two (2) years and would like to see it reduced to $355,000
<br />which would be a 20% increase. Mr. Weed noted that the house is 60 years
<br />old and is in need a continuous maintenance. He also stated the values of
<br />past years: 1985 $320,800; 1986 $375,800, 1987 $375,800.
<br />K
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