Laserfiche WebLink
1987 BOARD OF REVIEW - MAY 13, 1987 <br />Assessor Erickson explained that last year all lakeshore property was <br />increased based on sales in the area. He also noted that Mr. Weed's <br />property has approximately 175 feet of lakeshore and is a very nice <br />location. <br />Mayor Grabek moved, Councilmember Sime seconded, to uphold the <br />assessor's valuation of $375,800. <br />Ayes 5, Nays 0. <br />,Jack Birch, 825 Forest Arms Lane, PID number 07- 117 -23 12 0011, stated <br />his market value is at $194,600 this year. Last year it was $124,600 which <br />is a 56% increase. Also, last year the land value was $50,000 and this <br />year it is valued at $70,000 which is a 38% increase. He feels that the <br />property should be valued at $150,000 and one reason for this is the <br />lakeshore is impassable to boat traffic because the lake is so low. The <br />channel will need to be dredged to be usable again. <br />Assessor Erickson stated he reviewed the property when the lake was <br />frozen over and was unaware at that time of the lake level, however, the <br />valuation cannot be reduced because of a one year lake level and should <br />that level remain for a period of time or be deemed permanent, it may then <br />be reduced after review. Also, the valuation is based on sales in the area <br />during the 1985 -86 time period. <br />Erickson also noted that when a house is valued before it is <br />completed, the valuation is usually low because it is hard to judge the <br />amount of finishing work which will be completed. <br />Councilmember Callahan moved, Councilmember Peterson seconded, to <br />uphold the assessor's valuation of $194,600. <br />Ayes 5, Nays 0. <br />.Gregory Price of 890 Forest Arms Lane, is the owner of property at 835 <br />Forest Arms Lane, PID number 07- 117 -23 12 0012, explained his market value <br />this year is $145,200 and is still under construction. He also stated that <br />last year the lot alone was $45,000 and this year the value is $70,000 <br />which is a 50% increase. He would like to see the lot value reduced to <br />$55,000. Price noted that he paid $62,000 for the lot in January 1986 and <br />it is one acre. <br />Councilmember Callahan moved, Councilmember Sime seconded, to uphold <br />assessor's valuation of $145,200 for the property. <br />Ayes 5, Nays 0. <br />3 <br />