06-10-1982 Council Meeting Minutes - Board of Review

Home Browse Search

� t. ORONO BOARD OF REVIEW 1982 The 1982 Board of Review was called to order by acting Mayor Mary Butler, at 7: 35 p.m. , J_� 10 1982. Council members present were Jo Ellen Hurr, Tom Frahm an Tim Adams, also present were Don Monk, County Assessor and Milt Hilk, County Appraiser. Acting Mayor Butler stated the purpose of the Board of Review. She asked those persons appearing before the Board to state name, property identification number and/or street address. The Board will reconvene Tuesday, June 29th, at 7 : 30 p.m. , the place to be selected at a later date. Acting Mayor Butler announced that before the meeting star�s Mr. Sime would like to �nake a few comments. Mr. Sime stated he wished the audience would give Mr. Monk and Mr. Fiilk the benefit of the doubt. It is the state legislature that has put us in this situation, not Hennepin County. For a long time Orono has been below value of other areas. According to a M.A.I. file the sales ratio studies indicate that for the years 1979 and 1980 Orono was 1$ higher than the aggregate assessment ratio for Hennepin County. Secondly my prime argument and I think it applies to everyone is this room, first of all in order to understand what my argument is going ta be, there is a distinction between price and value. That distinction is very important in understanding my argument as to why our valuations are out of line. The price a property sells for does not necessarily equal its value. The reason for that is because below market financing rates must be discounted to arrive at a cash value. According to the legal defination of market value we are intitled to have our property valued at its cash value. An examp�e has been given to each of the Board members and the Assessors of the assessment figures of my home from the valuation figures. I respectfully ask the Board that you would ask the Assessor to please revalue all of our homes using the cash equivalency appraisal method to determine the true market value as it is legally defined, instead of using just sales price information, which he is currently using. Don Monk introduced himself to the audience and stated that in the course of the 10 days of ineetings there were about 160 requests for review, there are about 80 of these appraisals left to do. Our appraisers are swamped with work, they have gotten about half of it done by tonights meeting. Before the 20 days transpire that this Board has to act, all of those review appraisals will be done. You will be notified by phone or in writing or both and given opportunity to get an appeal, if you disagree with the results of the