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M <br />To: <br />From: <br />Date: <br />Re: <br />Orono Mayor and Council <br />Bill Davy <br />March 30, 2000 <br />2000 Assessment Local Board of Review <br />The 2000 Orono Local Board of Review has been scheduled for Wednesday, April 26^. As <br />preparation for the upcoming Local Board of Review, please find the enclosed data to hdp <br />you. A chart listing the amount of assessment growth for Lake Minnetonka communities, <br />an assessment fact sheet, and a book of sales with photos and characteristics from a sample <br />of sales throughout the city. <br />Summary of the 2000 Assessment <br />Each year estimated market values are analyzed along with data from the market. <br />Adjustments, as appropriate for each type of property, are made. The results of those <br />adjustments for the 2000 assessment are as fellows: <br />• Residential + 12.8% <br />• Commercial + 8.1% <br />• Industrial + 2.1% <br />There are 4,074 parcels in the city with a total market value of approximately <br />$1,239,977,800. This value includes $21,094,300 in new construction improvements. The <br />overall value increase for the City of Orono is 13.7%. <br />Prior to the meeting if you should have any questions or concerns, please feel free to call <br />me at, 249-4641 .