04-25-2001 Council Minutes Board of Review

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ft- MINUTES OF THE ORONO BOARD OF REVIEW MEETING Wednesday, April 25, 2001 • 7:00 o'clock p.m. ROLL The Orono Board of Review met on the above date with the following members present: Mayor Barbara Peterson, Council Members Richard Flint, Bob Sansevere, Jay Nygard, and Jim White. The following represented City Staff: City Administrator Ron Moorse, Hennepin County Appraiser Kim Jensen, Hennepin County Senior Appraiser Keith Rennerfeldt, Hennepin County Appraiser Kevin Wynn, and Recorder Jackie Young. Mayor Peterson called the meeting to order at 7:03 p.m. Rennerfeldt stated the values are arrived at by studying the market and doing market ratio studies of sales throughout Orono. Those assessments are turned into the Hennepin County Review Board which reviews the assessments to insure that certain standards are being met. Rennerfeldt stated the values are based on the sales from October 1, 1999 to September 30, 2000, with the assessments needing to be within 95 percent of the sale price of the home. Rennerfeldt stated if a property owner is dissatisfied with their valuation, they have the right to appeal to the Board of Review at the City level. By appealing to the Board, the assessor will review the information on file regarding the property. The property owner may request that the assessor visit the property and provide information on how that valuation is obtained. After reviewing the property, the assessor brings his findings back to the City Council for their approval, and the property owner may • appear at the reconvened Board of Review if he is still dissatisfied with the valuation assigned to the property. The property owner may also choose to appeal the City Council's decision by appearing before the County Board of Equalization and then finally the Minnesota Tax Court. Rennerfeldt requested that the Council close the meeting to any requests that the Assessor's Office may receive after tonight's meeting. Mayor Peterson stated the purpose of tonight's meeting is to listen to the comments of the residents regarding their valuation. The City Council or property owner may request that the assessor visit the property and review their valuation, followed by another Board of Review meeting. Dan Bergeron, 1980 Sixth Avenue North, inquired whether the value they use is the estimated or limited value. Rennerfeldt stated the Assessor's Office will be looking at the estimated value tonight. The limited market value went into effect a few years back and limits the taxable value of the property to an eight and a half percent increase over last year's limited market value or 15 percent of the difference between last year's limited value and market value. John Eiden, 330 Big Island, noted his valuation has increased from $800 to almost $3,000 in four years. Eiden inquired whether the assessor takes into consideration the fact that Big Island properties have no curb and gutters, no paved streets, no police or fire protection, and higher insurance costs. Rennerfeldt stated the guiding factor in assessing properties is the selling price, what people are willing to pay for the property. Rennerfeldt stated the guideline set by the State is the market value of the property. Rennerfeldt stated the property owner should call the Assessor's Office if they feel there is something unique about the property that has been overlooked. PAGE 1