05/16/1983 BOE - 00012585... _ AL1�4_.. • 4:1_ ���• � • '�71/. �t� 4.�h! _,. • ' � ' �
The continued meeting of the Board of Review was called to order at 7:10
p. m, by Mayor Nee.
ROLL CALL:
MEMBERS PRESEEt�PFi': Mayor Nee, Councilman Barnette, Councilman
Schneider, Councilman Hamernik and Councilman
Fitzpatrick
ME[�ERS ABSENT: None
� The Board of Review took action regarding the following properties:
233 Ely Street: P1r. Madsen, City Assessor, stated this property was again
reviewed and it is probably the largest and hest home in the neighborhood,
it is overdeveloped for the area, therefore, it is recomnenaed tne
estimated market value be reduced from $80,700 to $78,600.
P10TION by Councilman Fitzpatrick to reduce the estimated market value for
the property at 233 Ely Street from $80,700 to $78,600. Seconded by
Councilman Schneider. Upon a voice vote, all voting aye, P�layor Pdee
declared the motion carried unanimously.
6428 Dellwood Drive: Mr. Madsen, City Assessor, stated he spoke with the
owner of this property, Hlr. Anderson, and he was comfortable with the
value placed on the property.
1450 Rice Creek Road: Mr. P7adsen, City Assessor, stated the staif's
reconenendation would be not to reduce the value �laced on this property.
He stated the property was reviewed and comparisons nade with similar
hmnes. Mr. Madsen stated Mr. Singer felt the value of the property should
be what he p�id for it in 1982 which was $57,200 and the value place on
the property was $65,100.
� Mr. Niadsen pointed out there were some unique circumstances when N'ir.
Singer bought the property, as he paid cash to the mortgage, and it was
felt he received an exceptionally good deal.
Mr. Singer stated he felt one of tY�e most legitimate ways to make an
appraisal is by the latest sale price of the home.
Mr. Singer pointed out another way is for the appraiser to inspect the
house and make a 7udgment on how much it is valued based on comparable
properties in that area. He stated if t1�ey are not able to get inside the
house, they may �ust boost up the value appropriate with real estate
increases in that year.
Mr. Singer stated the house was valued at $29,000 in 1974 and now only
nine years later it is worth over $65,000 and he is not sure property
values have gone up that much.
Mr. Singer stated placing the value at $65,100 is over 100% of the price
he p3id for the property in 1982, thereiore, he rec�uested a 21 to 22%
reduction.
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BOARD OF EZ�IEW MF ,F`PT� MAY 16. 1983 PAGE 2
Councilman Schneider asked what price he could sell the home for today.
Mr. Sinyer stated he doesn't intend to sell the home, and felt the value
should be at $57,200.
Mayor Nee stated he would feel more comfortable if the County would review
this case as they do have experts in the field.
6654 East ltiver Road: Mr. Madsen, Ca.ty Assesspr, stated they reviewed and
inspected this property and depreciation had been deducted for the
location on East River Road but not for the location of the bathroom
facilities in the basement. Mr. Madsen stated he felt, in the qeneral �
market, there may be some resistance to the location of these facilities
and in com�rison with other similar homes, it would be appropriate to
reduce the value $1,700.
MOTION by Councilman Fitzpatrick to concur with the Assessor's Office to
reduce the esti�ated market value for the property at 6654 East River Road
by $1,700 fram $36,700 to $35,000. Seconded by Councilman Barnette. Upon
a voice vote, all voting aye, Mayor Nee declared the motion carried
unammously,
123 63rd Wa� Mr. Madsen, City Assessor, stated they have reviewed other
properties located on this street and although a ntmiber of properties are
valued higher, most of them are laaer. Mr. Madsen stated the difference
in the value is because of the aqe of the property, as this home is about
16 years newer.
Mr. Madsen stated the depreciation applied to this home, compared with the
older homes, cloes make difference in the value.
Mr, Kroll, 123 63rd Way, distributed copies of information regarding a
comparison of other properties in the area. Mr. Kroll stated he felt the
value of his property was out of line with the homes in the immediate
neighborhood and it was out of line with the increases he paid over the
last several years.
d�7r. Kroll pointed out the homes on both sides of his property have two �
finished floors, more square footage, and 2 1/2 car garages, however, the
value of these two properties is less than his home. He also made a
comparison with the home across the street which recently has some
improvements made and also has a 2 1/2 car garage and fireplace,
Mr. Izroll stated the three homes in the area which have a higher value
have more square feet than his home.
r7r. Ecroll stated if the homes located a block away affect the value of his
property, he felt then that the location of East River Road to his
property should also affect the value.
P4r. Kroll stated he has had a 24� increase in the value over the last
three years and idn't want another 5% increase this year, a� he didn't
belzeve the valug has gone up 290 over the last four years.
Mr. Madsen stated he didn't see any descregancies and even though size and
age are both important factors, the differences in age of this home would
make a difference in the valuation.
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nOARD OF F.VTEUJ F.ETI MAY 76. 1_983 PAGE 3
Councilman Fitzpatrick stated he felt this case should probably be
reviewed by the County. He stated, in driving by this property, he was
surprised it was one of the most highly valued in the neighborhood.
Councilman Barnette stated he felt Mr. Kroll made a good case and would
encourage him to take his appeal to the County.
Mayor Nee stated, all things taken into consideration, the value is
probably pretty close to what it is worth.
5626 6th Street: Mr, Madsen, City Assessor, stated this property �vas
� reviewed and inspected again and the home is under remodeling and there
are still a n�nnber of ite�ns not completed, He felt the value should be
reduced 6y $2,000 to cover those items that are not yet completed.
MCYPION by Councilman Hamernik to concur with the recommendation of the
Assessor's Office to reduce the value of the property at 5626 6th Street
by $2,000. Seconded by Councilman Schneider. Upon a voice vote, all
voting aye, Mayor Nee declared the motion carried unammously.
6444 Baker Street: Mr, Madsen, City Assessor, stated the owners of this
property did speak with the Assessor's Office the evening of the May 2,
1983 meeting, however, were unable to stay for the meeting t� speak befoee
the Review Board.
�9r. Madsen stated in reviewing this property and conparing it with the
others in the neigh6orhood, it is a newer home, but, in this case, it is a
factory built hcme and doesn't have the finished items you would find in a
custam built home. He stated, therefore, a recommendation would be made
to reduce the value of this home by $2,300 form $79,200 to $76■900.
MOTION by Councilman Schneider to concur with the reconunendation of the
Assessor's Office to reduce the value of the property at 6444 Baker Street
by $2,300 from $79,200 to $76,900. Seconded by Councilman Barnette. Upon
a voice vote, all voting aye, Mayor Nee declared the motion carried
unanimously,
� t70TI0N by Councilman Hamernik to certify the property roll to the County
Assessor, Seconded by Councilman Fitzpatrick. Upon a voice vote, all
voting aye, Mayor Nee declared the motion carried unanimously.
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MOTION by Councilman Barnette to ad�ourn the meeting of the Board of
Review. Seconded by Councilman Schneider. Upon � voice voie, all voting
aye, Mayor Nee declared the motion carried unanimously and the meeting of
the Board of Review ad�ourned at 7:50 p. m.
Respectfully subnu.tted,
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Carole Haddad William J.� ee
Recording Secretary Mayor
Approved: �une 6, 1983
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