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05/21/1984 BOR - 5207n� MAY 21, 1984 BOARD OF REVIEW 1:30 P.M. � �� I i,� ��J L� U L_J , ' LJ � ' �, �� ' � 1 ' ' ' ' ' HONORABLE MAYOR NEE AND FRIDLEY CITY COUNCIL The meeting of the 1984 Board of Review must be called as a separate meetinq from any other scheduled business. In the past, there has been need to call a continued meeting to hear cases that cannot be resolved at the first sitting. In order to give our office adequate time to prepare, we would appreciate at least two weeks time until the next meeting. That would be June 4. State Statute requires that the Board finish its business within 20 days of the first meeting. That would be June 18. The notice of valuation, sent to taxpayers this year, encouraged them to contact our office before appearing at this meeting. Of those that do, our office should be prepared so that these cases can most likely be settled at the first sitting. However, for those thai come to the meetinq, without contactinq our office, we will probably need to take more time to rev�ew and prepare. We would appreciate it if these people can be asked to contact our office for an appointment to view their property and to gather whatever data we miqht need. I hope the following information in this booklet wil] be of assistance to you in your deliberations for this Board of Review. Property tax laws, in Minnesota, are extremely complicated, and many taxpayers are understandably confused by them. Hopefully, we will be able to educate as well as equalize at these meetings. If you have any questions on this year'sassessment or anything else reqarding property taxation and valuation, please feel free to contact me. I also want to thank you for your fine conduct of these meetings in the past. Leon Madsen, Assessor , r� I � AUTHORITY OF THE LOCAL BOARD OF REVIEW ' Assessments of property are made to provide the means for the measurinq of the relative share of each taxpayer in meetinq the costs of lOCal qovernment. It is the duty of the Assessor to assess all real and personal property � except that which is exempt or taxable under some special method of taxation. If the burden of local goverr�ment is to be fairly and justly �hared among the owners of all property of value, it is necessary that all taxable property ' be listed on the tax rolls and that all assessments be made accurately. Fairness and justice in property taxation demands both completeness and equality in assessment. t Minnesota Statutes Section 274.01 provides that the councii of each city shall be or appoint a Board of Review. These meetir�qs are required to be held between April 1 and June 30 and the Clerk of the Board of Review is ' required to give published and posted notice at least ten days before the date set for the first meeting. 1 ' ' ' , � ' 1 ' 1 ' 1 The Board of Review of any city, unless a longer period is approved by the Commissioner of Revenue, must complete its work and adjourn within 20 days from the time of convening specified in the noticP of the Clerk. No action taken subsequent to such date shall be valid. A request for additional time in order to complete the work of the Board of Review must be addressed to the Comnissioner of Revenue in writing. The Comnissioner's approval is necessary to leqalize any procedure subsequent to the expiration of the 20-day period. The Commissioner of Revenue will not, however, extend the time for local Boards of Review to meet past June 30 because County Boards of Equalization convene on July 1. The authority of the local board extends over the individual assessments of real and personal property. The board does not have the power to increase or decrease by percentage all the assessments in the district of a given class of property. Changes in agqregate assessments by classes are made by the County Board of Equalization. Although the local Board of Review has the authority to increase or reduce individual assessments, the total of such adjustments must not reduce the aggregate assessment made by the assessor by more than one percent of said aggregate assessment. If the total of such adjustments does lower the aggreate assessment made by the assessor by more than one percent, none of the adjustments will be allowed. This limitation does not apply, however, to the correction of clerical errors or to the removal of duplicate assessments. The local Board of Review does not have the authority in any year to reopen former assessments on which taxes are due and payable. The board considers only the assessments that are in process in the current year. Occasionally a taxpayer may appear before a board to protest an assessment that was made Lhe previous year. The board should explain tactfully that it has no authority to consider such matters and that after taxes have been extended, adjustment can be made only by the process of abatement or by leqal action. ' ' 1 � � , ' � � ' , � ' ' � ' ' AUTHORITY (continued) In reviewing the individual assessments, the board may find instances of undervaluation. Before the board can raise the market value of property, it must notify the owner. The law does not prescribe any particular form of notice except that the person whose property is to be increased in assessment must be notified of the intent of the board to make the increase. The local Board of Review meetinqs assure a property owner an oportunity to contest the valuation that has been placed on his property or to contest or protest any other matter relatiny to the taxability of his property. The board is required to review the matter and make any corrections that it deems just. When a local Board of Review convenes, it is necessary that a majority of the members be in attendance in order that any valid action may be taken. The local assessor is required by law to present his assessment books and papers. He is required also to take part in the proceedings but has no vote. In addition to the local assessor, the county assessor or one of his assistants is required to attend. The board should proceed imnediately to review the assessments of property. The complaints and objections of persons who feei aqgrieved with any assessments for the current year should be considered very carefully by the board. Such assessments must be reviewed in detail and the board has the authority to make corrections it deems to be just. The board may adjourn from day to day until all cases have been heard. A property owner may file written objections to his assessment with the assessor prior to the meeting of the Board of Review. Such objections must be presented to the board for consideration while it is in session. Before adjourning, the board of review should cause the official proceedings to be prepared. The assessments of omitted property must be listed in detail and all assessments that have been increased or decreased should be shown as prescribed in the form. After the proceedings have bPen completed the record should be signed and dated by the members of the Board of Review. It is the duty of the County Assessor to enter changes by Boards of Review in the assessment book of each district. ' ' , J � rI , � � , ' � ' ' � � ' ' 1984 ASSESS�MENT The assessment being heard, at this meetin�g, was made as of January 2, 1984, and will be the basis for the taxes payable in 1985. This year's assessment included a physical review of the properties within the colored area of the map on page 2. In addition to these prope�rties, the Assessor's office valued all new construction on properties througfiout the balance of the City. We have completed the transfer of the residentiai property appraisal data to the Anoka County computer system. This ye�ar's assessment was calculated 100� via the system. Our in-house computer studies, of resident:ial sales for 1982 and 1983, indicated approximately a 2.3% increase in the level of sellinq prices. The County Assessor found a need for some increase in residential property, countywide. His decision was to increase the base structure values b� 4% and to increase the rate of depreciation by 2X. This wo�ild result in somethinq less than a 2�' increase in structure values. The land vtilues were left up to the local assessor to adjust as they saw needed. I1` you will remember, the County Assessor increased our land and building ��alues 4% last year. This was physically accomplished, not by increasinc� the rates within the computer, but rather by addinq 4% to the previous yErar's values as we had manually calculated them. To accomplish the 4% inc:rease in rates and 2X in depreciation, for this year, the County actually went b��ck to our i982 base. Therefore, what was done was, the 4% addeci last year was dropped, bringing the assessment to approximately the 1982 'level. Then all properties were recalculated by the computer usinq the 4% hiqher base rates and the 2� accelerated depreciation. This will resu'It in approximately a 2X reduction, overall, from the 1983 assessment. The C�>unty Assessor conferred with me as to where I Lhouqht our assessment �S W°aM;est. Usinq my studies, done on our in-house computer system, I found that oui�very averaqe quality homes, say in the �55,000 to s65,000 bracket were sellii�q for somewhat more than our valuations, relative to all other quality homes. It ��as my decision, based on this analysis, to increase the base value of tl�ese houses approximately 4�, excluding land. Inasmuch as this bracket of homes, represents the largest single cataqory of all homes in Fridley, this adjustment I�ad considerable effect on the overall assessment. Enough so, that the overall ��atio was brouqht up to a satisfactory level with the balance of Anoka County. 2 ��, � �- - `�i'`.::;: ',, _ " c�s.�.rMr —� —� ;,•::_�:; ;:J;,* � ��— V ns�wc�s �� os�s _`_. :r,�t;; �:r.i — •• � I � E': �fE � —=' � ��.- ,� '� -- • ` `sa ►.� !-' ' ' {.._..��_.. ��' � � � � .....' A �. r" . ` ,f,� � ,^ ; ��' � �� _ �; ' '�c • �.=�'-'3^.t,_.:- y = _ , : ,, � . ___ �- , � + � �__-?;�� ,:. ,� ' i' - = --- . \' �wt - L _ �-� � . _ _ _' �,�, � '\. 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L = :• ' `= .• � Lg�. � r +II � ��a f � ��i - � T'-_ ��:_^ cs• n £-' _E E_ = I -.`.- ,��. : �_. '� �r __ �-r_.: Fii -_ g- _ a-:i - rzs ` p r � - �r_ _� � =.�� ti'_._ �i' :_ �� :,� - =`� _ � �; = � : .. � _ � . -- _�'' � __=� € � - : - -_ .._. '�1' i �^'•e = 'i s s� `'"'a _ cv: � _ e Er.. ` �" ' __' _' F.i:, a �- E L•'r' t: �: - _E e�i`z 'g � asth " �Tz , £_:..:� xc:. e =r.��'..:5 f __ �i " -_L�� E z =`: �`: _` �i. s �:• `-E � .;+�' ,� '- �Ec �. °_ '_ eas e �..... � } � F - � �=: - ' - � e ��'^-5 =•' *� t i � �;^: e�� s��. • _P ��T.� E . � �� - -_: e . - r : a_c--- i. _: a � �.• e asz•" c s:_' _ sz' e a': --a :4� �.�. _ �E- _ e �'sr "_ � � �� i � esi ..�w '� ;� -�- - �TREE,f MAP-CiTY OF ��-- �� FB:IDLEY �- � ": }��..; ^°---�- - '..... . �� ==-- c= _-� , r SALES STUDIES 3 � I have included, in this booklet, a complete list of all residential sales, i� Fridley, for 1983. These are copies �f the actual output of our new in-house sales study system. Pages7 to 11 are a listinq of all sales with a sunmary an page 11 . Pages 12 & 13 are aTist of only the averaqe (�f7 in � the Rate column) homes. There were 200 sales recorded, in 1983. There were 85 of those in the average (7 rate) cataq��ry, which is a majority. The summaries of the two qroupings show an av�erage ratio (our E.M.V. to sellinq � price), of 93.35X overall and 91.21% for the 7-rate homes. This was the basis for my decision to increase the base rate of all homes with a previous 7-rate by approximately 4�. By not increasing t'he land value, the net overall property � values of these homes, probably increased only 2.5%, bringina them well in line with the other properties, and brinqinq our totai assessment to a comparable level, countywide. i � � , ' � � , � � � ' ' I think, additionally, these sales data will be helpful to you, in your deliberations for this meeting. From it, you can see what homes are actuall,y sellinq for, and haw th�ose sellinq prices relate to our values (EMV). Following, is a key to readinq the sales 'iist: -At the top of page is the year of tlhe sales. This is also the same year's EMV , ie., 1983 sales and 1983 EMV's. -The full list of sales is listed in ascendinq order of the sales ratios. (the last column) -The first column "MO" is the month ��f sale. -The Rate column tells the rate catac�ory we based our EMU on. 1 is the hig esh t rate or top quality. Two diqit numbers are a rate in between single number rates. 12 is between a 1& 2. 15 is between a 2& 3. 18 is between 3& 4. 21 is betwE�en 4& 5. 24 is between 5 R 6. 27 is between 6 b 7. 30 is betwE:en 7& 8. 33 is between 8 R 9. A rate above 7 is usually a sub�►tandard house in some way. My recommended 4� increase in all 7••rated houses, now puts them at 27, between a 6 & 7. -The legal PIN column is the propert�r I.D. number. The first 2 numbers indicate the Section in which thE� property is located. The map on page 6 has numbered squares. ThE� squares are the outline of the U.S. surveyed sections and they show 1;he section number. -The next 6 columns are the style of house. RM = XP = SE _ SL = 2S = TH = Rambler (Y = yes N = no) Expansion (0=unfinished upsl;airs, not an expansion) Split Entry Split Level Two Story Townhouse 1=finished upstairs, 2=it's , r � , , , ' � � , L� � � , � i � �I� � ' I 4 Sales Studies, continued. -BAS column indicates 0= no basement, 1= partial basement, 2= full basement. -GAR is number of cars and whether attached, detached or tuckunder. -The Extra bath columns indicate loc�ation and size of extra baths. 1= full, 7= 3/4, 5= 1i2. -The Fireplace column indicates 0= �none, 1= 1 downstairs, 2= 1 upstairs, 3= 1 up and 1 down. -Basement Finish is a YES or N0. -Central Air is a YES or N0. -Porch is YES or N0. -Floor area is in square feet of groilnd cavered. -Year built and lot si2e are self ex�planatory. -Location influence indicates if pro�perty is located on heavily traveled highway or railroad. -Price is reported selling price. -EMV is the Assessor's current Estim�3ted Market Value. -Ratio is of EMV to selling price. The summary, at the end of each report, in�iicates the result of a number of computer analysis. 7he first column of to�tal values is rather unimportant except the total number of sales in the study. The Coefficient Of Dispersfon is the statisical measure of our performan��e in terms of equality. It is stated in percentage points of plus or minus averaqe deviation from the averaqe ratio. The State Department of Revenue ra�tes a C.O.D. of 10 or less as being excellent performance. 7he second u�lumn is very informative. - First is the average selling price of the sales in the study. 1983 sales averaged $74,577. 1982 had �� averaqe sale price of �72,854, for an indicated increase in the m��rket of 2.3�. - The next item, in the Averaqe colurnn, is our estimated market value of the average property sold. - Next, and probably most significan�t along with the C.O.D. is the Average Ratio. This indicates tha�t our EMVs average 93.35% of selling prices. - The next 3 items give us a rough p�icture of the physical nature of the average home. For 1983 it was bui'It in 1963, had 1030 square feet, had a 10,703 square foot lot (abouit 77 X 138). Some additional hand procedures will show the aver��qe home sold to be a rambler with a 2-car attached garage. IJ I r Sales Studies, continued � One fairly distressing observation, of the sales study, indicates that 22� of the properties sold for less than our estimate of value. A certain number of these can be attr�buted tu extreme financinq arranqements, which � can distort the real value of the sale price. It also, however, shows that when we stress for a high ratio of value to market, we are inevitably qoing to have a certain amount of our assessment over valued. In the future , we will hopefully be able to utilize our ccxnputer system in analyzinq the dssessment and eliminate some of the extrE�mes we now experience. , ' , �� P� � � � y`,�� e;n,��i�•'a. . . :=Si� V,� '';�,?; ,s -��.� . . i'o J I •�L.�e »; Y \ \ ,, _ �� — �� 4•� • `� . t ��Ii � __ � s \ �}� �..� �c �_ . - ,: � � � -- � � ' ��-� �� . ',�J�� / �\• C� �., d,\ - - ��, � � , ; N � � - � ,� � ' ,�' ` W E , I / � S ' — � � -- , ; Q ay � � . bi � �. I —.�� — — .,J � 3 � I �� ' � � •�x' • ��;� �•i�; °� � �� '`. -- � �.. / � c� _- ' � ./ �`' , ',: .�r:.. ;; t " _ M ,,, � I �� ; - - � 1 �� - � 1 f � � �� ; � ; � . `� . =� .:�' � I A� �I 1 � , \� �..'�� — t � y � I � + _._ �. ..,,,�� __ ' __ __.- �- .� , � '�� _ .�� k 1 I ��'�' �� >. � �� Y �t3 �, - x j � ^�i�. . ti / ;11• : } �„ �� , / r'� �n �', 1 � .. y.�.: � n,^„f^�� ,� � +� � � "•�. _ ;:��_ �> � �� , - �� _ J � ' � �� {JMY �FRI�L�. � - • < T vo,�HC sa+oo� _ wrnu.nr. � � _, DISTRIC7S s i Gl4TA1Cf S � :L'� R.r ... �_ 1�L__ _ . .. �b • � . .r,�� .. � — . = _ ; ..,,..., . " �" M � � �1�, , 1�. I!`� 1. ,�S s�L�{ . �' ' - - �-� g� -� �i� �► �� ; ` If�l� ,.�� r- _�� I� � - �� r ��! �� ; ! --. I - — � I i=� 1 . , ..._ _.. �.� -- � I - J — � �_:. J� o� � = �r :� ��'� �� _ �' I�q�v�� J�1� '--�. \\ 1� ��IF t�"� � � -_ t . 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E:,1!� 64, (K�� co, 7�t� a�, s��, E � , or�n 57, 7f�(� 6�', 2t�Q c , .pr Jl': � sa �rr �„ _.� � 64 � •°:�f' 5F.4U0 f�: � ?(►n ;'��:�(, 6�1, 6(�' �r c7� 71�JVi ct., (�r,n b��, io►� t `� �r��, 62, �h1n �i� r �� 43, 2(�r� �r., �� 44,:Or, 12 o,p?In 7:. g? ��,70 �4.4� ».ti: �?.6E� 3Q.16 s�.E� , .�. . 8?.7 s;�, r,' -,� °4..,_ Ro.3` 34.t3 84.7s gq, o� R4.9° �.17 s�. � 35. t•1 R5.6� FS. °''. E6.6! 8E•. 7: 87.25 87.7� °1.7? �. �: fi2.4` s�. n �. Fn R�. E:' o!�, o� �.� �.� � 90.0( �0. t►0 9U.4` ?1.73 <K�. g? 91. 06 - �:. ot. ?I.1Q 9:.3: °:. "••1 ?:. 6E• °:.67 9:�.0.� � � ' !� RAtE '? 7 5 7 '� 7 : 7 ' � 7 4 � 1 7 ' 7 7 � � 2 7 � � ' 3 7 s � '1 7 :o ? , , , : i : 7 � � ;n 7 ' ? 7 1 ' E� ' ' : i , PIGN 11 i��l 12110037 13140055 13240010 6320080 141 � �E 2b32t►02? 121:0(►PS 0:�?:0093 2424t�'?'S 2ti2:UM: � 1301?Q 2?�10034 2t�2�(10�4 1:1 ! 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FLt►0° ARfA = i�+4?` ?O�A� :OT SI2E = !� ''_31 M.�'�F 0� SA�E� _ � c:n � �i� li�SII1EEtnI� SA:_E& OA?A FOR 19 &3 SORTED B1f: RAT: H A�T H HAS CFN' t� D01M fP FIN AIF PCH 0, 0 0.0 0.4 0�0 0. 0 0.0 0.� �.6 o, e 0.� 4.0 0. 0 0.0 O.Q 0.0 0.0 o. o 0.5 �. 0 e. o �.� O.Q o. o 0. 0 o.e o. o Io1. eA V�t� o, r 0. 0 0.0 0.0 0.0 0.0 0.7 0.0 0.5 0.0 0. 0 0.5 0. 0 0.0 0.0 0.0 0. 0 o. � 0. 0 O.5 o. e o: e o. o 0.0 o:e n. o 0.0 Q�S O.Q Q, S RfP;�T i'AT� a� �c:is4 FLR YEA4 SI1� LQ AF�A 9LT HIDE DEEP IIF PRICE 190�SQ6 � 0 iT8�4 1� 1 �� 1�� 111R IMO l� 672 :0� im 13A4 10,? ��^ i �� :c�ao ?44 '�� ±�Q 104^ ;c�� 1344 :�t► A�'�A!'� PR: C� = 1ti�:73. 9?E�4?(1� A:�RA�:E E'V = `�:'':U.?!+4?(�0 Al'��:A�?E RA?IO = ?:.::?010E•?5.` Ati'�RA;E YEAR fL�'�? = �E•.7�^r.�o�±?�:o AVERAGE F:L1C�'. Afi�A = 9x'.2?A:2764' AV=R►�GE LQT SI2E = :20.6.24705°" , �SEFF:C:ENT QF DISF�R:•I4N RY lfAIV = b.4�'?7444t•i� � � �j 't �lj, '7 2 ' � ( �t i• _ ' C� /' �' L �,il�- �dv_�� ' ' � l� � � 0 :� � � � 95 8� 07 li� 11� � � 65 � :� 75 i� � 389 130 1?0 13C' !� � �� l�: 1'.'.S 13() 176 �� 120 � 30: :3' I�` 134 21? ii� 13: �ie �� LL7 1?^ ioE :2a M�OQQ 68, SOc� 65�900 7�� t�►0 l�9, M�(! 6Q� (�00 rj$, ,riQ1 ti7, 4!►0 60� O�t� 66,QQ:� �F, cx►e �;;, t�'JO 63,900 6�+�0�' 73,24� f^, 5�� 63, 4i►(� 67 � 5(k� �.500 b2,°00 ��, c►n� ;?,4`0 �a, c�e �,000 56,?Oi, E.a, ec� «'�r ,, �►� i;, Q(►(j 59�� 4?,^�0 S:, 0('C' 64; �n ss, oc�c� �!!V S9,ItM t�, �;�t� 61,Q00 60 � 3�'J 6.�, q'�n � � t�^t� 54 � 4�1� 1_ , ��.� 56, �:►i� 6:, Q'?.� 6?, Oi'�'' 40, �!lh E0, 2C�? s7,`�� ti9,;0� f�0, 6�0 6U,6t� 65, ?('(' SS,IOC 61 � b(u� G0,�0r� C` � �n�1 7�,lOC `�,:00 SE•, 404 t.4 � 42C Ei,�oa �S� ip'? SE..1(�� 61, 4!t�` SA , E•��, �� : fN'i «� ��,� t.a,��:� E.F., 7U!; �, �^r� 13 RA?I4 9:.�4 o�, � .��'.'. `,+�7 42, 6! 92. 67 .0"1.9° 93.8? �3.94 93.04 9?,oj, 94.0` 94.8? a5.13 q�.�o .9d.74 97. 5� 97,0� 00,2? �s.4o lt`0.14 1!►G.?4 10��.3E ��?.t�: iei. �� io�. oc, i�..a� ! ^�. ?? 103.2: : �E•. ": :Ob.13 :oE.sa I �7. 5�' ;,., � ..:... y.�_ ,� 4�t �±4� � y;� : � , ; � • � �►/�M�� 4 �+��1�. � u ; ��] �e Board Review Meeting of May 21, 1984 was called to order at 7:35 p. m. by Mayor Nee. PI�F�DGE �F ALI�7GIAN(� • Mayor Nee led the Council and the auclience in the Pledge of Allegiance to the Flag. I�LL CALL • l�MBERS PR�SIIVT: Mayor Nee, Councilman Barnette, Councilman Schneider Councilman Hamernik and Councilman Fitzpatrick r'�ERS ABSETIT: None Mayor Nee stated the Council would concluct two meetings this evening, one being the meeting of the Board of Review which is a procec3ure established by State law to review values placed on properties in the City, and the other meeting is the regularly scheduled meeting of the Council. Mr. Leon Madsen, City Assessor, introduced Mr. Gordon Starkey and Mr. A1 Barck of the Anoka County Assessor's Office. Mr. Madsen stated the City is required to review at least 25$ of the properties in the City each year. He stated the area reviewed this year was property fram I-694 south. Mr. Madsen stated there has been no fixed set of rates applied this year, as the City has switched to a camputerized appraisal system. He stated the camputerized appraisals are seen in a samewhat different light than in the p�st. He stated there will be sane increases, as well as soqne decreases in the value of properties, so it will not be strictly on a percentage basis. ' Mr. Madsen stated the State law prescribes the City be at 100$ of market value. He stated it has been hard to do this because the criteria they use in establishing the value is due a year or more prior to the assessment. He ' stated this year the City is at approximately 90.4$ of market value based on the County's last sales ratio study. ' �J ' � ' � ' Z'he follawing persons appeared before the Council and raised questions about the values placed on their property: Mr. Ramesh Gupta, 5495 Danube Road, stated the market value of his home increased by $11,700. He stated he had finished his basement at a cost of $9,100, but the value added for this finishing was over $17,000. He stated he questioned the difference in what he actually paid for ref inishing his basement and the amount which was added to his market value. Mr. Madsen stated the property is valued at $142,400 with $30,300 in land value and $112,100 on the ho�ne. Mr. Madsen stated this is a split entry hcme with 1,645 square feet on the ground level, and last year's value was $130,700. Mayor Nee stated this question on the value can be referred to staff for further study, but it coqnes da�m to a fi.nal analysis whether the Assessor feels the home is worth $142,400. :�«�� • :�� a� ��. • ti: MrJTION by Councilman Schneider to ref er this iteqn to the Assessor' s Of f f ice for review anc3 a report on June 4, 1984. Seconded by Councilman Barnette. Upon a voic2 vote, all voting aye, Mayor Nee declared the motion carried unanimously. Mr. Gary Boyer, 5589 6th Street, stated the value on his property went up from $72,200 to $82,200 and he felt this was too high. Mr. Madsen stated the staff had attempted several times to obtain access to this property to conduct an inspection, but to no avail. He stated there was no response to the notices left or Ietters sent so an arbitrary valuation was placed on the property because they were unable to inspect this property. Mayor Nee stated it would be a good idea to work out a time when the assessor's Office could review the property. Mr. Madsen suggested Mr. Boyer call for a time that is convenient for them to review the property. MOTION by Councilman Fitzpatrick to refer this iten to the Assessor's Office for review and a report on June 4, 1984. Seconc�d by Councilman Hamernik. Upon a voice vote, all voting aye, Mayor Nee declared the motion carried unanimously. Mr. Richard Schillinger, 240 Rice Creek Boulevard, had phoned the City Assessor, Mr. Madsen, and indicated he would be unable to attend this meeting, but wanted it on record that he objected to the value placed on his property. Mr. Madsen stated this property really does not have the access to the creek because it has silted completely. He stated, in addition to this property, there may be others with this same kind of problem and he would like to treat all these properties the same. MDTION by Councilman Hamernik to refer this item to the Assessor's Office for review and a report on June 4, 1984. Seconded by Councilman Barnette. Upon a voice vote, all voting aye, Mayor Nee declared the motion carried unanimously. Mr. Alvin Gill, 1401 Rerry Circle, statecl the value placed on his property is $190,400 and the values placed on the other seven homes on Kerry Circle average $106,243. He stated he coulch�'t see where his home should be valued over $84,000 more than others on his street. He stated he made a c�nparison of comparable homes in the area and the highest value he found were $143,000. Mr. Gill stated there has been an 82$ increase in the value since 1980. Mr. Gill stated a higher per square foot cost is used in evaluating split level hanes, but the fact is that suc� a small portion of his home is, in essence, split level that it doesn't seem fair to base it on the square footage for a split level. He stated his logic is there isn't anyway he could sell his hame for more than $84,000 as compared with others in the neighborhood. -2- ' , ' ' �I r, � ' ' ' , C� ' �J , ' : � � �i� � � �1� y1� V� .'��\. � M i Mr. Madsen stated there is quite a difference in the rate used for appraising split level homes as opposed to ramblers. He stated, in the past, the rate for a rambler was used and another figure added for split factor. He stated by going through the camputer system, without trying to force figures, it beco�nes distorted in the system as you get into larger hanes. Mr. Madsen stated they have not devised a system to take care of this particular problem, as the computer is programmed to assess split level hanes on a different basis. Mr. Madsen stated there have been sales in the general area that would support the value placed on Mr. Gill's property. Councilman Schneider stated he would be interested in comparables if this house was valued on the basis of a rambler instead of a split level. MOTION by Councilman Schneider to refer this iteqn to the Assessor's Office for review and a report on June 4, 1984 on comparables for this year and last year. Seconded by Councilman Hamernik. Upon a voice vote, all voting aye, Mayor Nee declared the motion carried unanimously. Mr. Qzarles Bitzan, 1360 Fireside Drive, stated he has a split entry home and the value placed on it is $84,400. He stated homes on his area have been selling at $69,000 and $74,000 which are, more or less, comparable to his hame. He stated he didn't believe his home would sell for the value placed on his property. MDTION by Councilman Schneider to refer this item to the Assessor's Off ice for review and a report on June 4, 1984. Seconded by Councilman Fitzpatrick. Upon a voice vote, all voting aye, Mayor Nee declared the motion carried unanimously. Mrs. Judy Engebritson, 5216 Taylor Street, questioned what consideration was given to the hanes on Taylor Street due to the exp�ar►sion of Skywood Mall and the fact that their view is naw to look into motel roams. She stated this expansion has had an impact on the value of the homes on her area and a neighbor couldn't sell his hane $2,000 aver the market value because of the expansion at Skywood Mall. Mrs. Engebritson stated the value on her property went down $1,700 from $83,900 to $82,200, hawever, others in the area went dawn $3,000 to $5,000. Mr. Madsen stated this property was always valued as abutting commercial use. Mrs. Engebritson stated the property awners in the area are the ones who are ' taking a loss and they are not even able to sell their homes for market value. ' ' ' MpTION by Councilman Hamernik to refer this item to the Assessor's Office for review ancl a report June 4, 1984. Seconded by Councilman 5chneider. -3- �� t� � � � i� y1♦ M��'�iS�,. � 5f ► �• Upon a voice vote, all voting aye, Mayor Nee declared the motion carried unanimously. Mr. Tim McCauley, 5234 Taylor Street, stated he has the same concerns as Mrs. F�gebritson and felt the motel being constructed at Skywood Mall has destroyed the market value of his house. He stated he actually had a$3,500 reduction in value, but people are unable to sell their har�es in the area. Mayor Nee stated if this is having a real impact, sane adjustments will have to be made. MOTION by Councilman Hamernik to refer this item to the Assessor's Off ice for evaluation and a report on June 4, 1984. Seconded by Councilman Fitzpatrick. Upon a voice vote, all voting aye, Mayor Nee declared the motion carried unanimously. Mr. Berton Cross, 5801 2nd Street N.E., stated the value he questioned was the amount of $6,400 placed on a 40 by 130 foot vacant lot which is not buildable. He stated the lot doesn't even belong to him, but is his son's. Mr. Madsen stated this particular lot is in the name of Berton and Robert Cross. He stated Berton Cross owns an apartment building adjacent to the 1ot and they have always ass�aned this lot was part of the apartment building and the other two lots and it was valued accordingly. Mr. Robert Cross indicated he objected to the value placed on this lot. MOTION by Councilman Fitzp�trick to refer this item to the Assessor's Office for review and a report on June 4, 1984. Seconded by Councilman Hamernik. Upon a voice vote, all voting aye, Mayor Nee declared the motion carried unanimously. Mr. Don Cisar, 540 Cheri Circle, felt he should be given same consideration on his property because of the noise in the area from the highway. He stated the value this year is $59,500 and last year it was $60,100 so it has gone dawn, however, he stated he is unable to have his windows open in the sum�¢ner due to traffic noise. Ae asked for the same consic3eration as was given the properties located across the street fram his hane. MpTION by Councilman Hamernik to refer this item to the Assessor's Office for review and a report on June 4, 1984. Seconded by Councilman Schneider. Upon a voice vote, all voting aye, Mayor Nee declared the motion carried unanimously. Mrs. Heather St�anson, 731 58th Avenue, statecl she felt the value of $88,700 placed on their hame was too high. 5he stated this home was on the market this year for $79,900 and was dropped to $75,000 and still didn't sell and they decided to buy it fram her parents for $78,000. Mrs. Swanson stated the Veterans Administration had an appraisal of $88,500, however, this incluc7ed a n�anber of improvenents to be made. Mr. Madsen stated the home was inspected in 1981 and changes could have -4- ' �� '� � :�.i f 1 � ► �� 1� ff��►. � M e. � •S%� taken place since this time. He stated he would like the opportunity to again inspect this home. MDTION by Councilman Hamernik to refer this item to the Assessor's Off ice for review and a report on June 4, 1984. Seconded by Councilman Schneider. Upon a voice vote, all voting aye, Mayor Nee declarec3 the motion carried unanimously. Mr. C'tiris Zelevarav, 6477 Riverview Terrace, questioned the value placed on ' property he owns at 160 Mississippi Place. He stated it is valued at $264,400 and felt it was too high and would like it reviewed. Mr. Madsen stated the County does establish market values for apartment ' buildings on the structures and the City establishes the land value. He stated the County Assessor has inspected this property. , Mr. Starkey, representing the County Assessor's Office, stated there is one four unit building that is brand new and another four unit building on the property for a total of eight units. He statecl he discussed this with the ' owner and assumed he was in agreement with the value. He stated some consideration was given on one of the buildings because it wasn't fully canpleted. � MDTION by Councilman Fitzpatrick to record the protest by Mr. Zelevarov. Seconded kyy Councilman Schneider. Upon a voice vote, all voting aye, Mayor Nee declared the motion carried unanimously. ' � Mr. Michael Boyer, 159 Longfellaw Street, stated he f elt the value of his property was too high in light of the conunercial property on both sides of his hame. He stated the value went dawn $1,000 fram $59,100 to $58,100, but properties adjacent to him are not being maintained. Mr. Boyer stated, as it stands naw, the value is too high; however, if the ' oo�m¢nercial properties are cleaned up and maintained, he would be satisif ied with this value. ' Mayor Nee stated staff vaould check into having the can�¢nercial areas cleaned up. Mr. Leonard Benser, 154 Longfellaw Street, stated he had the same problems , as Mr. Boyer. He submitted photos and a soil sample f rom the commercial property. Mr. Benser stated he was satisif ied with the value of his property, if these areas are cleaned up. � ' CI �'� �, Mr. Frank Job, 5209 and 5250 Taylor Street, stated he has the same problem as the other residents in the area of Skywood Mall with the construction of the motel facility. He felt this creates a problem and decreases market values in the area. He stated he had his home for sale and dropped the price $10,000 and still coulch�`t sell it. MpTION by Councilman Hamernik to refer this item to the Assessor's Off ice for review and a report on June 4, 1984. Seconded by Councilman Barnette. -5- ►�.i �1� � � �� a1� M��1. � 5l i. _ Upon a voice vote, all voting aye, Mayor Nee declared the motion carried unanimously. Mr. M. Jaroslawski, 5201 Taylor Street, felt the neighborhood should have some c�npensation in the future because of the motel construction at Skywood Ma].1. Mayor Nee questioned if he wished the City to reexamine the value of his property. Mr. Jaroslawski stated he is not oo�nplaining about the value, but felt they should be given so2ne future consideration regarding their property values because of the expansion of the mal.l. MpTION by Councilman Barnette to continue the Board of Review meeting to June 4, 1984. Seconded by Councilman Schneider. Upon a voice vote, al]. voting aye, Mayor Nee declared the motion carried unanimously and the Board of Review Meeting of May 21, 1984, adjourned at 9:25 p.m. Respectfully su4nitted, Carole Haddad Secretary to the City Council Appraved: -6- William J. Nee Mayor _ ' � � �+. w. ^...3.f'. b�.-� t � t - � � _ � r � � � �� 55" .4* - �, ^r -;. �t. ;. .. �ri�... .. , . ':� �� ' f m ��. ;� Sr i' 3! ,� � �: �� . �� '�� t ; ��x� � c� t ,� -�� ( � s� i � �,�> � fi �� ;� t.� � , t:, �_�� *�;:�� `u �� - '�� Y �" b �i' �',� � L - �� R � L� 4'' � � � � t� , � � �� ;�� . ��, �'�� _ F�� ;; � � � ,� , , z� r + ,,; �:� . q. �i � . , E :. . . „ � � �� t?: �� : .. . . . .. . . -., ..,;. > 4; � �� R p?3��.;:s h.� P 7 `�rf �° � � � 1 ' ITEM #1 ' ' ' ' ' ' � � ' ' ' , 1 Ramesh and Sashi Gupta 5495 West Danube Road Subject Property Data: PIN 24 30 24 43 0053 �ot Size: 105 X 140 average width and depth Land Value: 1984 = $30,300 House Style Split Entry House Size: 1645 sq. ft. plus 1617 sq. ft. basement Garage Size 672 sq. ft.with full basement Features: 120 sq. ft. Screen Porch 310 sq. ft. deck 2 fire places 3 Extra baths Hot Tub Central Air Walkout basement 1279 sq ft basement finish Year Built 1980 Structure Value, 1984 = $112,100 Total 1984 Market Value $142,400 Market Value of non-basement living area per sq. ft. _$86.56. The subject is located in the Innsbruck North Second Addition plat. This plat is located in a neighborhood generally bounded on the South by I-694, on the West by Hiqhway #65 and Central Avenue, on the North by Grace High School and the Innsbruck Nature Park and the East by the Fridley-New Brighton governmental boundary. Innsbruck ►�orth is an area that has developed over the last approximately 10 years. The subject is very typical of the style, size and quality of homes built in this area. Following, are descriptions of properties that have recently sold, in subject area, which are judged, by this appraiser, to be comparable to the subject. Comparable #1� 1421 North Danube Road Sale Date: January 1984 , Seller: Perry and Margaret Beaton Buyer: Robert and Margaret Betzold Price: $150,000 Lot Size: 90 X 135 - average width and depth ' House Style: Split Level House Size: 1696 sq. ft. plus 1660 sq. ft. basement ' ' 1 Garage Size: 676 sq. ft. Features: 78 sq. ft. open porch 1 fireplace 2 extra baths central air walkout 1274 sq. ft. basement finish Year Built: 1978 Sale price per sq. ft. of non-basement living area =$88.44. 14 ' , � 1 ' ' �I ' J , � J � � ' , Item �1-Continued Ramesh and Sashi Gupta 5495 West qanube Road Gompara�ie �� 5663 Matterhorn Drive Sale Date: August 1983 Seller: Delphin and Marilyn Bechtold Buyer: Leslie and Meredith Gerdin Price: $150,000 Lot Size: 96 X 143 - average width and depth House Style: 2 and 1 story House Size: 1537 sq. ft. ground area covered, 2285 sq. ft. livinq area, 1445 sq. ft. basement Garage Size: 912 sq. ft. Features 175 sq. ft. 3 season porch 180 sq. ft. deck 1 fireplace 3 extra baths central air walkout basement 864 sq. ft. basement finish Year built: 1977 Sale price per sq. ft. of non-basement living area =$65.64. Comparable #3 Sale Date: Seller: Buyer: Price: Lot Size: House Style: House Size: Garage Size: Features: Year Built: 5490 Matterhorn Drive June 1982 Robert and Joan Ashwood Robert and Karen Sturm $139,900 - plus 5% adjusted for time of sale to January 2, 1984 assessment Date =$146,900. 91 X 125 - average width and depth Split Entry 1380 sq. ft. plus 1250 sw. ft. basement 485 sq. ft. 172 sq. ft. deck 2 fireplaces 2 extra baths central air 1030 sq. ft. basement finish 1972 Indicated Sale Price per sw. ft. of non-basement livinq area =$106.44. 15 16 ' , em 1-Continued It # Ramesh and Sashi Gupta �' S495 West Danube Road , Comparable #4 5548 West Danube Road Sale Date: December, 1979 ' ' Seller: Daverne Corporation Buyer: Dennis and Barbara Lemke Price. $119,900 - plus adjustment for time of sale to January 2, 1984 assessment dat� of 30% _$155,100. �' Lot Size: 80 X 180 House Style: Split Entry House Size: 1398 sq. ft. with full basement ,, ' Garage Size: 506 sq. ft. deck 1 fireplace 2 extra baths central air , , walkout basement 1160 sq. ft. basement finish Year Built: 1980 �' Indicated Sale Price per sq: ft. of non-basement livinq area =$110.94 � ' ' , � Item #1-Continued Ramesh and Sashi Gupta 5495 West Danube Road COMPARISON GRID 17 FEATURE SUBJECT COMP #1 COMP #2 COMP #3 COMP #4 Lot Size: 105 X 140 90 X 135 96 X 143 91 X 125 80 X 180 House Style: Split Level Split Entry 2& 1 Story Split Entry Split Entry Non-Bsmt Living Area: 1645 1696 2285 1380 1398 Garage: 672 676 912 485 506 Garage 8smt: Full 0 0 0 0 Porch: 120 Sq. Ft. 78 sq. ft. 175 sq. ft. 0 0 Crroan nncn Z ecaenn Deck: 318 sq. ft. none 180 sq. f� Fireplace: 2 1 1 Extra Baths: 3 2 3 Hot Tub: yes 0 0 Central Air: yes yes yes Walkout: yes yes yes Basement Finish: 1279 1274 864 Year Built: 1980 1978 1977 Estimated Market Value: $142,400 Indicated Sale Price: 172 sq. ft. 156 sq. ft. 2 1 2 2 0 0 yes yes 0 yes 1030 1160 1972 1980 $150,000 $150,000 $146,900 $155,100 , � ' � ' ' ' ' , ' r � ' , , � , ' , � Item #1-Continued Ramesh and Sashi Gupta 5495 West Danube Road Com arable #1 is very similar to the subject in the most significant areas of eiq or o-� Structure, Size and Style, and Garaqe size. They are also very similar in extra features including basement finish. The comp has a smaller lot. The subject is 2 years newer than the comp. Comp #1 is considered to be the most indicative of the value of the subject. Com arable #2 is in the same location area as the subject and contains many of the qua it�es and features of the subject. The comparable is 3 years oTder than the subject. The Comp has a smaller lot. Comparable #3 is similar to the subject in Style and extra features. It is also in the same neighborhood. The comp house and lot are smaller and is 8 years older than the subject. This comp sold in 1982, therefore, an adjustment was needed to brinq the sale price to current market levels. Sales studies have shown an approximate 5� increase in sales from mid 1982 to January 1984. Com arable #4 is of the same general style and is located just across the street rom the su ject. It sold, new in 1979. Quite a severe adjustment is needed to bring the selling price to current levels. The sale is used to support the values indicated for the immediate area of the subject. Based on the supporting data, the Fridley Assessor's office recomnends no change in the 1984 value as submitted @$142,400. 19 ' � ITEM #2 Gary and Wanda Boyer P.I.N. 23 30 24 31 0105 �� , 5589 - 6th Street I' An appraisal of the Boyer property was made on May 24, 1984, after we were allowed entry. The property consists of a 1065 sq. ft. Split Entry home with a 490 sq. ft. garage and a 140 sq. ft. deck on a 69 X 130 lot. Since the last appraisal a substantial amount of improvement has been made in the basement. A recreation room, bedroom, utility and bathroom have been added. '' Our arbitrary value more than covered these items of improvement. Therefore, the Assessor's office recommends the Board reduce the structure �'' ' value by $4,300 so that the total value be $77,900 rather than $82,200. �� ' � , ITEM #4 Richard and Beverly Schillinger PIN 14 30 24 22 0055 240 Rice Creek Boulevard � ' � ' The question on this property was the effect, on market value, of the loss of a true creek site when the creek no longer flows by the property. I personally viewed this property on Tuesday May 29. My observation was that the creek has indeed ceased to flow and has completely silted in. This loss created a rather swampy area between the subject lat and an island that once existed of this site. I also observed that the condition also exists for the next two lots north of this subject. Inasmuch as our office had been treating the valuations of these properties , as though they were located on the creek, it is my opinion that our market values on them are overstated. These lots should be valued similar to lots that back-up to open land that does have creek frontaqe. Similarly situated � lots can be found on the north side of Rice Creek Terrace, between Monroe Street and Highway #65. Applying the same land value bases, as used on these sites the Fridley Assessor's office, reco►�nends the following reduction: � ADDRESS 240 Rice Creek Blvd. 236 Rice Creek Blvd. 230 Rice Creek Blvd. PIN NUMBER 14-22-0055 14-22-0056 14-22-0057 OWNER Schillinqer Kohlan Hanson CURRENT VALUE $134,600 g114,900 $ 87,600 20 REDUCED TO $127,000 $106,600 $ 80,400 � ' , � , � � ' � � ITEM #5 Alvin R and Mary J Gill 1401 Kerry Circle Subject Property Data: P.I.N. 13-30-24-43-0041 lot size - 58.97' on street, southerly line = 133.09', westerly (or rear line) = 150', northerly = 60', NEIy = 128.55. (We are usinq 93' X 150' average width and depth.) Land value-1984 = $27,300 House style - Split level House size - 2438 sq. ft. ground area covered. 621 sq. ft. on basement, balance without basement. Garage size - 824 sq. ft. Features - screen porch 144 sq. ft. swimming pool - 550 sq. #t. central air 3 extra baths 1 fireplace 550 sq. ft. basement finish walkout 553 sq. ft. deck Year built - 1978 Structure value - 1984 = $163,100 Total Market Value - 1984 $190,400 The subject is located in the Heather Hills Second Addition plat. ' This plat is located in a neighborhood generally bounded by Old Central Avenue to the West, Rice Creek Road to the North, Stinson Boulevard on the East, and Grace High School - Innsbruck Park area on the South. , There is a very wide variety of homes in this neiqhborhood, valued from $30,000 to $300,000. This wide spectrum of values is the result of a typical neighborhood evolution, where, much older, spot development ' of the 1940s is being filled in with much hiqher quality properties. The latest developments, in this neiqhborhood have all been of a higher than average quality, than found in the balance of Fridley. , These are Briardale, Heather Hills Additions and Rice Creek Estates Additions. Because the neighborhood has a hiqh percentage of it's area in hilly, wooded terrain, it is best developed for upper value , bracket homes. This is evidenced by the most recent development, in the neighborhood, of Heather Hills West. Four homes, with sales price from $221,000 to $415,000 were built since 1981. A fifth home in that ' development is for sale at a reported $298,000. This type of development indicates the trend of the neighborhood. Two of the homes, mentioned in the Heather Hills West abut the subject property, on the west. ' r � Followin� are property data of homes that have recently sold , that are considered comparable to the subject: 21 22 Item #5-Continued Alvin R and Mary J Gill 1401 Kerry Circle NE COMP. #1 6185 Heather Place Sale Date: October, 1983 Seller: Thomas Brickner Buyer: James M. McCulloch Price: $221,250 Lot Size: 75 X 138 - average width and depth House Style: 2 and 1 story House Size: 1298 sq. ft. ground area, 858 sq. ft. on basement 2382 sq. ft. of non-basement living area Garage Size: 726 sq. ft. \ Features: 2 extra baths 168 sq. ft. 3-season porch 1 fireplace (probably central air) Year Built: New in 1984 COMP #2 6175 Heather Place Sale Date: May, 1982 Seller: Thomas Brickner Buyer: Thomas and Joanne Elwell Price: $380,553 Lot Size: 80 X 125 average width and depth House Style: Split Level (Multi-Level) House Size: 3491 sq. ft. ground area, 1328 without basement, 5314 sq. ft. of non-basement living area Garage Size: 960 sq. ft. Features: 5 extra baths 540 sq. ft. deck Hot tub 2 large fireplaces Central air Year Built: 1983 � 23 Item #5-Continued , Alvin R and Mary J Gill 1401 Kerry Circle NE � COMP. #3 6187 Heather Circle Sale Date: June, 1982 I ' Seller: Thomas Brickner Buyer: Virgil and Bonita Brenny Price: $341,000 ' Lot Size: 78 X 180 - Average width and depth House Style: 2 story House Size: 3100 sq. ft. ground area with full basement, 5080 sq. ft. of non-basement living area , Garage Size: 752 sq. ft. Features: 482 sq. ft. open porch central air 3 extra baths 2 firep�aces walkout 226 sq ft deck Year Built: 1983 COMP. #4 6172 Heather Circle Sale Date: July, 1982 Seller: Thomas Brickner Buyer: Rose W. Totino Price: $415,000 Lot Size: 2 lots---one @ 120 X 120, one @ 90 X 123 House Style: 2 and 1 story House Size: 2780 sq. ft. qround area, 1813 sq. ft. with basement, 3836 sq. ft. of non-basement living area Garage Size: 574 sq. ft. Features: 4 extra baths 108 sq. ft. open porch 325 sq. ft. deck central air 2 fireplaces sauna Year Built: 1983 24 , ' Item #5-Continued Alvin R and Mary J Gill ' COMPARISON GRID ' FEATURE SUBJECT COMP #1 COMP #2 COMP #3 COMP #4 1-1 0 X 20 Lot Size 93 X 150 75 X 138 80 X 125 78 X 180 1- 90 X 123 House Style Split Level 2& 1 Story Multi-Level 2 story 2& 1 story Non-Bsmt Living Area 2438 2382 5314 5080 3836 Basement Area 621 858 2163 3100 1813 Garage Size 842 726 960 752 574 Porch Screened 3 Season - 0- Open 108 Central Air Yes ? Yes Yes Yes Extra Baths 3 2 5 3 4 Fireplaces 1 1 2 2 3 Basement Finish 550 ? - 0- - 0- - 0- Walkout Yes - 0- - 0- Yes - 0- Deck Area 553 - 0- - 0- 226 325 Not Tub - 0- 1 - 0- - 0- - 0- Sauna - 0 - - 0 - - 0 - - 0 - 1 Year Built 1978 1984 1983 1983 1983 Value per sq ft of Living Area $78.09 Selling Price per Sq Ft of Living Space $92.88 $71.61 $67.12 $108.18 P�� Item #5-Continued Alvin R and Mary J Gill 1401 Kerry Lane Com arable #1, at 6185 Heather Place, is judqed, by this appraiser to be the most comparab e to the subject. It abuts to the subject property on the west line. The 2 major differences, between the subject and comp #1 are the age of the structures, and the fact that one is a split-level style and one is a 2-story. They are very similar in amount of living area, lot size and garage size, which are the most important factors in estimating market value. Both : structures were developed and built by the same builder, hence, the quality of of construction is similar. The subject, additionally, has a swimming pool and a good amount of basement finish. The age difference of six years would account for the major portion of the difference between the $190,400 value of the subject and the $221,250 selling price of Comp #1. Com arable #2, at 6175 Heather Place, also abuts the subject on the west line. T�s property, along with Comparables #3 and #4 are much larger and more elaborate than the subject. They are included here to illustrate that the subject is not overimproved for the neighborhood. 7he value of Comps #2, #3 and #4 tend to bear-up the value of the subject with their close proximity and comparable location. As was mentioned at the May 21 meeting, our office feels that the current method, in place on the County Computer system, unequally values split-level homes as they approach the 2000 sq. ft. area catagory. We are currently evaluating a method by which we can use the system to provide a more equalized value of this type of property. One method, which we have given much thouqht to, when applied to this subject property, would produce a value of $175,500. It is our sincere intention to implement a method, along this general line, for the 1985 assessment. This appraiser is of the opinion that the $190,400 value, that is currently on this property and that is herein supported by comparable sales in the neiQhborhood, is 1000 of market value. A reduction to �175,500 Mbuld produce an indicated ratio of approximately 92�, which is very close to our current overall, citywide ratio. The Fridley Assessor's office recommends this reduction. ITEM #6 Charles A Bitzan PIN 12 30 24 13 0068 1360 Fireside Drive A review of the subject property was made May 25, 1984. It was found that a few items of final finish has not been done since oriqinal construction in 1976. Some of these items include no floor cover or trim in entry; no trim around patio door or window in kitchen; soffits over kitchen cabinets are not enclosed. The house is a split foyer, but the basement is not a. typical split foyer in that the windows on the side are small and there are no windows to the rear and one side. This would have a somewhat neaative� influence on the sale of this property. Therefore the Assessor's office recommends the Board reduce the structure value of subject by $2,500 so that the total value by $81,900 rather than $84,400. The following spread sheet compares the subject property with two recent sales of split entry homes. Neither of the comparables have any basement finishing. If the subject was 100� complete and was a true split foyer, it would be reasonable to assume it would sell for around $85,000. FEATURES Area Lot Size Year Built Garage Extra bath Air Condition Fireplace Walkout Dec k Shed COMPARISON GRID SUBJECT 1312 sq ft 120 x 125 1976 728 sq ft no no no no no 224 sq ft 1984 Estimated Mkt. $84,400 Date Sold Sale Price COMP #1 1348 sq ft 75 x 133 1981 524 sq ft yes yes yes yes 120 sq ft no January 1984 $85,500 COMP #2 1213 sq ft 75 x 200 1978 544 sq ft no no no yes no no November 1983 $85,900 ,- 26 0 ' � � �i � � � � , ' , ' ' , � ' � ' ITEM �8 Aaron and Judith Engebretson 5216 Taylor Street Subject Property Data Lot Size: Land Value: House Style House Size: Garage Size: Features: Year 8uilt: 100 X 120 1984 - $22,200 Split Entry 1000 Sq. Ft. 480 Sq. Ft. 120 Sq. Ft. open porch 104 Sq. Ft. deck 1 fire place 1 extra bath Central Air Walkout 729 Sq. Ft. of basement finish 1964 Structure Value-�59,800 Total Estimated Market Value, 1984: E82,000 PIN 25 30 24 22 0083 The subject is a fairly typical home of Split Entry desiqn, built in the 1960s construction era. It has the features usually found in the averaqe, to above average class of home, namely a deck and porch, fireplace, larqe amount of basement living space, good size garage and central air. The location is on a hillside lot with a view of the Minneapolis skyline. The adjoininq property, to the rear of the subject slopes down and away and i5 developed with a neighborhood type shopping mall and a newly developinq 100 unit motel. All of this development, to the rear of subject, is within city ordinances with more than adequate set-backs and low visual encroachment. The routine ingress and egress activity of the mall-motel development is on the site of the building away from the subject. A low amount of this activity takes place on the side of the building toward the subject. The owners of subject property have effectively controlled any visual distraction by employing a planted screening at the rear lot line of the subject. The rearward slope away from the subject leaves only the roof of the adjoining property exposed to visual contact with the subject. Following, are descriptions of properties recently so]d that are comparable to the subject: 27 ' � � ' � _J � Item #8-Continued Aaron and Judith Engebretson 5216 Taylor Street Comparable �1 5201 Taylor Street Sale Date: April 1983 Seller: Howard and Lorraine Agee Buyer: Michael and Joanne Jaroslawski Price: $93,500 Lot Size: 90 X 125 House Style: Split Entry House Size: 1164 sq. ft. with 1066 sq. ft. basement Garage Size: 618 sq. ft. Features: 120 Sq. Ft. deck 1 extra bath 1 fireplace central air walkout basement 648 sq. ft. basement finish Year Built: 1975 ' Comparable #2 5234 Taylor Street Sale Date: March 1982 Seller: George and Gene Hale Buyer: Timothy and Mary Jo McCauley Price: $91,750 Lot Size: 100 X 120 House Style: Rambler House Size: 1206 sq. ft. plus full basement Garage: 484 sq. ft. Features: 1 extra bath 2 fire places walkout central air 908 sq. ft. basement finish Year Suilt: 1964 Comparable #3 Sale Date: Seller: Buye r : Price: Lot Size: House Style: House Size: Garage: Features: Year Built: 5200 Fillmore Street April 1982 Georqe and Lori Boomer Joseph and Judith McHugo $101,000 95 X 130 - average width and depth Split Level 1040 sq. ft. with full basement 299 sq. ft. 1 extra bath 300 sq. ft. deck 2 fireplaces walkout central air 432 sq. ft. basement finish 1957 r, 28 Item #8-Continued Aaron and Judith Engebretson 5216 Taylor Street COMPARISON GRID 29 FEATURES SUBJECT COMP #1 COMP �2 COMP #3 Lot Size 100 X 120 90 X 125 100 X 120 95 X 130 House Style Split Entry Split Entry Rambler Split Level House Size 1000 1164 1206 1040 Garage Size 480 sq. ft. 618 sq. ft. 484 sq. ft. 299 sq. ft. Porch 120 sq. ft. 0 0 0 (open) Deck 104 sq. ft. 120 sq. ft. 0 300 sq. ft. Fireplace 1 1 2 2 Extra Baths 1 1 1 1 Central Air yes yes yes yes Walkout yes yes yes yes Basement Finish 729 sq. ft. 648 sq. ft. 908 sq. f t. 432 sq. ft. Year Built 1964 1975 1964 1957 1984 Estimated Market Value $82,000 5elling Price $93,500 $91,750 S101,000 ' rl U �tem �Y8-Continued Aaron and Judith Engebretson 5216 Taylor Street Com arable #1 is judged to be the most representative of the subject in terms of � ty e, House Size, Features and Location. Comp #1 is not adjacent to the Commercial zoning, as is subject, and therefore does not suffer from the influence that they may have. � , � , � ' , r � ' , � � � � �' � Com arable #2 is used here, primarily to exhibit the price range at which there is st� no mar et resistence. Subject and Comp #2 are located next door to each other, and share virtually identical exposure to the Commercial development to the rear of site. Inasmuch as a split entry style home is considered more desirable because of the increased functionality of the basement area, these 2 homes are judqed to be very similar. Com arable #3 is another sale in the same qeneral neiqhbor hood. It is located ig er on t e hillside, almost directly up from the subject. Comparable #3 has a better skyline view, but is also in proximity to the Commercial development, previously mentioned. This sale, again, is used to give indication of the market range of this neighborhood. In its valuation process, the Fridley Assessor's office has recoqnized location influence for properties bordering the commercial development. Based on the evidence of this data, the Fridley Assessor's office recommends no change in the 1984 Estimated Market Value, as submitted of: �82,000. � ' 31 , ITEM #9 Timothy and Mary Jo Mc Cauley 5234 Taylor Street P.I.N. 25-30-24-22-0037 The property data, for this subject, is listed in Case #8 (Engebretson) as Comparable #2. The subject, itself, sold March, 1982 for $91,750, which would be the best indication of its value. Inflation, at the rate of 5� was recorded for the year 1982 with little or no inflation indicated since. Therefore, the $91,750 sale price should be adjusted by 5� to indicate a current value of $96,300. The other sales comparables, listed in Case #8, would apply also to this subject. Applying the data, listed for Case #8, to this subject, in similar fashion, would support our 1984 value as submitted of $81,500. The Fridley Assessor's office recommends no change in the Market Value as indicated. � • C!f Fonn'�d+ ...�% �,.•::: . _ . . -- ,. . -_: ' __ _ ' : STATE OF MINNESOTA � DEPARTl�1ENT UF REVENUE CONVEYANCE OF FORk'�ITED LANDS iasued Purauant To Minnesota Statutes� Sections 282.01 to 282.12 inctu�ive. � llth day uf July ,(q �S , betwr.en the T111S INUENTt'RE, htade this�__�� St�t�� uP Minnr•uta, a� party of' the fir�t part, and �� " T Berton N. Cros� and Robert rt• • s , p� �{ �he i �. . f , part ,"_.,.� oE the Count� uf ' •ond art. WITNEtiSETH: � �� P . NHEREAS, thc land hereinafter described, havin� t►ren duly forfeited to the State of �iinnesota for .. the nonpayment �i taxes, was sold under the provisions of Nlinnesota Statutes, Se��tions 282.01 lo =°2.12, I� ,' . of the se�ond art, and. inelu�ive, to the part]- P � P �- � WHEREAS, thr �aid part.] ? �- of the second part haYe_ paid in full the purchase price of �aid .. • ditiuns uf Said sale and arp - entitled to an land and ha3L�.otherwise fully compl�ed wdh the e.on I� � approp�iate conv�yanr.e thereof, '. NUW, THEREl�'URE, the State of ylinnesota, pur�uant to �ai�i �tatutes, and in rvnsideration of tlie � premi.sr�. �ioe� herrb� ant, bargain, �eit and cc�nv�•�� unto thr sa��i part� Ac of the s�cond rt t�e' r heir� an�l a,�i�ns, ForFVer, the iolluwing described iand � Anoka , and State of �linnesota, to•wit: Pin in thP (:ount of _. ty�ng and b g , Y �; • . D�.'., . , . - r .. _ � � • Lot Eighteen (18), Block �wenty-three (23), ' . . Hyde Park, , , _ . erceptinr and rr.servin� to the said state, in tn��t f�►r taxino di�tri�•t� concerned, all min�:ats and mineral � . rights, as provided bv law. - , �. . .. _ . _ _ _- .-..- _ �••.• �• •�E, t��ether with all the hereditaments an� appurtenarues � � ►pt�rtaining. to the �aid �art 1 PS _�: the sec�nd T.R. BOOK f��,D TE / J` _heir� and as�i��i�, I�urr�•er. �o de�d t::.: ;�il! ue pa�•abte on MtJtIICI . � T�=^ �.a � ' J� of �iinnesota has caused thi� deed tn be °xrcuted in it� name PLAT V� P�� L . State of :�linne.ota, the day and ti•ear first abo�•e HTitten. i + � T f STATE OF MINNESOTA i ',� T� S PAY LE IN 19�� ,;�,�A _�: " _� � nssESS r� crlc r�D cp pRTHUR C. ROE.NLR � t�;rco cP usE ri�r o�:sc , Commissioner of Revenue s V SZON # AC. r-� � �. ' 32 L� IT€NF #10 � Berton N Cross and Robert M Cross PIN 23-30-24-23-0084 Lot 18, Block 23, Hyde Park � Residential Address: Box 26, Howard, South Dakota 57349 This parcel is a vacant property 40 X 130 adjacent t� the North,of a three-unit � apartment building owned by Berton N Cross. A copy of a Conveyance of Forfeited Lands Deed from the State of Minnesota showinq ownership in the name of Berton N Cross and Robert M Cross can be found on the next page. The � assessor's office has appraised this property as part of the apartment building site since the purchase in 1975 with no complaints from the owners. The total land value was divided by the three lots, so lot 18 was given 1/3 of � the total land vaiue. Two vacant land sales comparable to the subject property supports our value. Comparable #1 is lots 4, 5, 6, Block 4, City View. This parcel is located on ' 57 /2 Avenue between 5th and 6th street. The zoninq is part R2 and part R1. It sold in June 1982 for $25,000. � Comparable #2 is the East 200 feet of Lot 13, Aud Sub #89. This lot is 200 X�34, located at the Southwest intersection of Norton Avenue and Central Avenue. The zoning is R3. It sold in June 1983 for $34,50Q. � Comparable #1 would indicate a per front foot value of #208.00. Comparable #2 would indicate a per front foot value of �172.50. A reasonable estimate of value from these two comparables would be between $7,000 and $8,000. � Therefore, the Assessor's office recommends no chanqe in the 1984 value of $6,400. r � r � � r � �� t , , ' � ll � ' �� ' , � , ' � � � � u r 0 ITEM #11 Donald F Cisar 540 Cheri Circle PIN 23 30 24 43 0007 33 A market analysis was made of this property which revealed sales of 6 properties fairly comparable to the subject. All are finished expansion t.ype homes on full basement located in similar neighborhoods. Comparable #5 is an estate sale and may or may not be market value. Comparable #4 has no garaqe. Of the five sales, #1 is the most comparable in that it is located approximately 430 ft southeast of the subject. It is of the same size, age and built by the same builder. Both have the same area of basement finish and both are air conditioned. The only difference bein� the subject has a larger garage and a basement half bath. TRAFFIC NOISE INFLUENCE A decibel meter was used to check the noise level on the subject and Comparable #1 at 4:00 PM, May 22. They both had a fairly constant reading of 65 decibels. A reading was taken at the property located at the southeast corner of Highway 694 and 7th Street which indicated 72 decibels. The assessor's office has recoqnized the traffic noise of the subject property to some extent in the valuation of the land. Those lots which abut 694 to the south have a base value of $13,000. The middle tier of lots have a base of $15,000. The next tier south has a base value of $16,000. If the subject property would be located at Comparable #1 the land would be valued at $1100 more. Based on the sales information and the noise level readinqs the assessor�s office recomnends no reduction of value. (See next paqe for comparables) a a [D fD � v �. � c� cu N 1 1 1 1 1 1 I 1 01 O+ � A tp S O O -' � � N 0�1 � � � V �� O �--' O O � tC � W t�a 3 C)'1 Oi �O �G Y J � � � � N i!4 C+ (n C 01_ � O � O t0 � W m �ss c. �n cn oi c+ Cn � e�h O �+ � O �G N N �--� -� �p lD 00 v W OD n x a m o D � ,s rr -s Q+ rr �D � O � � W N Qr �. � a � �. � � �. � � �• e+ S c+ N �• H 3 O 3 W Vt QD V w N � � W � �C -� � �O X N fD \ N Q1 � � � In N � O O• � � � � w GJ pp V t�t N � O W � � � � tC X Vl fD O N Ol N .G 1A � � O � � , fp • �I • 0 -a -a -ti r+ rr r+ p1 .A pp V V 3 � N -� � 0� O O tD X � � � Y � � � � � O . � � � W V V t79 t7'� 01 � � � N � OD O N O tG X m N � � rn -� � • (a • � --h �+ e* c+ Q1 V O C� � � � � �--� 00 � � � � � � � fD fD fD fD 01 W • � fi e�F � Q1 V .A � � � p � � � ° �o x O O O tn vt � � fD fD fD � � W • N e�+ c+ � � T 7 -� CT1 V V I Z � O S � n < r� ..� O O Z � O O N c't � N <.TI � Z f7 O a• �� I�: � O � � W Z N O W • I O� ? fi S N c* � J Z �.i� � n � o � f � � a �v� �a � � � G. �k � ,r. '�� i c� f7 f� O �+. �. � � N e-h Cf �1 ..a. �--� 'S � fD C fD a 34 ' ' ITEM #12 Carl and Dolores Larson (Heather Swanson) 735 58th Avenue 35 PIN 23 30 24 14 0054 A review of the Larson property was made May 29, 1984. A number of items of deferred maintenance were discovered. Some of the items would be the deck, and concrete stairs at the rear; repairinq the concrete floor in the porch; replacing some of the siding and painting the exterior. The interior would need redecorating and general repair to make it more� saleable. The house was originally built in 1956 and an addition of 684 square feet was added in 1971. Our effective age of 1962 would reflect normal depreciation. Now in addition to the normal depreciation, an extra 5� physical depreciation is recommended, for the deferred maintenance. Also, the value of the deck should be re.�oved. The value of the porch should be reduced along with the value of the basement finishinq. The recommended estimate of market value, by the Assessor's office, is $82,800, which is a reduction of $5,900 from the original value of $88,700. 0 ITEM #13 Chris Jelevarov PIN 15 30 24 42 0093 160 Mississippi Place Two four-plex properties on one parcel. Referred to Anoka County Assessor for report. ITEM #14 Michael Boyer 159 Longfellow Concern about neighboring Industrial. Referred to Department of Public Works. (See Memo #JF-236 ENCLOSED) ITEM #15 Leonard Benser 154 Longfellow Concern about neighboring Industrial. Referred to Department of Public Works. (See Memo #JF-236 Enclosed) ' I ' � PIN 03 30 24 42 0041 PIN 03 30 24 42 0032 E17 ' � � TE: l� ECT: ' � From tbe desi d I�A51� QURES}D CITY 1�ANAGER'S OFFICE . � MEMORANDUM �F-236 Ma 23, 1984 TO ACT; COMPLAINT FROM 154 AND 159 LONGFELLOW hn Flora DPW 5 3 HOMEOWNERS REGARDING INDUSTRIAL PROPERTY NEXT OOOR Please look into the complaint about some code violations and take appropriate action and give me the information and your action so it can be passed on to the City Council. Thank you for your assistance. , N+IQ/ms ' Attachment: 5 pictures from property owners 37 INFO --------------------------------------------------------------------------------------- 5/25/84 ' To CM The Assessor's Office was notified of a complaint about the property adjacent to 159 Longfellow in late March of this year. We inspected the property on � April 2 and found some minor deficiencies. 1. Unscreened dumpster 2. Equipment higher than the fence. ' After the City Council meeting of Mla�y 21, 1984, we reinspected this property (140 Liberty Street) and found the same deficiencies, plus a few more, to include a waste spi11. A letter was dispatched on Friday requesting corrective , action be taken by June 8, 1984. In addition, the Anoka County Health Department, Environmental Services was notified , of the waste spill on May 22, 1984, and requested to take appropriate action. JF/jmo , � LJ , ' 5 � 3� ' ITEM #16 William and Gloria Job 5250 Taylor Street Subject Property Data: P.I.N. 25 30 24 22 0036 Lot Size: 100 X 120 Land Value: 1984 - 22,200 House Style: Rambler House Size: 1638 sq. ft. with full basement Garage Size: 484 sq. ft. Features: 208 sq. ft. 3-season porch with full basement 2 fireplaces 2 extra baths central air walkout basement 1065 sq. ft basement finish Year Built: 1965 Structure Value: 1984 - $85,300 Total 1984 Market Value: $107,500 The subject is improved with a larger house,-than typically found in this neighborhood. It is designed to take advantage of the skyline view. Construction and finish detail is above average. It has features that are normally found in better homes, such as, 3 season porch, 2 fireplaces, 2 extra baths and a extra large amount of basement finish. The lot is wooded. There is a wood fence along the rear lot line that screens the Commercial development to the rear, from view of the house. The location is 2 lots north of Item #8 (Engebretson) and very similar. Comparable #1 Comparable #2 5234 Taylor St (Same as Comp #2 for Item #8, Enqebretson) 1651 Gardena Avenue Sale Date: February 1984 Seller: Douglas and Jean Taylor Buyer: Steven and Sharyll Tighe Price: $102,000 Lot Size: 124 X 130 House Style: Rambler House Size: 1586 Sq. Ft. with full basement Garage: 2-car tuckunder Features: i65 sq. ft. 3 season porch 268 sq. ft. deck 2 fireplaces 1 extr� bath 479 sq ft basement finish Year Buil�: 1957 Item #16-Continued William and Gloria Job 5250 Taylor Street Comparable #3 Sale Date: Seller: Buyer: Price:.� Lot Size: House Style: House Size: Garage Size: Features: Year Built: - 5211 Pierce Street January 1982 Jerold and Corine Lehman Gerald Nelson $107 ,000 70 X 121 Rambler 1312 sq. ft. with full basement 528 sq. ft. 240 Sq. ft. deck 1 fireplace 1 extra bath central air walkout basement 1120 sq. ft. basement finish 1981 39 Item #16-Continued William and Gloria Job 5250 Taylor Street FEATURE Lot Size House Style House Size Garage Size Porch Deck Fireplaces Extra Baths Central Air Walkout Basement Finish Year Built COMPARISON GRID SUBJECT 100 X 120 Rambler 1638 484 208 3-season 0 2 2 Yes Yes 1065 1965 1984 Market Value $107,500 Adjusted Selling Price 0 COMP #1 100 X 120 Rambler 1206 484 •0 0 2 1 Yes Yes 908 1964 $91,750 COMP #2 124 X 130 Rambler 1586 2-car Tuckunder 165 3-season 268 2 1 no no 479 1957 $102,000 40 COMP #3 70 X 121 Rambl er 1312 528 0 240 1 1 Yes Yes 1120 1981 $107,000 ' ' � � ' � I� � �� C� ' ' ' Item #16-Continued William and Glori� Job 5250 Taylor Street �41 Com arable #1, is considered to be the most indicative of the value of the subject. is �s based, primarily on the location, which is next door to the subject. The Comp is much smaller and has fewer features than the subject. The lot sizes and aae of structures are nearly the same. The Comp sold March 1982 for $91,750. There has been an approximate 5% increase in the market since that sale, which would indicate a current value of $96,300 for the Comp. By adjustinq the Comp for the difference in size only, at $50 per square foot would brinq the indicated value of the subject to $117,900. Comparable #2 is similar to the subject in structure size and features. The garage is a tuckunder, taking away from the basement area. The Comp is 8 years older than subject. The Comp lot is 24 feet wider than subject but is a corner lot, so because of setbacks, there is no qreat advantaqe over subject. Ry adjustinq the Comp for age at 1� per year and size of structure at �50 per square foot would indic�te a value of the subject of $110,900. An additional adjustment of subject for the tuckunder garage would qive a final indicated value of subject of $115,700. Comparable #3 is u�ed because of its location in the qeneral neiqhborhood of subject. It does sowewhat benefit from a partial view of the skyline, but not to the same degree as subject. There is a severe drop-off of the rear lot, of this Comp, so that a portion is practically unuseable. The lot is considerabley smaller, as is the house. The Comp is newer, by 16 years. This Comp is included here to �ive an indication of selling prices of rambler homes in the qeneral neiqhborhood of subject. The adjusted sale prices of Comps #1 and #2 would indicate a hiqher value, for ' subject, than the current $107,500. Therefore the Fridley Assessor's office recomnends no change in the value as submitted, ^ I I ' � � ' ' � � , ITEM #16 Francis and Ann Job 5209 Taylor Street Subject Property Data: P.I.N. 25 30 24 22 0026 Lot Size: 100 X 132 Land Vaiue: 1984-$24,500 House Style: Split Entry House Size: 1550 sq. ft. on basement Garage Size: 728 sq. ft. Features: 1 extra bath 1 f i repl ace *450 sq. ft. of basement finish Year Built: 1978 Structure Value: 1984 - $78,90Q Total Market Value: 1984 - $103,400 *There is no value for basement finish on our 1984 value. My review of the property, May 25, revealed the 450 sq, ft. of basement finish that must have been installed since our last inspection. We would not normally pick-up this improvement until our next scheduled inspection, which would be approximately 1988. Therefore, our value is understated as the house now physically stands. Subject is located in the same neighborhood as Items #8, #9 and 5250 Taylor. It is on the East side of Taylor Street. The house is larger than typically found in this neighborhood. It has the average amount of features, found in homes of this area. Following, are comparable properties that have sold: Comparable #1 Comparable #2 5201 Taylor Street (same as listed in Comp #1 in Item 8) 5200 Taylor Street (same as listed in Comp #3 in Item #8) Comparable #3 5490 Matterhorn Drive Sale Date: Se]ler: Buyer: Price: Lot Size: House Style: House Size: Garage Size: Features: Year Built: June 1982 Robert and Joan Ashwood Robert and Karen Sturm $139,900 plus 5% adjustment for time of sale to January 2, 1984 assessment 91 X 125 Split Entry 1380 sq. ft. with 1250 sq. ft. on basement 485 sq. ft. 172 sq. ft. Deck 2 firep?aces plus BBQ 2 extra baths central air 1030 sq. ft. basement finish 1972 �2 ' ' � ' ' r Item #16-Continued Francis and Ann Job 5209 Taylor Street FEATURES SUBJECT Lot Size 100 X 132 House Style Split Entry House Size: 1550 Garaqe Size 728 Deck 0 Fireplace 1 Extra Bath 1 Central Air no Walkout no Basement Finish 450 sq. ft. Year Buiit 1978 1984 Market Value $103,400 Indicated Selling Price COMPARISON GRID C�IP #1 90 X 125 Split Entry 1164 618 120 1 1 yes yes 648 sq. ft. 1975 $113,300 COMP #2 90 X 130 Split Level 1040 299 300 2 1 yes yes 432 sq. ft. 1957 $146,700 43 COMP #3 91 X 125 Split Entry 1380 485 172 2 2 yes no 1030 sq. ft. l 972 $146,300 Comparable #1 is considered the best indication ot the value of subject, primarily because of location and style. They are located next door to each other and are very similar in Split Entry design. Subject house and qaraqe are much larger than Comp #1. The features are relatively similar. By adjusting the comparable sale by $50 per square foot for difference in house size and $10 per square foot for garage, wou�d produce an indicated value of subject of: $113,900. � -� 44 ' Item #16-Continued ' Francis and Ann Job 5209 Taylor Comparable #2 is somewhat similar in design, but much smaller and older than � subject. It is located in the same general neighborhood as subject. An adjustment for time of sale, at 5% would indicate a current selling price of Comp of $106,000. Adjustment for size and age would bring the Comp to a ' total indicated value of $146,700. It is included, here to indicate a general value range for the neighborhood. Comparable #3 is located in a somewhat superior neighborhood, however, it � �s some of the same traffic characteristics, being on Matterhorn Drive and backing to a church, also close to I-694 and the ^oise influence there. Comp #3 is a considerably smaller and older home, however it has more, higher ' quality features. Comp #3 is included here to indicate value in a similar traffic location. � Based on the data of these 3 comparable sales, the Fridley Assessor's office recommends no change in the value as submitted at: $103,400. 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