5.0. SR 05-11-1998 - Laserfiche WebLink

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Board of Review Minutes April 30, 1998 Page 2 sharp hill in the back and is the least desirable lot on the cul-de-sac. Councilmember Farber indicated he is very familiar with Mr. Harell's property and agrees witl~ Mr. Harell. Ty Bischoff explained that the value of Mr. Harell's lot has increased from $34,000 in 1997 to $40,000 in 1998. Deputy Assessor John Cullen explained the valuations of the lots are similar even though they vary in size because riley have similar usable space. Mr. Harell explained the valuation of his t~ouse is also higher than any other house on the Dlock and that is not the case. Mr. Bischoff suggested Mr. Harell's lot valuation be decreased to $35,000. Discussion followed regarding the valuation of the house in comparison to neighboring homes. No recommendation for adjustment in the house valuation was made. 5. Larry Hickman - 75-587-0105 IFurniture and Thinqs - 15612 Jarvis Street) Chief Deputy Assessor Jerry Kritzeck presented a written objection to the $3,013,400 1998 assessed valuation (which includes $150,000 for land) from Larry Hickman for the Furniture and Things property. Mr. Kritzeck referred to the 1996 building permit application which shows a valuation of the work at $3,047,330. Mr. Kritzeck also referred to information from Mr. Hickman including the Sworn Builder's Statement showing the total construction cost to be $2,020,885.50, plus costs paid directly by Mr. Hickman of $149,794 for additional improvements and $141,000 for the raw land. Also included was a market value appraisal stating a value of $2,060,000 for the property which includes $150,000 for land. The Councilmembers and assessors discussed the valuation of other large buildings for comparison purposes including the Target store at $4.9 million ($3.8 mil. for the building and $1.1 mil. for the land), and Cub Foods at $3.6 million ($2.6 for the building and $1 mil. For the land). Councilmember Farber indicated he was in agreement with the County Assessor's valuation. The packet of information regarding this issue will be distributed to the City Council for review of the assessed valuation. 6. Mark Joncas - 75-584-0120 (11966 215th Avenue NW) Mr. Joncas expressed his objection to the large increase in his assessed valuation, referring to the calculation formula on the back of the card he received from the County. Mr. Bischoff explained the increase is due to the fact the previous years valuation was based on raw land and the 1998 valuation reflects construction of a new home. Mr. Joncas stated he understood the reason for the increase. 7. Adjournment The meeting of the Elk River City Council was continued to May 11, 1998. Respectfully submitted, Debbie Huebner Recording Secretary (7:35 p.m.)