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Board of Appeal and Equalization Minutes <br />May 14, 2012 <br />Page 2 <br />Mr. Santwire distributed an updated handout of the properties he is appealing including 11 <br />factors that he believes need to be reviewed when considering the value. He stated that he • <br />met with representatives from the assessor's office and there was not enough time to review <br />all of the properties thoroughly. <br />Mr. Weber indicated that the River's Crossing parcels listed are classified as apartment but he <br />believes they should be classified as residential, non - homestead because each unit is <br />independently leased and rented and can be sold separately. This will reduce the net tax <br />capacity on the properties by approximately 25 %. Mr. Weber recommended that this item <br />be referred to the County Board because there was not enough time to completely review <br />the properties. <br />MOVED BY COUNCILMEMBER ZERWAS AND SECONDED BY <br />COUNCILMEMBER GUMPHREY TO MAKE NO CHANGE TO THE <br />PARCELS LISTED ABOVE AS RECOMMENDED BY THE COUNTY <br />ASSESSOR. MOTION CARRIED 5 -0. <br />3. Provo Enterprises, LLC, Parcel Identification Number 75- 757 -0115 <br />Mr. Weber stated that at the last meeting, the Board increased the value of parcel 75 -757- <br />0115 because of a garage addition. He stated that an updated notice was sent to the property <br />owner and he is present this evening to discuss the value. <br />Mr. Provo distributed a handout outlining his values and that of two similar businesses. He <br />requested his value be reduced to $877,530 to be consistent with the other properties or that <br />the value on the other properties be increased. • <br />Mr. Weber stated that the Board reduced the value of Exhibit A on Mr. Provo's handout at <br />the last meeting due to their sale price and a reduction in their office space. He explained <br />that the sale in Exhibit B was rejected because the seller assisted the buyer in financing the <br />purchase. <br />Mr. Riley distributed a handout with his recommendation to lower the value to $1,045,300. <br />Mr. Provo stated he is requesting an additional 15% reduction. <br />MOVED BY COUNCILMEMBER GUMPHREY AND SECONDED BY <br />COUNCILMEMBER ZERWAS TO ADJUST THE TOTAL VALUE OF PARCEL <br />IDENTIFICATION NUMBER 75- 757 -0115 TO $956,300 BY LOWERING THE <br />PRICE PER SQUARE FOOT TO $42.50. MOTION CARRIED 5 -0. <br />Mayor Dietz adjourned the meeting at 7:02 p.m. <br />Minutes prepared by Jessica Miller. <br />Tina Allard, City Clerk <br />J 4yn J. Die , NYayor • <br />