05-10-1989 CC MIN - BOR - Laserfiche WebLink

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Page 3 Board of Review Minutes May 10, 1989 e 5. Hubert Marty - 75-428-0256 Mr. Marty indicated that he owned a townhome and the valuation he received from the Assessor's Office for the townhome was $73,600. He indicated a similar townhome just recently sold for $65,000. Mr. Marty noted that he has had his townhome on the market for some time but has been unable to sell it. He stated that his debt service on the home is very high and that he is losing money. COUNCILMEMBER KROPUENSKE MOVED TO ADJUST THE VALUATION OF THE PROPERTY OWNED BY HUBERT MARTY, 75-428-0256, TO $69,900 BECAUSE THE STYLE OF THE HOME CREATED A HIGH DEBT SERVICE AND FURTHER DUE TO THE LOCATION OF THE HOME. COUNCILMEMBER SCHULDT SECONDED THE MOTION. THE MOTION CARRIED 3-0. COUNCILMEMBER KROPUENSKE MOVED TO ADJUST THE VALUE OF PROPERTY OWNED BY HUBERT MARTY, 75-428-0254. TO $69.900 DUE TO THE STYLE OF THE HOME WHICH CREATED A HIGH DEBT SERVICE AND ALSO DUE TO THE LOCATION OF THE HOME. COUNCILMEMBER SCHULDT SECONDED THE MOTION. THE MOTION CARRIED 3-0. 6. Cretex, Don Schumacher - 75-405-2310 e Mr. Schumacher indicated that a house owned by the Cretex Company. located downtown on commercial property, increased from $58.100 to $88.700 and questioned the reason for the increase. Jerry Kritzeck indicated that land value in the downtown commercial area has increased due to the area being commercial. He indicated that all of the commercial property in the downtown area has received increased property valuations. Mr. Ty Bischoff indicated that the buildings on the property have not received an increase in valuation but only the property. He stated that the property is assessed at its highest and best use. Mr. Bischoff further indicated that there has been no adjustments in the land values in the downtown area since 1981. Therefore, the adjustments have been made all at once. He indicated that the reason for this is because in the past there had been no sales to determine the land values in the commercial area. and recently sales have been made in the commercial area which determine the land values. 75-405-2315, Mr. Schumacher indicated that this is another house which is being rented out by a commercial business. He indicated that the evaluation of the property went from $66,100 last year to $104,000 this year. e 75-405-2305, Mr. Schumacher indicated that the Cretex building was assessed at $433,300 last year and has been increased to $484,200. Mr. Schumacher indicated that he is contesting that the assessed values for all three properties are too high.