04-25-2005 CC MIN - BOA - Laserfiche WebLink

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Board of Appeal and Equalization :Minutes April 25, 2005 Page 4 . 6. Mary Roy, Parcel Identification Number 75-478-0120 Ms. Roy lives on Naples Street in Riverview Heights in a home that was built in 1974. She stated that she observed a house at the end of her street that is on the market for $360,000 and it is 15 years newer and on the river and the taxes between her home and this home were only a difference of $300. Appraiser Holmgren stated this home is being taxed on the value of $202,000 and that it might not be realistic for this home to sell for the price of $360,000. He stated that the house stands on its own whether it is located on or off the river, but that the property on the river would be at a higher price range than other property. Appraiser Olson stated that Ms. Roy's property seems to be assessed correctly and that the property on the river needs to be re-assessed. No further action was requested by Ms. Roy. 7. Dan Schwark, Parcel Identification Number 75-503-0470 Mr. Schwark lives in the Brentwood Addition and he has a valuation for 2005 of $235,700. In 2004 it was at $216,000. He stated that the appraisal in 1998 was $168,400. Mr. Schwark feels that the value is at 100% of the market value and he is concerned that it will continue to go up 15% next year. . Appraiser Holmgren stated that he was through this neighborhood on a reassessment so the value may have been brought up closer to the market value. Assessor Kritzeck feels that this property was properly reassessed and did not get any additional value placed on it but only the 5% as the rest of the city. MOVED BY COUNCILMEMBER DIETZ AND SECONDED BY COUNCILMEMBER GUMPHREY TO LEAVE THE PROPERTY VALUE AS IS. MOTION CARRIED 5-0. 8. Richard Schulz, Parcel Identification Number 75-454-0120 Mr. Schulz has new construction on 1.2 acres which he feels is increased at 14%. He is concerned about the land portion versus the building portion. He stated that his competitors have not gone up this amount but only approximately 3% in value. He stated that the land portion now for 2005 is at $260,000 and in 2004 it was at $230,000. Assessor Kritzeck stated that commercial properties at value of less than $500,000 went up 10% and commercial properties that were over $500,000 went up by 5%. He stated that the price varies according to the size, the quality of the construction, the land, the age, etc. He stated that properties on Highway 169 are higher in value. Mr. Schulz stated that the ECM building has a land value at $4.85/sq. ft; the Yaeger building a land value at $5.51/sq. ft.; Rick's land value at $2.68/ sq. ft.; and his has a land value of $5.00/ sq. ft. . Councilmember Dietz asked what are the new building standards.