04-24-2006 CC MIN - BOA - Laserfiche WebLink

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. . . Board of Appeal and Equalization Minutes April 24, 2006 Page 3 MOVED BY COUNCILMEMBER FARBER AND SECONDED BY COUNCILMEMBER GUMPHREY TO TAKE NO ACTION. MOTION CARRIED 4-0. 5. Suzette Willie, Parcel Identification Number 75-431-0150 Ms. Willie questioned the value of a new improvement in 2005 for $25,100. Appraiser Holmgren explained that there was a 16x24 addition in the back of the house that was never on their records so this was added to the value for 2006. A comparison was done of a home that sold in February 2006 for $164,900 with 1,110 sq ft versus Ms. Willie's who has 1,376 square feet with a market value of $176,700. MOVED BY COUNCILMEMBER DIETZ AND SECONDED BY MAYOR KLINZING TO HAVE NO CHANGE IN VALUATION. MOTION CARRIED 4-0. 6. Kent and Jeanne Peabody, Parcel Identification Number 75-503-0310 Mr. and Mrs. Peabody had questions about their property valuation that was at $289,900 and had been raised to $298,100. Mrs. Peabody asked about the taxable market rate compared to other property that they owned in other counties. Assessor Kritzeck explained that it is based on the estimated taxable value and that it can be more due to amenities. Counties can vary. He explained that the valuations are always at least one year behind and that a sales study conducted from October 2004 through September 2005 indicated that the percentage went up by 8% in Elk River. MOVED BY COUNCILMEMBER DIETZ AND SECONDED BY COUNCILMEMBER GUMPHREY TO HAVE NO CHANGE IN VALUATION. MOTION CARRIED 4-0. 7. Kevyn Story, Parcel Identification Number 75-006-2102 Mr. Story explained that he lived by the Pinewood development and that he had purchased his home one year ago. He stated that the assessed value was now more than what he had paid for it with a 9% increase in that one year time span. He asked how this could be justified. Appraiser Olson explained that river property went up 10% this year. He explained that there are tiers of land value for property adjoining rivers and lakes. The property was purchased in December 2004 for $220,000 and it was now valued at $236,400. MOVED BY COUNCILMEMBER GUMPHREY AND SECONDED BY COUNCILMEMBER FARBER TO HAVE NO CHANGE IN VALUATION. MOTION CARRIED 3-0. Councilmember Dietz was out of the room. 8. Jerry Kunza, Parcel Identification Number 75-125-2300 Mr. Kunza had 2 Vz acres of residential homestead and purchased an additional 29.5 acres for a total of 32 acres. He now has agricultural classification. He has applied for green acres and it was explained to him that he will get some future tax reductions.