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<br /> <br />DATED: <br />Y <br />. ~~~ ~ <br />~r~~ <br />ALE Dtt <br />~/ $~ ~~ <br />~~ <br />~~ ~c~~.~ <br />May 1, 1995 <br />C'~ <br />' ~~ne Office of the b~ifnesata Tax Court des <br />BY THE COURT, '~---ah~~ e~rtifv ttia± the attached inst2ument <br />~' c^_ t'~•.~ ?7^ (::+ST2Ct CO~v r,{ .fie O21'_1:.:.fil <br />C.. ii .~.` ~y? .c C~tGr'.?7 t~,6.~ r;~~~ <br />i.;^!:iS.'. file A;,.. /`.~. -er=~ <br />~~ r <br />/ <br />Lw.^s:y ewi r'l~irisCatc7 ~J1Tti <br />n~ <br />Dorothy~/A.) McClung, Judge <br />MINNES T TAX COURT <br />MEMORANDIIM <br />This matter was tried in conjunction with three other <br />• <br />petitions filed in Sherburne County. See Cyril G. Lenzmeier v. <br />County of Sherburne, File No. C6-94-628 (Minn. Tax Ct. May 1, <br />1995); and Allan E. Nadeau v. County of Sherburne, File Nos. C6- <br />94-632 and C8-94-633 (Minn. Tax Ct. May 1, 1995). <br />Petitioner is purchasing the subject property from his <br /> <br />father on a contract for deed. He leases the property to Johnson <br />Corporation, a related business organization which operates the <br />property as a retail store selling family apparel. The subject <br />property consists of a 50 ft. by 90 ft. lot in Elk River, <br />Minnesota, improved with a two-story commercial building with a <br />full basement. All three floors are used for retailing. The <br />building was constructed prior to 1920 and is at least seventy- <br />years-old. <br />At trial, Petitioner based his opinion of the value of the <br />subject property on an income approach which he adapted from the <br />income approach developed by Respondent's expert. Petitioner did <br />4 <br />