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7. James McComb, a real estate consultant and President of <br />the McComb Group, testified for Petitioner and presented his <br />analysis of the Elk River and Zimmerman trade areas. <br />8. Peter J. Patchin, MAI, CRE, and his associate, Joseph <br />E. Mako, appraised both the Elk River and Zimmerman properties <br />for the Respondent. Mr. Patchin testified that in his opinion, <br />the Elk River property had a value of $200,000 and the Zimmerman <br />property had a value of $75,000 as of January 2, 1993. <br />9. We find the January 2, 1993 fair market value of tree <br />Elk River property to be $185,000 and the fair market value of <br />the Zimmerman property to be $75,000. <br />CONCLUSIONS OF LAW <br />1. The assessor's estimated market value for the subject <br />properties as of January 2, 1993 shall be increased on the books <br />and records of Sherburne County as follows: <br />the Elk River property, from $174,200 to $185,00; and <br />the Zimmerman property, from $65,400 to $75,000. <br />2. Real estate taxes due and payable in 1994 shall be <br />recomputed accordingly and any additional amounts shall be paid <br />by the Petitioner upon receipt of the corrected tax statements. <br />LET JUDGMENT BE ENTERED ACCORDINGLY. THIS IS A FINAL ORDER. <br />A STAY OF 15 DAYS IS HEREBY ORDERED. <br />• <br />3 <br />