HANDOUTS BOA 04-28-2010 - Laserfiche WebLink

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~~ 1 17123 Yale St. NW Elk River, Minn 55330 763 427-2034 Cell 763 438- 6587 April 19, 2010 Local Board of Appeal and Equalization Elk River City Assessor 13880 Business Center Drive Elk River, MN 55330 To whom it may concern: ~i5 i~~9 oai~ This correspondence is to request that the appraised value of our property at 17123 Yale St. NW, Elk River, MN. Be lowered to more accurately reflect the market value of the townhouse. The townhouse sold foreclosed in June 2009 for $178,000. The townhouse sold on the open market, after being listed for three months, for $195,000 in Febniary 2010. I respectfully suggest that this sale represents the market value of the townhouse. Our townhouse is not directly comparable with most of the other townhouses for a couple of reasons. While some rooms in our basement have been framed and sheetrocked the basement is unfinished. Most of our neighbors on Mississippi Ridge have fiiushed basements. Our townhouse does not have a deck. Most of our neighbors do. Further indication of the value of our property is provided by Hanson appraisal Services, PO Box 738, 131 Babcock Blvd W, Delano, MN 55328. On February 17, 2010 they appraised the property to have a value of $196,00 by the sales comparison approach. They further appraised the property by the cost approach to value as being $199,800. l have attached the two most relevant pages of said appraisal. I will be happy to furnish the entire appraisal upon request. For the reasons I have listed I request that the assessed value of 17123 Yale St. NW be lowered to more accurately reflect the open market value the property sold for two months ago. I have sent this appeal b_y letter since my wife and I are currently in Texas and unable to attend the hearing. I look forward to your thoughtful consideration of my request. Sincerely, Harold Boyum " c. Greg Elk River City Assessors Office attachments.