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<br />. <br /> <br />. <br /> <br />. <br /> <br />MINUTES OF THE ELK RIVER BOARD OF REVIEW <br />HELD AT THE SHERBURNE COUNTY ADMINISTRATION BUILDING <br />WEDNESDAY, APRIL 29, 1992 <br /> <br />MEMBERS PRESENT: Councilmembers Schuldt, Dietz, and Kropuenske <br /> <br />MEMBERS ABSENT: Mayor Tralle and Councilmember Holmgren. Councilmember <br />Holmgren was absent because he is an employee of the <br />Assessor's Office. <br /> <br />STAFF PRESENT: Sandy Thackeray, City Clerk; Ty Bischoff, County Assessor; <br />Jerry Kritzeck, Commercial Assessor; John Cullen, <br />Residential Assessor <br /> <br />Acting Mayor Kropuenske called the meeting to order at 6:00 p.m. Ty <br />Bischoff explained the purpose of the Board of Review meeting which is to <br />review 1992 assessed property valuations. <br /> <br />The following property owners appeared before the Board of Review. <br /> <br />Steve and Diane Bockwitz - 75-518-0220 - $167,800 <br /> <br />Steve Bockwitz stated that his property was originally assessed at <br />$175,500 and after reviewing the situation with the Assessor, the value was <br />decreased to $167,800. ~ Bockwitz explained that prior to building his <br />home, he showed the blue prints to the Assessor and asked for an estimated <br />assessed valuation. The estimated assessed valuation received by the <br />Assessors office was $152,000. Bockwitz stated that the purchase price <br />for the home and land was $157,900. He further stated that he recently had <br />the property appraised by a mortgage company and the appraisal came in at <br />$152,000. He also had a real estate market analysis of the property in <br />April, 1992 that came in at $160,000. He indicated that his market analysis <br />included six comparison sale prices plus assessed property valuations. He <br />indicated that the six comparisons were all sold and were assessed at 92% - <br />94% of the market value. He stated that his complaint is that his property <br />assessed at 105% of the market value based on the real estate market <br />analysis of a $160,000 purchase price. He requested the Board of Review to <br />consider assessing his property in the 95% range of the market value. <br /> <br />John Cullen, County Assessor, reviewed comparable sales in the Brentwood <br />area selling for more than $150,000. He indicated that after assessing <br />Bockwitz's property, he was still within the required margin at 105%. <br /> <br />COUNCI LMEMBER DIETZ MOVED TO REDUCE THE ASSESSED VALUE OF PROPERTY <br />'75-518-0220 TO $163,900 BASED ON THE EVIDENCE PRESENTED BY STEVE AND DIANE <br />BOCKWITZ. COUNCILMEMBER SCHULDT SECONDED THE MOTION. THE MOTION CARRIED <br />3-0. <br /> <br />Gordon Cornelius - 75-432-0236 - $9,000 & 75-432-0234 - $9,000 <br />