HomeMy WebLinkAboutCity Council Packet 04-24-2007 BOEAgenda
City of Plymouth
Board of Appeal and Equalization Reconvened
from April 10, 2007
Tuesday, April 24, 2007
5:30 p.m.
Council Chambers
1. Call to Order
2. Council Action on Recommendations
3. Adj ourn
2007 LOCAL BOARD OF APPEAL & EQUALIZATION
STAFF RECOMMENDATIONS
2007 Estimated Staff
Reports Pin Number Market Value Recommendation
Oral Presentations
1.Donald/Colleen
Stauffenecker
21 Curt Swanson
33-118-22-23-0021 320,000 315,000
09-118-22-23-0021 235,000 No Change
09-118-22-23-0057 131,000 80,000
09-118-22-23-0058 131,000 80,000
09-118-22-23-0059 131,000 80,000
09-118-22-23-0060 131,000 80,000
09-118-22-22-0012 235,000 No Change
09-118-22-22-0013 235,000 No Change
09-118-22-22-0014 235,000 No Change
09-118-22-22-0015 235,000 No Change
09-118-22-22-0019 200,000 No Change
09-118-22-22-0020 200,000 No Change
09-118-22-22-0022 200,000 No Change
09-118-22-22-0023 200,000 No Change
09-118-22-22-0024 200,000 No Change
09-118-22-23-0079 200,000 No Change
09-118-22-23-0082 200,000 No Change
09-118-22-22-0026 200,000 No Change
09-118-22-22-0027 200,000 No Change
09-118-22-22-0033 180,000 No Change
09-118-22-22-0034 180,000 No Change
09-118-22-22-0035 180,000 No Change
09-118-22-22-0036 180,000 No Change
09-118-22-22-0037 200,000 No Change
09-118-22-22-0038 200,000 No Change
09-118-22-23-0083 S131,000 No Change
09-118-22-23-0084 131,000 No Change
09-118-22-23-0085 131,000 No Change
09-118-22-23-0086 131,000 No Change
09-118-22-23-0089 131,000 No Change
09-118-22-23-0090 131,000 No Change
09-118-22-23-0091 131,000 75,000
09-118-22-23-0092 131,000 75,000
09-118-22-23-0093 131,000 75,000
09-118-22-23-0095 131,000 75,000
09-118-22-23-0096 131,000 75,000
09-118-22-23-0097 131,000 75,000
09-118-22-23-0098 131,000 No Change
09-118-22-23-0099 131,000 No Change
09-118-22-23-0100 131,000 No Change
09-118-22-23-0103 131,000 No Change
09-118-22-23-0104 131,000 No Change
09-118-22-22-0030 $180,000 No Change
09-118-22-22-0031 $180,000 No Change
3) Mary Restrepo 17-118-22-44-0004 $668,300 $638,300
4) Peter Tysdal 24-118-22-32-0008 $446,700 No Change
5) Hongyi Duan 17-118-22-12-0044 $392,700 No Change
WRITTEN PRESENTATIONS
1) Robert/Jacqueline Kohns 10-118-22-11-0015 542,800 No Change
2) Darrell Grauvitte 01-118-22-31-0001 120,000 No Change
01-118-22-31-0017 444,900 No Change
3) Todd Ringliouse 31-118-22-42-0026 883,000 795,100
4) Chris Swingley 23-118-22-43-0005 569,600 544,600
5) Shawn Shrawney
Twila Keim 14-118-22-23-0017 607,600 550,000
6) Nate Nelson/Sara Fletcher 17-118-22-44-0049 552,600 522,600
7) H.I. Enterprises, INC 22-118-22-32-0018 1,277,000 No Change
8) Clinton Asche 30-118-22-13-0024 359,800 335,700
9) Habib Tajik 15-118-22-22-0018 605,300 528,000
IO)Debra Larson 06-118-22-31-0003 600,600 No Change
ORAL PRESENTATION #1
2007 BOARD OF APPEAL & EQUALIZATION
STAFF REPORT AND RECOMMENDATION
PROPERTY OWNERS NAME: Donald & Cullen Stauffenecker
PROPERTY ADDRESS: 15510 6'h Ave. N
PID #: 33-118-22-23-0021
LEGAL DESCRIPTION: Lot 20 Block 2 Homedale Manor
PROPERTY TYPE: Residential Single Family
2007
MARKET VALUE.
LAND MARKET VALUE
STRUCTURE MARKET VALUE
TOTAL MARKET VALUE
VALUE PRIOR TO ASSESSOR'S
No
23:
31'
ASSESSMENT HISTORY 2005 2006 2007
Total Market Value 258,900 $281,300 $320,000
Limited Market Value
Improvement
n
Subject Location Map
SALES COMPARISON ADJUSTMENT GRID
Subject Comparable #1 Comparable #2 Comparable #3
ADDRESS: 15510
6'h Ave. N.
17310
14" Ave. N.
2715
Olive Ln. N.
2430
Olive Ln. N.
PID# 33-118-22-23-
0021
29-118-22-33-
0015
19-118-22-44-
0023
30-118-22-11-
0017
SALE DATE:
Dec- 05 May- 06 May- 06
SALE PRICE:
TIME
ADJUSTMENT:
ADJ.SALE PRICE:
300,000
5100
305.100
300,000
2400
302,400
305,500
2440
307,940
TYPE OF BLDG: Split Split Split Split
ABOVE GRADE
FINISH 1191 1100 1190 1508 (14265)
QUALITY; Avg Avg - Avg - Avg -
AGE: 1966 1970 (6102) 1969 (4536) 1963 4619
CONDITION: Good Good - Excel (5000) Excel (5000)
BEDROOMS: 4 4 - 3 +3000 4 -
OF BATHS 2 2 - 2 - 2
FIN. BSMT. AREA: 874 1100 (5650) 896 (550) 438 +10900
WALKOUT: Yes No +5000 Yes Yes -
FIREPLACES: 1 2 (5000) 1 I -
GARAGE: 3 2 +120002 12000 2 +12000
DECK: No Yes (6000) Yes (6000) Yes (6000)
PORCHES: Yes No +12000 No 12000 No +12000
POOL:
LOCATION:
NET ADJUSTMENT: 6248 10914 11254
ADJ SALE PRICE: 311,348 315,314 319,194
ADJ SALE /SQ FT:
315,000
1. V 1VIrAKADIA
COMPARABLE #1
17310 14`h Ave. N.
COMPARABLE#3
23430 Olive Ln. N
COMPARABLE #2
2715 Olive Ln N
COMPARABLE #1
This sale was chosen for its similar style, size and age of sale. It received the least
amount of adjustment and is with in a reasonable distance from the subject
property in a similar neighborhood with similarly constructed homes.
COMPARABLE #2
This comparable is located in the nearby subdivision of Candlelight Terrace. The
property is of similar size, style and age to the subject property and is a recent sale.
COMPARABLE #3
This comparable was chosen for it's recent sale, similar age and style as the subject
property. It is located in the neighboring subdivision of Cross V that consist of
housing of a similar kind and quality as Homedale Manor.
VALUE CONCLUSION
LOCATION: The property is located at the intersection of Ranchview Lane
North and 6th Avenue in the Homedale Manor subdivision. It is well protected from
Vicksburg Lane. and Gleason Lake Drive traffic noise. This neighborhood was
established in the mid to late 1960s and is with in a one block walking distance to
Birchview Elementary School and two blocks to Wayzate Central Middle School.
SITE: The home is situated on a typical 110 x 186 corner lot. The area is generally
flat with drainage enhanced by the recent curb and gutter improvements in the
area. There are several desiduous trees on the lot that provide shade to the dwelling.
IMPROVEMENTS and FEATURES: The site has been improved with an
1,191 square foot slit entry home in 1966. The home was further improved with a 13
x 17 screen porch, a 12 x 20 addition to the garage and 5 x 8 covered stoop in 1996.
The home has been adequatly maintained with new siding, furnace, and air
conditioning.
OWNERS CONCERNS: The homeowners are concerned about the increase in
value from 2006 to 2007 assessment. They don't believe the market would support a
40,000 increase in the face of the current market correction.
RECONCILATION OF VALUE: The increase in the 2007 assessment that
the homeowners are appealing was due in large part to the quintile review
performed in Homedale Manor in the summer of 2006. At that time many homes
were increased to keep pace with the recent sales and to reflect condition and
unrecorded improvements. The average increase in this subdivision from 2006 to
2007 was 11.9%. The subject property increased 13.8%, other properties in the
neighborhood increased as little as 5.7 %. The range of increases reflects observed
condition and characteristics as well as qualified sales. appraisal basis and not an
This property was compared to recent sales and those recent sales were adjusted to
reflect the characteristics and appointments of the subject property. Based on the
information contained in this report it is the opinion of this appraiser that the value
be lowered to:
315,000
Michael Vanderl-inden CMA
Appraiser
763-509-5356
mvanderl&i.plymouth.mn.us
CITY OF PLYMOUTH
LOCAL BOARD OF APPEAL AND EQUALIZATION
April 10, 2007 @ 5:30 PM
The primary focus of the Local Board of Appeal and Equalization is to consider the
estimated market value and/or classification for the 2007 assessment for taxes payable in
2008. The Board is not empowered to adjust taxes.
Name
Address: / S S /0 — /„ —P—k
How can we reach you: Please list your telephone numbers:
Howe Cell
S
Purchase Price: Purchase Date: T - /%1 IF
Is the property currently for sale? An If yes, what is the asking price?
Please list any improvements made to yowl property since your
2007 Estimated Market Value (from your valuation notice) 0 _ cJ 00
2006 Estimated Market Value (from your valuation notice) /A =»
Owner's opinion of value Z22&21
Your appeal must be based on evidence that the 2007 estimated market value exceeds the
true market value of your property. Please list the reasons why you believe that you
could not sell your property for the value stated on your 2007 valuation notice. Please
attach any documentation to support your opinion. To reserve your right to appeal,
please speak to a staff appraiser as soon as possible and then return this form to the
Plymouth Assessor's
office
no later than Friday, April 6/ /
zz-? ,(9 s "P; J o iiiJ r
vc AFIIPi t z L
Do you wish to ver ally address the Board? es No
Plymouth Assessing Division
3400 Plymouth Blvd.
Plymouth, MN 55447
763-509-5360
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Comparable Sales Map
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ORAL PRESENTATION #2
2007 BOARD OF APPEAL & EQUALIZATION
STAFF REPORT AND RECOMMENDATION
PROPERTY OWNERS NAME: Curtis E Swanson
DESCRIPTION: Remaining Vacant Lots in the Seven Greens
Addition
PROPERTY TYPE: Vacant Land Residential
PIN NUMBER
VALUE PRIOR TO
LOCAL BOARD
ASSESSOR'S
RECOMMENDATION
09-118-22-23-0021 235,000 No Change
09-118-22-23-0057 131,000 80,000
09-118-22-23-0058 131,000 80,000
09-118-22-23-0059 131,000 80,000
09-118-22-23-0060 131,000 80,000
09-118-22-22-0012 235,000 No Change
09-118-22-22-0013 235,000 No Change
09-118-22-22-0014 235,000 No Change
09-118-22-22-0015 235,000 No Change
09-118-22-22-0019 200,000 No Change
09-118-22-22-0020 200,000 No Change
09-118-22-22-0022 200,000 No Change
09-118-22-22-0023 200,000 No Change
09-118-22-22-0024 200,000 No Change
09-118-22-23-0079 200,000 No Change
09-118-22-23-0082 200,000 No Chance
09-118-22-22-0026 200,000 No Change
09-118-22-22-0027 200,000 No Change
09-118-22-22-0033 180,000 No Change
09-118-22-22-0034 180,000 No Change
09-118-22-22-0035 180,000 No Chang
09-118-22-22-0036 180,000 No Change
09-118-22-22-0037 200,000 No Change
09-118-22-22-0038 200,000 No Change
09-118-22-23-0083 131,000 No Change
09-118-22-23-0084 131,000 No Change
09-118-22-23-0085 131,000 No Change
09-118-22-23-0086 131,000 No Change
09-118-22-23-0089 131,000 No Change
09-118-22-23-0090 131,000 No Change
09-118-22-23-0091 131,000 75,000
09-118-22-23-0092 131,000 75,000
09-118-22-23-0093 131,000 75,000
09-118-22-23-0095 131,000 75,000
09-118-22-23-0096 131,000 75,000
09-118-22-23-0097 131,000 75,000
09-118-22-23-0098 131,000 No Change
09-118-22-23-0099 131,000 No Change
09-118-22-23-0100 131,000 No Change
09-118-22-23-0103 131,000 No Change
09-118-22-23-0104 131,000 No Change
09-118-22-22-0030 180,000 No Change
09-118-22-22-0031 180,000 No Change
ASSFSSMFNT HISTnRV
PIN NUMBER
EMV 2005
Limited Market Value
Plat Law
EMV 2006
Limited Market Value
Plat Law
EMV 2007
Limited Market Value
Plat Law
09-118-22-23-0021 115,000 115,000 235,000
109,200 154,600
09-118-22-23-0057 105,000 105,000 131,000
97,700 120,700
09-118-22-23-0058 105,000 105,000 131,000
97,700 120,700
09-118-22-23-0059 105,000 105,000 131,000
97,700 120,700
09-118-22-23-0060 105,000 105,000 131,000
97,700 120,700
09-118-22-22-0012 92,200 136,100 235,000
180,000 180,000
09-118-22-22-0013 92,200 136,100 235,000
180,000 180,000
09-118-22-22-0014 92,200 136,100 235,000
180,000 180,100
09-118-22-22-0015 92,200 136,100 235,000
180,000 180,100
09-118-22-22-0019 92,200 136,100 200,000
180,000 180,100
09-118-22-22-0020 92,200 136,100 200,000
180,000 180,100
09-118-22-22-0022 92,200 136,100 200,000
180,000 180,100
09-118-22-22-0023 92,200 136,100 200,000
180,000 180,100
09-118-22-22-0024 92,200 136,100 200,000
180,000 180,100
09-1i8-22-23-0079 92,200 136,100 200,000
180,000 180,100
09-118-22-23-0082 92,200 136,100 200,000
180,000 180,100
09-118-22-22-0026 92,200 136,100 200,000
180,000 180,100
09-118-22-22-0027 92,200 136,100 200,000
180,000 180,100
09-118-22-22-0033 92,200 136,100 180,000
180,000 180,100
09-118-22-22-0034 92,200 136,100 180,000
180,000 180,100
09-118-22-22-0035 92,200 136,100 180,000
180,000 180,100
09-118-22-22-0036 92,200 136,100 180,000
180,000 180,100
09-118-22-22-0037 92,200 136,100 200,000
180,000 180,100
09-118-22-22-0038 92,200 136,100 200,000
180,000 180,100
09-118-22-23-0083 42,500 58,700 131,000
75000 75,000
09-118-22-23-0084 42,500 58,700 131,000
75000 75,000
09-118-22-23-0085 42,500 58,700 131,000
75000 75,000
09-118-22-23-0086 42,500 58,700 131,000
75000 75,000
09-118-22-23-0089 42,500 58,700 131,000
75000 75,000
09-118-22-23-0090 42,500 58,700 131,000
75000 75,000
09-118-22-23-0091 42,500 58,700 131,000
75000 75,000
09-118-22-23-0092 42,500 58,700 131,000
75000 75,000
09-118-22-23-0093 42,500 58,700 131,000
75000 75,000
09-118-22-23-0095 42,500 58,700 131,000
75000 75,000
09-118-22-23-0096 42,500 58,700 131,000
75000 75,000
09-118-22-23-0097 42,500 58,700 131,000
75000 75,000
09-118-22-23-0098 42,500 58,700 131,000
75000 75,000
09-118-22-23-0099 42,500 58,700 131,000
75000 75,000
09-118-22-23-0100 42,500 58,700 131,000
75000 75,000
09-118-22-23-0103 42,500 58,700 131,000
75000 75,000
09-118-22-23-0104 42,500 58,700 131,000
75000 75,000
09-118-22-22-0030 92,200 136,100 180,000
180,000 180,000
09-118-22-22-0031 92,200 136,100 180,000
180,000 180,000
COMPARABLE #1 In August 2006 a side-by-side townhome lot sold in Pike Lake Woods in
Plymouth. There were two Certificates of Real Estate Value generated at the closing. One was for
the land only at $95,000 and the other was for the newly constructed home (including the lot) at
429,035. This is a very typical 22% ratio. Pike lake woods is the only other development in
Plymouth where CVs are created for the lot purchase. The bulk of this subdivision was developed
in 2001-2002 with lot to building ratios at 24-26%. The lot prices have remained constant since
then but the ultimate selling price has increased.
COMPARABLE #2 Bridgeport subdivision is a comparable development in Plymouth that is
currently under construction and has recent lot and home sales. The subdivision has 9 lots of
which, one is an existing home. The lots and the homes are of similar size and quality as the single
family subject properties. There were two lot sales in Jan 2006 one at $242,000 and the second at
222,000. Additionally, there were two new construction sales (includes land and building) that
occurred in April of 2006. One at S866,200 and the other at $868,000. The averaged ratio of land
to building for these sales is 26%
COMPARABLE #3 There are some comparable lots available in comparable neighborhoods
with comparable builder restrictions currently for sale. Rusten Woods has 19 lots for sale that
range in size from 0.41-0.94 acres and range in price from $489,9004769,900. The upper end of
that range includes the lakeshore lots. Also, Taryn Hills has 9 single family lots that are 0.30 acres
for sale at $275,000 with limited home designs. Executive Woodlands is offering 9 single family
lots with a package price range of 1-2.5 million. Those lots were listed for sale in Sept. 2006 at
S329,9004369,900. This would indicate a ratio of 15-33%
VALUE CONCLUSION
LOCATION: The subject properties are situated in the Seven Greens
neighborhood at the northeast quadrant of the intersection of Schmidt Lake Road
and Vicksburg Ln N. The development is a mix of mid to upper bracket single
family homes and exclusive twin homes centered around parks and common areas.
HISTORY: The first phase of Seven Greens was platted in 2001 and the second
phase in 2004. As of 2007 all remaining lots receiving valuation under the Plat Law
were phased out. Plat Law is a state law that allows developers to pay property tax
on a reduced value for a maximum of three years from the time the plat is approved
or until the lot sells or until the full value is phased in after the three years. The full
or market value of the lot is established by the appraiser based on sales of like or
similar lots and by allocation of value to land and building. The standard allocation
of value to land for high caliber twin home or side-by-side townhomes is generally
accepted as 15-20% of the total sales price of an improved lot. This standard is
supported the City Assessing staff and the independent sources listed below The
standard allocation of value to land for single family lots in a development is slightly
higher at 20-25%.
The appraisal underwriters of Wells Fargo, Bell Mortgage, CTMT (formerly
Towle) and the appraisal firm The Appraisal Group.
OWNERS CONCERNS: The developer and owner is concerned that the
estimated market value of the undeveloped lots is higher that what he is currently
marketing and selling them for.
RECONCILATION OF VALUE: From recent sales and the published prices
of vacant lots the range of land to building ratios in Seven Greens for single family
sales including the lot are 13-19% and for twin homes are 10-12%. Every effort has
been made to ensure that the method and math used to establish the Estimated
Market Value of the vacant lots owned by the developer are consistant with the
usual and customary practices used in all similar circumstances. This appraiser and
the Staff are recommending adjusting the vacant RZ or twinhome lots located along
Vicksburg Ln. to 575,000 and along Schmidt Lake Road to $80,000 (see exhibit)
and further recommend no change to all other vacant lots.
Gt.;/ (%l
Michael VanderLinden
Apprasier
763-509-5356
mvanderl@ci.plyinouth.rnn.us
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CITY OF PLYMOUTH
LOCAL BOARD OF APPEAL AND EQUALIZATION
April ]0,2007 rt 5:301'M
The primary focus of the Local Board of Appeal and Equalization is to consider the
estimared market value and/or cla_csiflcation for the 2007 assessment for taxes payable in
2008. The Board is not empowered to adjust taxes.
Namc__.._j!iC.uM !:Wr<rr 5t5tj
Address:
How can we reach you: Please list your telephone numbers:
Home Work7—q?9-0320 CclI2_3`83Sc_ _Et
Purchase Price: csele A40r—(I-aa Purchase Date-
Is the property currently for sale? If yes, what is the asking price?
Please list any improvements made to your property since your purchase:
2007 Estimated Market Value (from your valuation
2006 Estimated Market Value (from your valuation
Owner's opinion of value
Your appeal must be based on evidence that the 2007 oatimatad market value exceeds the
true market value of your property. Please list the reasons why you believe that you
could not sell your property for the value stated on your 2007 valuation notice. Please
attach any documentation to support your opinion. To reserve your right to appeal,
please speak to a staff appraiser as soon as possible and then retun) this form to the
Plymouth Assessor's office no later than Friday, April 6, ,
ST
Do you wish to verbally address the Board? If c!s)' No
Plymouth Assessing Division
3400 Plymouth Blvd_
Plymouth, MN 55447
763.509-5360
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HOMES
1360 Hamel Road • Medina, MN 55340 • ?63-478-0320 - Fax 763478-0321
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1, u01 " I rte • _._ -1WHINnUfN NLl'IMb Y b4ndnObO
SEVEN GREENS • ASSED VALUATION
NU. 61H L)02
DATE 2007 DEFERRED 2008 DIFFERENCE
LOT/BLOCK ADD. ADDRESS SOLD SALE PRICE PAYABLE PLATTED IAN PAYABLE
5/4 1 15500 - 51 st Avenue N 185,000.00 115,000.00 235,000.00 50,000.00
4/5 1 5030 Shenandoah Lane 190.000.00 115,000.00 143,000.00 47,000.00)
119 1 15838 - 50th Avenue N 85,000.00 110.000.00 247,200.00 182,200.00
4/10 1 15853 - 50th Avenue N 55,000.00 105,000-00 232,700.00 177,700.00
10110 1 15817 - 50th Avenue N 55,000.00 105,000-00 131,000.00 66,000.00
11110 1 15813 -50th Avenue 65,000,00 105,000-00 131,000.00 66,000.00
12/10 f 15807 - 50th Avenue N 65,000.00 105,000.00 131,000.00 56,000.00
13/10 1 15803 -50th Avenue 65,000.00 105,000.00 131,000.00 66,000.00
1/1 215710 52nd Avenue N. 210,000.00 136,100.00 180,000.00 235,000.00 25,000.00
2/1 2 15700 -52nd Avenue N. 210,000,00 136,100.00 180.000.00 235,000.00 25,000.00
3/1 2 5230 Terraceview Lana 210,000.00 136,100.00 180,000.00 235,000-00 25,000.00
411 2 5220 Terraceview Lane 225,000.00 136,100.00 180.000.00 235,000.00 10,000.00
5/1 2 5210 Terraceview Lane 225,000.00 136,100,00 180,000.00 235,000.00 10,000.00
6/1 2 5200 Terraceview Lane 235,000.00 136.100.00 180,000.00 235,000.00 0.00
1/2 2 5120 Terraceview Lane 240,000.00 136,100,00 180,000.00 235,000.00 5,000.00)
212 2 5110 Terraceview Lane 240,000.00 136.100.00 180,000.00 235,000.00 5,000.00)
1/3 2 5215 Terraceview Lane 160,000.00 136.100.00 100,000.00 200,000.00 40,000.00
213 2 5145 Terraceview Lane 185,000.00 136,100.00 180,000.00 200,000.00 15,000.00
4/3 2 15720 - 51st Place N. 160,000.00 136,100 00 180,000.00 200,000.00 40,000.00
513 2 15730-51 st Place N. 160,ODO.00 136,100.00 180,000.00 200.000.00 40,000.00
613 2 5200 Upland Lane N. 20D,000.00 136,100.00 180,000.00 200,000.00 0.00
214 2 15715-51 st Place N. 170,000.00 136,100.00 180,000.00 200,000.00 30,000,00
514 2 5130 Upland Lane N. 170.000.00 136,100.00 180,000.00 200,000.00 30.000.00
115 2 15730 - 52nd Avenue N. 140,000.00 136,100,00 180,000.00 200,000.00 60,000.00
215 215740 52nd Avenue N. 130,000.00 136,100.00 180,000.00 200,000,00 70,000.00
815 2 5185 Upland Court N. 140,000.00 136,100,00 180,000.00 180,000.00 40,000.00
915 2 5175 Upland Court N. 140,000.00 135,100.00 180,000.00 180,000.00 40,000.00
10/5 2 5165 Upland Court N. 140,000.00 136,100.00 160,000.00 180,000.00 40,000.00
11/5 2 5155 Upland Court N. 140,000.00 136,100.00 180,000.00 180,000.00 40,000.00
1215 2 5145 Upland Court N. 150,000.00 136,100.00 180,000.00 200,000.00 50,000.00
1315 2 5135 Upland Court N. 160,000.00 136,100.00 180,000.00 200,000.00 40,000.00
116 2 15710. 50th Place N. 70,000.00 58,700.OD 75,000,00 131,000.00 61,000.00
216 2 15714 -50th Place N. 80,000.00 58,700.00 75,000.00 131,000,00 51,000.00
316 2 15720 -50th Place N. 75,000.00 58,700.00 75.000.00 131,000,00 56,000.00
4/6 2 15724 - 50th Place N, 75,000.00 58,700-00 75,000.00 131,000.00 56.000.00
2/7 2 15804 - 50th Place N. 75,000.00 131,000.00 56,000.00
3/7 2 15810 -50th Place N. 80,000.00 58,700.00 75,000.00 131,000.00 51,000.00
417 2 15814 - 50th Place N. 70,000.00 58,700-00 75,000.00 131.000.00 61,000.00
517 2 15820 - 50th Placa N, 60,000.00 58,700.00 75,000.00 131,000.00 71,000.00
617 2 15824 -50th Place N. 60,000.00 58,700.00 75,000.00 131,000.00 71,000.00
717 2 f5B30-50th Placa N. 60,000.00 58,700.00 75,000,00 131,000.00 71,000.00
817 2 15834 -50th Place N. 60.000.00 58,700.00 75,000,00 131,000.00 71,000.00
917 2 15829 - 50th Place N. 60,000.00 58,700.00 75,000,00 131,000.00 71,000.00
1017 2 15825 -50th Place N, 60,000.00 58,700.00 75,000.00 131,000.00 71,000.00
1117 2 15819 -50th Place N. 70,000.00 58,700.00 75,000.00 131,000.00 61,000.00
1717 2 15815 -50th Place N. 80,000.00 58,700,00 75.000.00 131,000.00 51,000.00
1317 2 15809 -50th Place N. 90,000.00 58,700.00 75.000.00 131,000.00 41,000.00
1417 2 15805. 50th Place N. 100,000.00 58,700.00 75,000.00 131,000.00 31,000.00
116 2 15715 - 50th Place N. 90.000.00 58,700.00 75,000.00 131,000.00 41,000,00
318 2 15725 -50th Placa N. 110,000.00 8,700.00 75.000.00 131,000.00 21,000.00
418 2 15729 - 50th Place N. 110,000.00 58,700.00 75,000.00 131,000.00 21,000.00
TOTAL 6,450,000.00 5,110,600.00 5,565,000.00 8,601,900.00 2,351,900.00
2,3
ORAL PRESENTATION #3
2007 BOARD OF APPEAL & EQUALIZATION
STAFF REPORT AND RECOMMENDATION
PROPERTY OWNERS NAME: Mary Restrepo
PROPERTY ADDRESS 3690 Weston Ln N
PID #: 17-118-22-44-0004
LEGAL DESCRIPTION: Lot 1 Block 2 Sugar Hills
PROPERTY TYPE: Residential Single Family
2007
MARKET VALUE
VALUE PRIOR TO
LOCAL BOARD
ASSESSOR'S
RECOMMENDATION
LAND MARKET VALUE 154,000 154,000
STRUCTURE MARKET VALUE 514,300 484,300
TOTAL MARKET VALUE 668,300 638,300
ASSESSMENT HISTORY 2005 2006 2007
Total Market Value 583,400 638.300 5668,300
Liinited Market Value
Improvement
SUBJECT PROPERTY
DIAGRAM
46.9 s
T
44
10
11.0 31.9
EE96J69.1
12.9
5
24 GARAG§2.1
Sty Ht Sq Ft
I/B 2,289
OH 31
Ground Fl. Area 2.320
GBA 2,320
Deck 180
OP 66
Garage 744
17113 22440)04
36'Cj WESTON Ll',J NT'I
4
SALES C01IPA RISON ADJUSTMENT GRID
Subject Comparable #1 Comparable #2 Comparable #3
ADDRESS: 3690
Weston La
N
400 Rainer La N 16215 37" Ave N 3650 Yuma La N
PID# 17-118-22-
44-0004
19-118-22-12-0005 17-118-22-44-0057 17-118-22-44-0032
SALE DATE: NA Jan 06 Nov 06 Jun 06
SALE PRICE:
TIME ADJUSTMENT:
ADJ.SALE PRICE:
605,000 725,000 655,000
26,2009,075
614,075 725,000 681,200
ADJ.SALE/SQ FT: 260.98 316.04 262.91
TYPE OF BLDG: Rambler Rambler Rambler Rambler -
ABOVE GRADE
FINISH 2320 2353 2294 - 2591 (27100)
QUALITY; Excel Ab Avg +5000 Ab Avg +5000 Ab Avg +5000
AGE: 1997 1993 +12282 1996 - 1995 -
CONDITION: Excel Excel Avg 10000 Avg 10000
BEDROOMS: 4 4 5 (3000) 4 -
OF BATHS 4 4 5 (3000) 3 +3000
FIN. BSMT. AREA: 1800 2041 (26645) 2054 (26890) 2122 (8000)
WALKOUT: Yes Yes Yes - No +5000
FIREPLACES: 2
i
2 3 (5000) 3 -
CARAGE: 3 Car Car 3 Car 3 Car
DECK: Yes Yes - Yes - Yes -
PORCHES: No No GP (18000) GP (18000)
NET ADJUSTMENT: 9363) 40890) 35,150)
ADJ SALE PRICE: 604,712 684,110 646,050
ADJ SALE /SQ FT: 256.99 298.22 249.34
INDICATED VALUE AS OF JANUARY 2,2007:
5638,300
COMPARABLE SALES
COMPARABLE#1 COMPARABLE 92
3400 Rainer La N 16215 37" Ave N
COMPARABLE #3
3650 Yuma Ln. N.
LOCATION:
neighborhood
homes.
VALUE CONCLUSION
Property is located in upscale single family residential
It is similar in quality and amenitites as the surrounding
SITE: The site conforms to the neighborhood feel and has strong curb
appeal. It is typical in size and topography with the surrounding lots.
IMPROVEMENTS and FEATURES: The site is improved with a single
family dwelling built in 1997. It features fine craftsmanship with lots of
built-ins, niches, nooks and a deck.
OWNERS CONCERNS: The owner is a real estate agent and feels that the
market is in a downward spiral when looking at homes that have currently
sold and are listed.
RECONCILATION OF VALUE: The comparables indicate that the
estimated market value should be adjusted downward based on the property
owners comparables as well as the the comparables used in this report. It is
the opinion of this appraiser and agreed upon by the homeowner that the
2007 estimated market value shoud be;
638,300
J tl A
Michael VanderLinden CMA
Appraiser
763)509-5356
mvanderl&i.plymouth.mn.us
CITY OF PLYMOUTH
LOCAL BOARD OF APPEAL AND EQUALIZATION
April 10, 2007 @ 5:30 PM
The primary focus of the Local Board of Appeal and Equalization is to consider the
estimated market value and/or classification for the 2007 assessment for taxes payable in
2008. The Board is not empowered to adjust taxes.
Name
l
Address: .36 91 Z) W e s 7—D A) 4— 10 A /`t/v Q s—>LN,—
How can we reach you: Please list your telephone number:
Home 9b 3 476 — lIP24 Work 1-474 - SAF/3 Cell & i z - 70 3 - 73 34
Purchase Price: S/ 447 r Purchase Date: -.litn.&3
Is the property currently for sale?may If yes, what is the asking price?
Please list any improvements made to your property since your purchase:
N0N<,
2007 Estimated Market Value (from your valuation notice) G (or, 3°v
2006 Estimated Market Value (from your valuation notice) Vir , 3 o u
Owner's opinion of value 7,V j v o
Your appeal must be based on evidence that the 2007 estimated market value exceeds the
true market value of your property. Please list the reasons why you believe that you
could not sell your property for the value stated on your 2007 valuation notice. Please
attach any documentation to support your opinion. To reserve your right to appeal,
please speak to a staff appraiser as soon as possible and then return this form to the
Plymouth Assessor's office no later than Friday, April 6.
Do you wish to verbally address the Board? Yes No
Plymouth Assessing Division
3400 Plymouth Blvd.
Plymouth, MN 55447
763-509-5360
ORAL PRESENTATION #4
2007 BOARD OF APPEAL & EQUALIZATION
STAFF REPORT AND RECOMMENDATION
PROPERTY OWNERS NAME: Peter Tysdal
PROPERTY ADDRESS: 3015 E. Medicine Lake Boulevard
PID #: 24-118-22-32-0008
LEGAL DESCRIPTION: And Sub 333 Long Legal
PROPERTY TYPE: Residential Lakeshore
2007
MARKET VALUE
VALUE PRIOR TO ASSESSOR'S
LOCAL BOARD RECOMMENDATION
LAND MARKET VALUE 367,000
STRUCTURE MARKET VALUE 79,700
TOTAL MARKET VALUE 446,700 No Change
ASSESSMENT HISTORY 2005 2006 2007
Total Market Value 370,800 375,100 446,700
Limited Market Value 268,200 308,400 354,600
Improvement 0 0 0
SUBJECT PROPERTY
Sty Ht Dimensions Sq Ft
1/B 20 x 16 = 320
11/4B 26 x 18.5 = 468
Second Fl. Area = 788
Ground Fl. Area = 117
Gross Bldg Area = 1,256
15
19S GARAG MT
Deck 15 x 16 =
17 x 8 =
10 x 16 = 544
GBsmt 26 x 14.5 261
Diagram
16 <,
10 DECK 15 6
Ird 20
26 t1 t1/W
Subject Location Map
LOCATION:
The property is located on the east side of Medicine Lake. The subject, and
one other property, is tucked below E. Medicine Lake Boulevard directly on
the shoreline.
SITE:
The site is unusual due to its close proximity to E. Medicine Lake
Boulevard. There is little room for parking on the street level. The property
is accessed by stairs leading down the bank.
IMPROVEMENTS and FEATURES:
The property is improved with a cabin built in 1938. The condition of the
property is unknown since there has not been an interior inspection in over
20 years at the request of the owner. There is decking overlooking the lake.
OWNERS CONCERNS:
Mr. Tysdal is concerned about the increase in value over the last few years.
He believes the value is too high based on comparables.
RECONCILATION OF VALUE:
Mr. Tysdal addressed the 2007 Local Board of Appeal and Equalization
regarding his Estimated Market Value. He had left a message in our office
at the end of the day right before the Board convened. He was contacted the
following morning (April 11) to set up an appointment for an interior
inspection. During the conversation he was told that his property value
could be too high, but with an inspection it was difficult to determine. He
stated he was against anyone entering his property and requested the statutes
referring to the right of review. A copy of the statutes is included in this
report. He was informed that without an interior inspection there would be
no consideration of value reduction. According to statute 274.01 there will
be no change in valuation. Mr. Tysdal was asked to notify me by
Wednesday, April 18, if he should change his mind regarding an onsite
inspection.
A letter was received in our office April 18 from Mr. Tysdal stating that he
still refused entry to his property. A call was made and he was informed
that statute 274.01 explicitly states that upon appearing at the Local Board
of Appeal and Equalization "the board may not make an individual market
value adjustment or classification change that would benefit the property if
the owner or other person having control over the property has refused the
assessor access to inspect the property and the interior of the building or
structures as provided in section 273.20". The value remains unchanged at:
446,700
Janice Olsson AMA, RES
Appraiser Supervisor
763-509-5355
jolsson(a'Ci. plymouth.In. us
CITY OF PLYMOUTH
LOCAL BOARD OF APPEAL AND EQUALIZATION
April 10, 2007 cd 5:30 I'M
file primary focus of the Local Board of Appeal and Equalizatiou is to consider the
estimated market value and/or classification for the 2007 assessment for taxes payable in
2008. The Board is not empowered to adjust taxes.
Name
Address: 3c IS C-
How can we reach you: Please list your telephone numbers:
Home2_LSI/Y---1l29 Work _Cell_
Purchase Price: .1'/1 2 d Purchase Date: /`j 757
is the property currently Por sa e? / If yes, what is the asking price?
Please list any improvements made to your property since your purchase:
Ir
2007 Estimated Market Value (from your valuation notice) [j / 766,
2006 Estimated Market Value (from your valuation notice) 375,. /C c .4
Owner's opinion of value fr t ,•Sti c , . i _
Your appeal must be based on evidence that the 2007 estimated market value exceeds the
true market value of your property. Please list the reasons why you believe that you
could not sell your property for the value stated on your 2007 valuation notice. Please
attach any documentation to support your opinion. To reserve your right to appeal,
please speak to a staffappraiser as soon as possible and then return this form to the
Plymouth Assessor's office no later than Friday, April 6.
Do you wish to verbally address the Board? ; Y- No
Plymouth Assessing Division
3400 Plymouth Blvd.
Plymouth, MN 55447
763-509-5360
Add improvements to the assessment list In reviewing
the individual assessments, the board may find instances
where property is not listed at its market value because
the value of a building or other improvement was not
included when the market value of the property was
estimated. These should be carefully reviewed by the
board and placed on a tentative list of property values to
be increased. The board should then determine to what
extent the valuation of such property should be
increased. Before the board adds value for new or
overlooked improvements, it must notify, the owner.
Change the classification of a property. In
Minnesota, property is classified according to its use
on the assessment date (January 2 of each year). If the
property is not currently being used, it is classified
according to its most probable, highest and best use.
Property owners do not get to choose or request how
they want their property to be classified. It is the
assessor'sjob to classify it according to its current use
or its most probable, highest and best use. The board
can change the classification of any property which in
the board's opinion is not properly classified. Again, it
is assumed that the assessor has classified the property
correctly. The classification must be based on use, and
in order for the board to change the classification, the
appellant must present evidence that the property is
used in a manner consistent with the classification. For
example, the assessor classified the property as
residential. The owner seeks the agricultural
classification. In order for the board to change the
classification to agricultural, the owner must prove
that the property is used agricultumlly and meets the
statutory requirements of the agricultural class.
What the board can't do
The local board can't consider prior year assessments.
The Local Board of Appeal and Equalization doesn't
have the authority in any year to reopen former
assessments on which taxes are due and payable. The
board considers only the assessments that are in process
in the current year. Occasionally, a property owner may
appear with a tax statement and protest the taxes or
assessment of the previous year. The board should
explain tactfully that it does not have the authority to
consider such matters. After taxes have been extended,
adjustments can be made only by the process of
application for abatement or by legal action.
Role of the local board in the assessment process
The local board can't order percentage increases or
decreasesfor an entire class ofpropertp. The authority
of the local board extends over the individual
assessments of real and personal property. The board
can't increase or decrease by percentage all of the
assessments in the district of a given class of property.
Changes in the aggregate assessments by classes are
made by the County Board of Appeal and Equalization.
The local board can't reduce the aggregate assessment
by more than I percent Although the Local Board of
Appeal and Equalization has the authority to increase or
reduce individual assessments, the total of such
adjustments must not reduce the aggregate assessment
of thejurisdiction by more than I percent. The
aggregate assessment" is the total EMV that the local
board has the authority to change, i.e. the total EMV of
assessments witlun the jurisdiction excluding state
assessed property. For example, if the total EMV of a
jurisdiction is $2,000,000, the board cannot reduce the
total EMV of the
jurisdiction by more Assessors EMV
than $20,000. This + Total board EMV increases
means the EMV after - Total board EMV reductions
board actions must be EMV after board actions
at least $1,980,000.
If the total amount of adjustments made by the local
board does lower the aggregate assessment by more
than 1 percent, none of the adjustments will be
allowed. This limitation doesn't apply, however, to the
correction of clerical errors or to the removal of
duplicate assessments. Clerical errors are limited to
errors made by someone performing a clerical function
during the course of the actual assessment. Examples of
clerical errors are errors such as transposing numbers or
mathematical errors. Errors that occur when making
estimations during the inspection and appraisal process
judgment errors) are not considered to be clerical errors.
The local board can't exempt property. The Local
Board of Appeal and Equalization does not have the
authority to grant an exemption or to order property
removed frog„ the tax rolls.
The local board can't make changes benefiting a
propertt' owner who refuses entry by the assessor.
The board may not make an individual market value
adjushnent or classification change that would benefit
the property in cases where the owner or other person
having control over the property will not permit the
assessor to inspect the property and the interior of any
buildings or structures.
273.20 ASSESSOR MAY ENTER DWELLINGS, BUILDINGS, OR STRUCTURES.
Any officer authorized by law to assess property for taxation may, when necessary to the
proper peri'ormance of duties, enter any dwelling -house, building, or strUcture, and view the
same and the property therein.
Any officer authorized by law to assess property for ad valorem tax purposes shall have
reasonable access to land and structures as necessary for the proper performance of their duties.
A property owner may refuse to allow an assessor to inspect their property. This refusal by the
property owner must be either verbal or expressly stated in a letter to the county assessor. if the
assessor is denied access to view a property, the assessor is authorized to estimate the property's
estimated market value by making assumptions believed appropriate concerning the property's
finish and condition.
History: (1997) RL s 814, 1986 c 444; 1999 c 243 art 5 s 24
meetings must be he lel between April I and (\play 31 each year. The clerk shall give published and
posted notice of the meeting at least ten clays before the date of the meeting.
The board shall meet at the ottice of the clerk to review the assessment and classification
of property in the town or city. No changes in valuation or classification which are intended to
correct mors in judgment by the county assessor may be made by the county assessor after
the board has adjourned in those cities or towns that hold a local board of review; however,
corrections of errors that are merely clerical in nature or changes that extend homestead treatment
to property are permitted after adjournment until the tax extension date for that assessment
year. The changes must be fully documented and maintained in the assessor's office and must
be available for review by any person. A copy of the changes made during this period in those
cities or towns that hold a local board ofreview must be sent to the county board no later than
December 31 of the assessment year.
b) The board shall determine whether the taxable property in the town or city has been1
properly placed on the list and properly valued by the assessor. If real of -personal property has
been omitted, the board shall place it on the list with its market value, and correct the assessment
so that each tract or lot of real properly, and each article, parcel, m- class of personal property,
is entered on the assessment list at its market value. No assessment of the property of any
person may be raised unless the person has been duly notified of the intent of (lie board to (lo
so. On application of any person feeling aggrieved, the board shall review (lie assessment of-
classification, rclassification, or both, and correct it as appearsjust. The board may not make an individual market
value adjustment or classitieation cbagge that would benefit the property if the ovk nu or other
person having contiot over the property his refused the assessor access to inspect the property and
Tt ie interim ofany buildings or structures as provided in section 273.20.
c) A focal Board may reduce assessments upon petition of the taxpayer lint the total
reductions must not reduce the aggregate assessment made by the county assessor by more than
one percent. If the total reductions would lower the aggregate assessments made by the county
assessor by more than one percent, none of (he adjustments may be made. The assessor shall
correct any clerical errors or double assessments discovered by the board without regard to
the one percent limitation.
d) A local board does not have authority to grant an exemption or to order properly removed
tion the tax rolls.
e) A majority of the members may act at the meeting, and adjourn from day to clay until
they finish hearing the cases presented. The assessor shall attend, with the assessment books and
papers, and take part in the proceedings, but must not vote. The county assessor, or an assistant
delegated by the county assessor shall attend the meetings. The board shall list separately, on a
form appended to the assessment book, all omitted property added to the list by the board and all
items of property increased or decreased, with the market value of each item of property, added
or changed by the board, placed opposite the item. The county assessor shall enter all changes
made by the board in the assessment book.
f) Except as provided in subdivision 3, if a person fails to appear in person, by counsel, or
by written communication before the board after being duly notified of the board's intent to raise
the assessment of the property, m- if a person feeling aggrieved by an assessment or classification
fails to apply for a review of the assessment or classification, the person may not appear before
the county board of appeal and equalization for a review of the assessment or classification. This
paragraph does not apply if an assessment was made after the local board meeting, as provided
in section 273.01, or if the person can establish not having received notice of market value at
least five clays before the local board meeting.
g) The local board must complete its work and adjourn within 20 clays from the time of
51
11ttp://www.reviSor.leg.state.mn.us/bin/getl)ub.php?pubtype=STAT CHAP&year=2006§ion=274 3/15/2007
vtnlnesota JlatUWS GVV'+, d, rage I et 1
Minnesota Styes "MA We AC Iers ,
fable of contents For Chapter 273
273.20 Assessor may enter dwellings, buildings, or
structures.
1357) RL s art; 1586 c - - ._ art 5 s is
C -_ fR -es, Z
Mimuiesota Statutes 2004, 273.08 Page I of I
Minnesota Statutes 2004. Table of Chapters
able_t7f contents for Chapter 273
273.08 Assessor's duties.
The assessor stall actuallyiew, , and determinehe market
value ,I each -act r lot r eelproperty listed for tar:at _ ,
including he value cf all improvements ana srrucEuresstructuresthereon,
an maximum ii ,a_.s r..- five ;Fars and shall enter rhe value
opposite each descrit_,r-,c.n.
F_ST: (5950) RL s 808, 15_5 c 451 s 1963 _ 799 „ 1965 c
614 s u; Erl96.7 c 32 .art 8 s , 1915 _ 1=7 art 8 s 9; 1984 c 593
s W 2003 c 121 art 2 s 21 .
yAw , AW 4,. ma M oe cf h"v-_c.` cf s atares,stare o, Q nescta.
Peter Tysdal
3015 East Medicine Lake Boulevard
Plymouth, MN 55441
April 17, 2007
Jan Olson
Assessing Department
City of Plymouth
3400 Plymouth Blvd.
Plymouth, MN 55447
763) 509-5355
Dear Ms. Olson:
I write in response to our conversation on April 11th. You stated that you had
reviewed my file and acknowledged that the valuation of my property was too high. My
answer to your desire to personally inspect my property was then, and is now, an
unqualified no. You had stated that Minnesota Statutes, specifically MS 273.2, MS 273.08,
and/or MS 274.01, preclude me from appealing the assessment of my property without
first allowing you to inspect my property. This is not true. MS 273.20 states "A property
owner may refuse to allow an assessor to inspect their property." It continues "If the
assessor is denied access to view a property, the assessor is authorized to estimate the
property's estimated market value by making assumptions believed appropriate
concerning the property's finish and condition." (emphasis mine).
My position is that the information you have regarding my property is faulty. A
19.1% current increase in market valuation is totally unwarranted in the current real estate
climate, as is a 120% increase in the last five years. There are 3 primary reasons for my
belief. First, regarding your implication or statement that lake shore properties always go up,
I was told by my previous realtor (Gary Medin of Edina Realty, 952 476-5381) who owns,
sells, and consequently is familiar with Lake Minnetonka (and Medicine Lake having sold my
other lake shore property) lake shore, that Minnetonka lake shore properties appeared to
have "returned to 2005 price levels". Second, the average sales price increase for
Plymouth properties, from 2000 to 2006, has been 43.0%, while mine has increased
120% over the last 5 years. The average sales price increase from 2005 to 2006 has
been .2% (1/5th of a percent). This information was obtained from Kathy Dick of Edina
Realty (763) 545-5000. Third, the National Board of Realtors stated in early April that their
estimate of average housing prices in the United States for this year to be a negative .7%
the first yearly drop in 38 years).
Lastly, I suspect that you have used the selling price of 3005 E.M.L.B. In your
computations. It should be noted first that the selling price reflects a $5,000.00
overpayment that was returned to him as cash at closing. Second, I suspect the buyer paid
too much as he evicted the renter, lived on the property for a short while, but the house has
been vacant for quite some time. I suspect he will either be foreclosed upon or will put the
property up for sale at a lower price.
My demand is that you abide by MS 273.20 and make the correct assumptions
believed appropriate" when recognizing the above stated facts regarding Plymouth
property, lakeshore property, and the real estate market in general. I wish to review the file
and help you correct the errors in the assessment of my property. Please inform when it
would be a good time to do so.
Yours truly,
Peter Tysdal
ORAL PRESENTATION #5
2007 BOARD OF APPEAL & EQUALIZATION
STAFF REPORT AND RECOMMENDATION
PROPERTY OWNERS NAME: Hongyi Duan
PROPERTY ADDRESS: 16435 43rd Ave N
PID #: 17-118-22-12-0044
LEGAL DESCRIPTION: Lot 16 Block 15 Westbranch
PROPERTY TYPE: Residential Single Family
2007
MARKET VALUE
VALUE PRIOR TO
LOCAL BOARD
ASSESSOR'S
RECOMMENDATION
LAND MARKET VALUE 100,000 No change
STRUCTURE MARKET VALUE 292,700 No change
TOTAL MARKET VALUE 392,700 No change
ASSESSMENT HISTORY 2005 2006 2007
Total Market Value 371,700 1 $395,700 1 $392,700
Limited Market Value
Improvement
SUBJECT PROPERTY
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DIAGARAM
DIMENSIONS
Sty Ht Sq Ft
2/B x = 2,096
Q G I x I _ F 120
Ground Fl. Area 1,048
Second Fl. Area 1,068
Gross Bldg Area 2,216
Porches/Decks
Deck 1216
Att 1 22 1 x1 20 1= 1 420 I
Subject Location Flap
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SALES COMPARISON ADJUSTMENT GRID
Subject Comparable #1 Comparable #2 Comparable #3 Comparable #4
ADDRESS: 16435
43rd Ave N
4225
Comstock Ln N
16310
43`d Ave N
4110
Xene Ln N
3715
Yellowstone Ln
PID# 17-118-22-
12-0044
17-118-22-13-
0033
17-118-22-13-
0029
17-118-22-14-
0014
18-118-22-31-0023
SALE DATE:
A r-06 Nov- 06 Aug -06 Jun- 06
SALE PRICE:
TIME ADJUSTMENT:
ADJ.SALE PRICE:
385,000
3850
388,850
385,000
385,000
343,000
1029
344,029
419,000
2933
421,933
TYPE OF BLDG: 2 Story 2 Story - 2 Story - 2 Story 2 Story -
ABOVE GRADE
FINISH 2216 1878 +33800 2075 +14100 2156 2300 -
UALITY; Avg Avg - Avg - Avg Avg -
AGE: 1994 1995 - 1995 1993 1993 -
CONDITION: Good Good Good Good Good
BEDROOMS: 5 3 +6000 4 +3000 4—+-30-00 4 +3000
OF BATHS 3 3 - 3 - 3 3
FIN. BSMT. AREA: 658 960 (7550) 77 9 (3025) 369 +7225 550 +2700
WALKOUT: Yes Yes No 5000 N 5000 No 5000
FIREPLACES: 1 1 - 1 1 1
GARAGE: 2 Car 2 Car - 3 Car (12000) 2 Car 2 Car
DECK: Yes Yes - Yes Yes Yes
PORCHES:
POOL:
LOCATION:
NET ADJUSTMENT: 1 32250 7075 15225 10700
ADJ SALE PRICE: 387,300 392,075 359,254 432,633
INDICATED VALUE AS OF JANUARY 2,2007:
392,700
COMPARABLE
COMPARABLE#1
4225 Comstock Ln N
COMPARABLE#2
16310 43rd Ave N
COMPARABLE#3
4110 Xerc Ln N
COMPARABLE#4
3715 Yellowstone Ln N
COMPARABLE #1
This comparable sale is located in the Westbranch subdivision. It is slightly smaller
two story walkout than the subject property but otherwise is readily comparable
with similar characteristics. No adjustment was made for the location on Dunkirk
Lane. This sale was cited by the home owner as a reasonable comparable.
COMPARABLE #2
This comparable is across the street and four houses away from the subject. It has
frontage on both 43rd and Old Rockford Road but again no adjustment was made
for a less desirable location. This comparable required the least amount of
adjustments especially a time adjustment for age of the sale and as such was given
the most weight as an indicator of value. This sale was cited by the homeowner as a
reasonable comparable.
COMPARABLE #3
This comparable is located in Willow Meadows Addition which is a smaller
subdivision just east of Westbranch. The property is a similarly constructed two
story that is readily comparable to the subject property. This comparable is second
only to Comparable #2 because the location is not as similar.
COMPARABLE #4
This comparable is a similarly constructed two story in Bridlewood Farms
subdivision. Above grade square footage, year of construction, number of baths,
fireplaces, and garage stalls were all comparable to the subject property and
required no adjustments.
VALUE CONCLUSION
LOCATION: The property is located in the Westbranch Addition at the
intersection of 43rd Avenue North and Black Oaks Lane North. The property is
insulated from traffic noise of Old Rockford Road by the houses across the street.
SITE: This is a walkout lot typical of the neighboring properties that share at least
a view of the holding pond in back. The lot is otherwise level to the street and
average in size for this subdivision.
IMPROVEMENTS and FEATURES: The property was improved with a
single family, walkout, two story structure with a deck in 1994. The home has 2,874
square feet of well maintained finished living space which includes the basement
level. The basement area consist of a family room and a bedroom.
OWNERS CONCERNS: The Duans are concerned that their value is too high
given current market conditions and recent sales in their neighborhood. They have
done routine maintenance but no improvements and feel the increase in value over
the last four years is dramatic. Also, Mrs. Duan indicated a concern over the fact
that they have no bathroom or even a rough -in for a bath in the basement.
RECONCILATION OF VALUE:
The subject property was compared to similarly constructed two story homes which
recently sold in or near the neighborhood in which it is located. The adjustment grid
contained in this report compares these sales with the subject property and indicates
the most likely value for the subject property. The use of Comparables #1 thru #3
were suggested by the homeowner and agreed upon by the Assessor. Based upon the
information contained in this report it is the opinion of this Assessor that the value
remains unchanged at:
392,700
I Lw) 4
Mike Vander Linden, CMA
Appraiser
763)509-5356
mvanderl@ci.plymouth.mn.us
Comparable Sales Map
N
City ofrepresents a compilation of information and
W E
data fromcity.caunly, state and other sources that has Snotbeenfieelddverifietl. Information should be field
Plymouth, M N verified and compared with angianl source documents.
CITY OF PLYMOUTH
LOCAL BOARD OF APPEAL AND EQUALIZATION
April 10, 2007 @ 5:30 PM
The primary focus of the Local Board of Appeal and Equalization is to consider the
estimated market value and/or classification for the 2007 assessment for taxes payable in
2008. The Bo//a/rd is not empowered to adjust taxes.
Name rf7fl i/kli/ _
Address:
How can we reach you: Please list your telephone numbers:
Home Work Celle 702 1,i4 9
Purchase Price: ,SbD'o Purchase Date: -4W2 3 0
Is the property currently for sale? If yes, what is the asking price.
Please list any improvements made to your property since your purchase:
2007 Estimated Market Value (fiom your valuation notice) 2 ;2/ )Py
2006 Estimated Market Value (from your valuation notice) J Owner's opinion of value_
Your appeal must be based on evidence that the 2007 estimated market value exceeds the
true market value of your property. Please list the reasons why you believe that you
could not sell your property for the value stated on your 2007 valuation notice. Please
attach any documentation to support your opinion. To reserve your right to appeal,
please speak to a staff appraiser as soon as possible and then return this form to the
Plymouth Assessor's office no later than Friday, April 6.
C
Do you wish to verbally
rearm ' ' r
ss the Board? No
Plymouth Assessing Division
3400 Plymouth Blvd.
Plymouth, MN 55447
763-509-5360
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WRITTEN PRESENTATION #I
2007 BOARD OF APPEAL & EQUALIZATION
STAFF REPORT AND RECOMMENDATION
PROPERTY OWNERS NAME: Robert & Jacqueline Kohns
PROPERTY ADDRESS: 12820 54`x' Ave. N.
PID #: 10-118-22-11-0015
LEGAL DESCRIPTION: Lot 12 Block 1 Bass Lake Heights 4th
PROPERTY TYPE: Residential Single Family
2007
MARKET VALUE
VALUE PRIOR TO ASSESSOR'S
LOCAL BOARD RECOMMENDATION
LAND MARKET VALUE 93,000
STRUCTURE MARKET VALUE 449,800
TOTAL MARKET VALUE 542,800 No Change
ASSESSMENT HISTORY 2005 2006 2007
Total Market Value 448,700 547,600 542,800
Limited Market Value 448,700 547,600 542.800
Improvement 68,900
OWNERS CONCERNS:
Mr. Kohn feels the 75 foot cell tower that will be constructed in Bass Lake
Playfields will affect his market value. The tower will be in direct view out
his kitchen window.
RECONCILATION OF VALUE:
I spoke with Mr. Kohns prior to the Local Board, on April 4, 2007. He
voiced his concerns regarding the cell tower that was approved by city
council and will be constructed in Bass Lake Playfields behind his property.
I shared with Mr. Kohns that based on three studies it has been shown there
is no negative impact on market values of property when a
telecommunication tower is in close proximity.
The first study was prepared by Ruppert & Ruppert Associates, Inc. and
looked at single family residential properties in three test areas: Stillwater,
Golden Valley, and New Hope. The second study was prepared by Patchin
Messner Appraisals, Inc and looked at single family residential properties in
Apple Valley and Woodbury. This study also included rural properties in
Woodbury and Minnestrista. The third study was prepared by Darrin G.
Schwab, J.C. Norby & Associates and looked at properties in Wisconsin,
both urban and rural. All three studies showed there was no discernable
negative or positive impact on property values when a telecommunication
tower is located in close proximity.
Mr. Kohns feels the proposed tower will negatively impact his value and
filed his written appeal at the Local Board of Appeal and Equalization to
reserve the right to appeal to the County Board of Appeal and Equalization.
I recommend his 2007 estimated market value remain unchanged at
542,800
Cindy Bowman, CMA
Appraiser
763-509-5353
cbowman@ci.plymouth.mn.us
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WRITTEN PRESENTATION #2
2007 BOARD OF APPEAL & EQUALIZATION
STAFF REPORT AND RECOMMENDATION
PROPERTY OWNERS NAME: Darrell Gauvitte
PROPERTY ADDRESS: 10315 &10305 Bass Lake Road
PID #: 01-118-22-31-0017 & 01-118-22-31-0001
LEGAL DESCRIPTION: Outlot H The Ponds At Bass Creek & Unplatted Section 01
PROPERTY TYPE: Residential Single Family and Vacant Land Residential
PARCEL 01-118-22-31-0017
2007
MARKET VALUE
VALUE PRIOR TO
LOCAL BOARD
ASSESSOR'S
RECOMMENDATION
LAND MARKET VALUE 370,500 No Change
STRUCTURE MARKET VALUE 74,400 No Change
TOTAL MARKET VALUE 444,900 No Change
ASSESSMENT HISTORY 2005 2006 2007
Total Market Value $368,600 $444,900 $444,900
Limited Market Value $320,200 $368,200
Improvement -- -
2007
MARKET VALUE
LAND MARKET VALUE
STRUCTURE MARKET VALUE
TOTAL MARKET VALUE
PARCEL 01-118-22-31-0001
VALUE PRIOR TO
1
1
ASSESSOR'S
No
ace
ASSESSMENT HISTORY 2005 2006 2007
Total Market Value $99,000 $108,000 $120,000
Limited Market Value $69,000 $79,000 $92,700
Improvement
SUBJECT PROPERTIES
01-118-22-31-0017
01-118-22-31-0001
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Subject Location Map
SALES COMPARISON GRID
COMPARABLE #1 This property contains 4.5 wooded acres with a creek and
utilities available. The existing dwelling is to be torn down. The existing zoning is
Single Family Detached -1 with a minimum lot size of 18,500 square feet.
COMPARABLE #2 This comparable is a 4.11 acre parcel that is currently
zoned Single Family Detached -1. The existing dwelling was torn down.
COMPARABLE #3 This parcel was split from an existing lot in Holly Creek
and is 2.75 acres in size with substantial wetlands. It is zoned Single Family
Detached -2 with a minimum lot size of 12,500 square feet.
COMPARABLE #4 This parcel was sold as a single lot and the existing dwelling
was demolished. It is zoned as Future Restricted Development.
Subject Comparable #1 Comparable #2 Comparable #3 Comparable #4
ADDRESS: 10315
Co. Rd. 10
1829
Forestview Ln N
440
Queensland Ave
17050
415' Ave. N
5125
Pineview Ln N
PID# 01-118-22-
31-0017
26-118-22-31-
0016
31-118-22-42-0003 17-118-22-23-0007 10-118-22-14-
0002
SALE DATE: 5/15/2005 10/22/2004 4/14/2006 10/4/2004
SALE PRICE:
TIME ADJUSTMENT:
ADJ.SALE PRICE:
520,000 870,273 241,935 450,000
23,400 69,622 2,419 36,000
543,400 939,895 244,354 486,000
ZONING: PUD RSF-1 RSF-I RSF-2 FRD
TOTAL ACRES: 4.74 4.46 4.11 2.77 4.87
WETLAND ACRES: 75 0 11 2.07 1.45
USEABLE ACRES: 3.99 4.46 4
MUSA: y y y y Z
COMMENTS: Subdivided in to 2
single lots
Subdivided in to 6
single lots
Single lot sale Single lot sale
PRICE PER ACRE: 93,861 121,839 228,685 88,214 99,795
PRICE PER
USEABLE ACRE: 111,504 121,839 234,974 249,077 142,105
INDICATED VALUE AS OF JANUARY 2,2007:
444,900
COMPARABLE #1 This property contains 4.5 wooded acres with a creek and
utilities available. The existing dwelling is to be torn down. The existing zoning is
Single Family Detached -1 with a minimum lot size of 18,500 square feet.
COMPARABLE #2 This comparable is a 4.11 acre parcel that is currently
zoned Single Family Detached -1. The existing dwelling was torn down.
COMPARABLE #3 This parcel was split from an existing lot in Holly Creek
and is 2.75 acres in size with substantial wetlands. It is zoned Single Family
Detached -2 with a minimum lot size of 12,500 square feet.
COMPARABLE #4 This parcel was sold as a single lot and the existing dwelling
was demolished. It is zoned as Future Restricted Development.
COMPARABLE SALES FOR O1-118-22-31-0017
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COMPARABLE
COMPARABLE
1829 Forestview Ln N
1 1 Ave N
COMPARABLE COMPARABLE
17050
Comparable Sales Map
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This represents coronation a of information s tnotfromcity, county, state and other sources that nas S
Plymouth, M N not been fieltl verified. Inth
oration
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Comparable Sales Map
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City of t^, E
This represents coronationa of information s tnotfromcity, county, state and other sources that nas S
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oration
shun be fieldverifietlandcomparedwithorigianlsourczdocuments.
SALES COMPARISON GRID
Subject I Comparable #1 I Comparable #2
ADDRESS: 17200
I VAve N
17321
Co Rd 24
PID# 01-118-22-
31-0001
32-118-22-22-
0039
20-118-22-23-
0068
SALE DATE: 2/28/2007 9/30/2004
SALE PRICE:
TIME ADJUSTMENT:
ADJ.SALE PRICE:
5150,000 S115,000
59,200
5150,000 5124,000
ZONING: PUD RSF-1 RSF-2
TOTAL ACRES: 66 47 63
MUSA: Y Y Y
BUILDER
RESTRICTIONS:
N N N
ADJ SALE PRICE: 150,000 5124.000
omparable #3
14-40
44thn Ave N
16-118-22-12-
0063
3/1/2006
RSF-3
COMPARABLE #1 This sale was chosen for its recent sale, similar size and
absence of builder restrictions. There was no structure on the property at the time
of sale and the new owner was able to select their own builder or build themselves.
The property is zoned Single Family Detached -1. Utilities are available in the street.
COMPARABLE #2 This comparable was selected for similar location on a
county road, size and absence of builder restrictions. The property had no
structures at the time of sale and utilities were available in the street. It is currently
zoned as Single Family Detached -2.
COMPARABLE #3 The parcel was one of three lots sold in the Bridgeport
subdivision. The lots are about one third of an acre and the buyer must use a
specified builder. Utilities are on site and it is cur rcntly zoned Single Family
Detached -3.
COMPARABLE SALES FOR 01-118-22-31-0001
COMPARABLE #1
17200 11th Ave
COMPARABLE#3
14840 40 Ave
COMPARABLE#2
17331 Co. Rd. 24
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City of
Plymouth, MN
Comparable Sales Map
This represents of information and
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data from county,state acounty, state and other sources that has VV
SfieldnotbeenFieldvenFetl. Information should be field
verified and compared with origianl source documents.
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City of
Plymouth, MN
Comparable Sales Map
This represents of information and
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data from county,state acounty, state and other sources that has VV
SfieldnotbeenFieldvenFetl. Information should be field
verified and compared with origianl source documents.
VALUE CONCLUSION
LOCATION: Both parcels are located along the south side of County Road 10
between Nathan Lane and Trenton Lane.
SITE: The subject properties are adjoining parcels. Both parcels are similarly
restricted in access and development and are owned by the same person. The two
parcels are being appraised both individually and as one. Restrictions regarding
egress and ingress affect the two subject properties. Access onto County Road 10 is
limited to a single family entrance and access to Nathan Lane is blocked by wetlands
and access to Trenton Lane can only be gained thru development of a third
separatly owned parcel. There is currently a Preliminary Plat on file that
encompasses these tvvo parcels and the third separatly owned parcel which includes
access to Trenton Lane. Unfortunatly, the developer of record is in bankruptcy.
Further, both parcels are currently zoned PUD and would require rezoning to
develop the site for other uses.
IMPROVEMENTS and FEATURES: The parcels currently share a
driveway that traverses Bass Creek. The larger parcel has a two story dwelling that
was constructed in 1965. This structure is currently uninhabitable with the well
being abandonded and the fuel oil tank removed. There is also a barn on that parcel
that is salvageable and the two stall garage attached to the dwelling serves as
storage. Bass Creek crosses both parcels near the right of way for County Road 10
and provides a natural buffer with both banks of the creek being heavily wooded.
OWNERS CONCERNS: The owner is concerned that his property is over
valued due to the obstacles to development for single or multi family.
RECONCILATION OF VALUE: Both parcels have been compared to
similar sized parcels that have recently sold. Every effort has been made to adjust
these comparbles to the subject. The owner states that the smaller parcel is for sale
at $150,000 and the larger one at $490,000 and have been since 1984. Neither parcel
appears to have ever been listed on the MLS, and Mr. Gauvitte has not shared the
sale price to Lifestyle Properties for the Preliminary Plat of The Villas of Bass Lake
Creek. Based on the information contained in this report and giving consideration
to the ingress and egress issues, it is the opinion of this appraiser that the values
remain unchanged at:
O1-118-22-31-0001 $120,000
01-118-22-31-0017 $444,900
V
Michael VanderLinden
Appraiser
763-509-5356
mvanderl@ci.plymouth.mn.us
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CITY OF PLYMOUTH
LOCAL BOARD OF APPEAL AND EQUALIZATION
April 10, 2007 n 5:30 PM
The primary focus of the Local Board of Appeal and Equalization is to consider the
estimated market value and/or classification for the 2007 assessment for taxes payable in
2008. The Board is not empowered to adjust taxes.
Name -DARRLz-1.I. 16 (yV%rYL=
Address:_ 10311 84 Si d4Kl= RD, 6C6,/?D "16%
How can we reach you: Please list your telephone numbers:
Hotne.lh.& y;. 42 Work Cell --
Purchase Price: N %pin Purchase Date: {k 3
Is the property currently for sale?_Y,6' If yes, what is the asking price? $' J4gQ. 121)0
Please list any improvements made to your property since your purchase:
J41XaV P61 -L' OZ497V L176PrfiO /A/ IQ 7,5
191&-k7D0QPlr/GY-Yl-ga L11UAt.jAru 1AIrTRLE<
2007 Estimated Market Value (from your valuation
2006 Estimated Market Value (from your valuation
Owner's opinion of value S = L' r -7A c, (f,cU
Your appeal must be based on evidence that the 2007 estimated market value exceeds the
true market value of your property. Please list the reasons why you believe that you
could not sell your property for the value stated on your 2007 valuation notice. Please
attach any documentation to support your opinion. To reserve your right to appeal,
please speak to a staff appraiser as soon as possible and then return this form to the
Plymouth Assessor's office no later than Friday, April 6.
Do you wish to verbally address the Board? Yes 7
Plymouth Assessing Division
3400 Plymouth Blvd.
Plymouth, MN 55447
763-509-5360
CITY OF PLYMOUTH
LOCAL BOARD OF APPEAL AND EQUALIZATION
April 10, 2007 @ 5:30 PM
The primary focus of the Local Board of Appeal and Equalization is to consider the
estimated market value and/or classification for the 2007 assessment for taxes payable in
2008. The Board is not empowered to adjust taxes.
Name
Address:_/()3Uh i3AS5 1 -/WI -=RD (—CoRo 4to)
How can we reach you: Please list your telephone numbers:
Homeljb1A- ft Jl1i 0 Work Cell ---
Purchase Price:()A11<0W Al Purchase Date: / R /,/,
Is the property currently for sale?)6p__ If yes, what is the asking price?
Please list any improvements made to your property since your purchase:
S16dl,L6 -rnR J l-lnMF_ EA?j=0 LQ /iv /96b
Z-A1.IA1,.LA&0<e-AgfN( b, Rn i -,.TREES
2007 Estimated Market Value (from your valuation notice)—& (ar DUU
2006 Estimated Market Value (from your valuation notice) a a4 aoOwner's opinion of value §F E ij y T q i — 17 -
Your appeal must be based on evidence that the 2007 estimated market value exceeds the
true market value of your property. Please list the reasons why you believe that you
could not sell your property for the value stated on your 2007 valuation notice. Please
attach any documentation to support your opinion. To reserve your right to appeal,
please speak to a staff appraiser as soon as possible and then return this form to the
Plymouth Assessors office no later than Friday, April 6.
Do you wish to verbally address the Board? Yes No
Plymouth Assessing Division
3400 Plymouth Blvd.
Plymouth, MN 55447
763-509-5360
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5550 Nathan Lane N. Unit #1
Plymouth, MN 55442
April 5, 2007
City of Plymouth
Local Board of Appeal and Equalization
Dear Board members,
This letter is being written to explain the unusual circumstances of our two properties on
Co. Road #10 [Bass Lake Road]. One parcel, property # 01-118-22 310001 is .75 acres
in size and the other property # 01-118-22 310017 is 4.64 acres in size. These 2 parcels
comprise what is our former home site and that of my parents, now deceased. Both were
purchased in 1964-1966 where we both built homes and we raised our family. Time
moved along, my parents passed away, our children moved on and in 1996 my wife and I
moved out because the old home was too big to take care of in our declining years.
We have been trying to sell this property since 1984 and have had numerous contacts that
were interested, but because we are access blocked to Nathan Lane, [our only outlet for
developmental purposes] by the Astleford property, this has made it impossible to sell.
The only direction for our access is East to Nathan Lane [see enclosed map]. There is
wetland to the West. We do have limited access to Bass Lake Road, but the City says that
access will be closed if the property is developed as it is designated, multi -family.
The Astleford Co. owns property on both sides of Nathan Lane; on the East side of the
road the property they own is commercial and on the West side of the road the property is
designated LA -3 or 6 to 12 units per acre, the same as our property.
No one can read minds or know the motivation or intention of someone else, or force a
reluctant property owner to sell or even to negotiate. But it's clear to us from years of
observation that the Astleford Co. is not interested in selling, which leaves us holding thebag, so to speak. As a graphic illustration of this, I have enclosed some pictures; two
pictures [exhibit "A"] are of their commercial property and show a close- up of the For
Sale sign that they erected some 30 years ago. The sign is so old that it doesn't have the
area code number for the phone numbers listed on the sign. The other picture is a
panoramic view of the multi -family property [exhibit "B"] that shows no For Sale sign at
all which illustrates their intention as stated earlier.
In conclusion, this property is Land Locked and therefore should merit some special
consideration. There is nothing "equal" about this property for tax purposes. It's not fair
or right that all properties should be treated the same and that we have to go on paying
ever increasing taxes on property that is practically not saleable. Thank you.
Darrell a tt
WRITTEN PRESENTATION # 3
2007 BOARD OF APPEAL & EQUALIZATION
STAFF REPORT AND RECOMMENDATION
PROPERTY OWNERS NAME: Todd Ringhouse
PROPERTY ADDRESS: 18220 3`d Avenue North
PID #:31-118-22-42-0026
LEGAL DESCRIPTION: Lot 8 Block 1 Hadley Place
PROPERTY TYPE: Residential Lakeshore
2007
MARKET VALUE
VALUE PRIOR TO
LOCAL BOARD
ASSESSOR'S
RECOMMENDATION
LAND MARKET VALUE 384,600 384,600
STRUCTURE MARKET VALUE 498,400 410,500
TOTAL MARKET VALUE 883,000 795,100
ASSESSMENT HISTORY 2005 12006 2007
Total Market Value 76,100 795,100 1 $883,000
Limited Market Value 736,600 795,100 883,000
Improvement 0 0 0
SUBJECT LOCATION MAP
Fj/ 21
W
16 19
14 GP DECK
1 fC 20
22.5
GARAGE 24.5
DgJK
30 3/82 28
GBA=2,953 S.F.
SALES COMPARISON ADJUSTMENT GRID
100
Subject Comparable #1 Comparable #2 Comparable #3
ADDRESS: 18220 3rd
Ave N
11920 28ih Ave N 18500 Co. Rd. 6 12230 54" Ave N
PID# 31-118-22-
42-0026
23-118-22-34-0106 30-118-22-34-0032 02-118-22-34-0001
SALE DATE: 8/06 12/05 7/05
SALE PRICE:
TIME ADJUSTMENT:
ADJ.SALE PRICE:
802,000 770,000 $875.000
2,406 13,090 $30,625
804,406 783,090 $905,625
ADJ.SALE/SQ FT:
TYPE OF BLDG: 2 story 2 Story 2 Story 2 Story
ABOVE GRADE
FINISH
2,953 2.700 17,700 2,944 ----- 4.343 (97,300)
QUALITY; Avg -AA Avg -AA Ab. 10,000
Avg.
ACE: 1980 1988 20,110) 1992 (35,200) 1984 (4,528)
CONDITION:
BEDROOMS: 4 3 4 3
OF BATHS 3+1'2 2 7,000 2 7,000 2+3 1/2 ------
FIN. BSMT. AREA: 735 365 9,250 1,266 (]3,275) 2,000 (31.625)
WALKOUT: Yes L/O 3,000 Yes -------- Yes ------
FIREPLACES: 3 3 2 5,000 4 (2,500)
GARAGE: 3 car
attached
3 car
attached
3 car -------- 3 car -------
attached attached
DECK: Yes Yes Yes -------- Yes --------
PORCHES: 3 season None 18,000 3 season -------- None 18000
POOL: Yes (4,000)
LOCATION: Hadley
Lake
Medicine
Lake
50.000) Mooney —1 -0, -0 -00 -Bass ------
Lake Lake
160' 86' 1 133' 115'
NET ADJUSTMENT: 15,100) 16,490 (121,953)
ADJ SALE PRICE: 789,300 766,600 $783,672
ADJ SALE /SQ FT:
100
OWNERS CONCERNS:
Mr. Ringhouse had a refinance appraisal of his property on 3/23/07.
Based on this appraisal, he thinks the estimated valuation should be somewhere between
750,000 to $790,000.
RECONCILATION OF VALUE:
The property was reviewed on 4/18/2007. The appraisal was done for refinance purposes
and came in at 5790,000. The sales comparisions used for this report ranged from 5770-
875,000. The sales were from Medicine lake, Mooney Lake and Bass Lake. A large
adjustment was made for the Medicine Lake comparable because it is generally
considered a better boating and fishing lake. After considering the comparables and
reviewing the refinance appraisal, I called Mr. Ringhouse back on 4/18/2007. He agreed
to a reduction to $795,100.
The recommendation is $795,100
a b4A
Paul Kingsbury, CMA
Appraiser
763)509-5357
pkingsbu toci.plymouth.mn.us
CITY OF PLYMOUTH
LOCAL BOARD OF APPEAL AND EQUALIZATION
April 10, 2007 @ 5:30 PM
The primary focus of the Local Board of Appeal and Equalization is to consider the
estimated market value and/or classification for the 2007 assessment for taxes payable in2008. The Board is not empowered to adjust taxes.
Name -mt> > P-N)Gt+& ak-
Address: M27-cl 3:b k\fC N Py"O'NL-\
How can we reach you: Please list your telephone numbers:
Home Work Cell folZ' (6SC)-72'7
Purchase Price: `- Go l cznc!) Purchase Date: t I q (c::,
Is the property currently for sale? 1,10 If yes, what is the asking price?
Please list any improvements made to your property since your purchase:
APS QAW c.p_p
2007 Estimated Market Value (from your valuation notice) Se5--7; aEo
2006 Estimated Market Value (from your valuation notice)
Owner's opinion of value_ CMA ?fir CAJp7 AM;-W—a 06 Z)
Your appeal must be based on evidence that the 2007 estimated market value exceeds the
true market value of your property. Please list the reasons why you believe that you
could not sell your property for the value stated on your 2007 valuation notice. Please
attach any documentation to support your opinion. To reserve your right to appeal,
Please speak to a staff appraiser as soon as possible and then return this form to the
Plymouth Assessor's office no later than Friday, April 6.
SJ Ansb 6?-- — AVAu.-AP7LC--
Do you wish to verbally address the Board? We
Plymouth Assessing Division
3400 Plymouth Blvd.
Plymouth, MN 55447
763-509-5360
WRITTEN PRESENTATION # 4
2007 BOARD OF APPEAL & EQUALIZATION
STAFF REPORT AND RECOMMENDATION
PROPERTY OWNERS NAME: Chris Swingley
PROPERTY ADDRESS: 2780 Evergreen Lane North
PID #: 23-118-22-43-0005
LEGAL DESCRIPTION: Unplatted Sec. 23
PROPERTY TYPE: Residential Lakeshore
2007
MARKET VALUE
VALUE PRIOR TO
LOCAL BOARD
ASSESSOR'S
RECOMMENDATION
LAND MARKET VALUE 394,500 369,500
STRUCTURE MARKET VALUE 175,100 175,100
TOTAL MARKET VALUE 569,600 544,600
ASSESSMENT HISTORY 2005 2006 1 2007
Total Market Value 467,800 475,700 569,600
Limited Market Value 380,100 437,100 502,600
Improvement 0 0 0
SUBJECT PROPERTY
Sty Ht Dimensions Sq Ft
1+1/2B = 502
1/B 10 x 26 = 260
1/C 16 x 20 = 320
GARAGE
Ground Fl. Area = 1,082
Second Fl. Area = 251
Gross Bldg Area = 1,333
Garages
Detached 26 x 24 = 624
K-2
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c,
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Subject Location :biap
SALES COMPARISON ADJUSTMENT GRID
Subject Comparable #1 Comparable #2 Comparable #3
ADDRESS: 2870
Evergreen Ln
N
10340 South Shore
Dr.
10314 South Shore Dr. 9920 South Shore Dr.
PID# 23-118-2243-
0005
25-118-22-34-0018 25-118-22-34-0015 25-118-22-43-0018
SALE DATE: 10/06 10/04 7/06
SALE PRICE:
TIME ADJUSTMENT:
ADJ.SALE PRICE:
575,000 5499,900 630,000
39,992 3,150
575.000 539,892 633,150
ADJ.SALE/SQ FT:
TYPE OF BLDG: 1+1/2 Story 1/4
Story
One story One
Story
ABOVE GRADE
FINISH
1,333 1,318 1,119 9,630 1,178 6,975
AGE: 1920
Remodel)
1935 20,000 1925
remodel)
1961 10,000)
BEDROOMS: 1 3 6,000) 3 6,000) 3 6,000)
OF BATHS 1+3/4 1+3/4 3 5,000) 1+1/2 1,000
FIN. BSMT. AREA: None 700 12,600) 700 12,600)
FIREPLACES: 1 None 2,500 None 2,500 2 2,500)
GARAGE: 2+1/2 car
Detached
1+1/2 car
Detached
4,000 2+1/2
Detached
1 car TU 6,000
DECK: Yes None 3,000 Yes Yes
LOCATION: Medicine Lake
44'
Medicine
Lake 48'
Medicine
Lake 48'
Medicine
Lake 100'
50,000)
NET ADJUSTMENT: 23,500 11,492) 68,150)
ADJ SALE PRICE: 598,500 528,400 565,000
566,400
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COMPARABLE #2
COMPARABLE #3
COMP#31
COMP #2
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Comparable Sales Map
N
City of represents a compilation of information and
W
data from city, county, state and other sources that has 8notbeenfieldverified. Information should be field
Plymouth, M N verified and compared with odgianl source documents.
27TH
27TH APE
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ad=_
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t
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Comparable Sales Map
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City of represents a compilation of information and
W
data from city, county, state and other sources that has 8notbeenfieldverified. Information should be field
Plymouth, M N verified and compared with odgianl source documents.
VALUE CONCLUSION
LOCATION:
The property is located on the west side of Medicine Lake close to the intersection of
Evergreen Lane and 28`h Avenue North. The property is surrounded by a combination of
original cabins and homes that have had varying amounts of remodeling, along with
newer built homes.
SITE:
The site is a rectangle with 44' on Medicine Lake. There is a panoramic view from the
backside of the property looking east across the lake.
IMPROVEMENTS and FEATURES:
The property was purchased for $240,750 in May 2001. The original house was built
around 1920. Since 2001, the property has undergone extensive remodeling to the two
upper floors that include remodel of the kitchen and baths. The home has newer
maintainence free siding, and doors and windows have been replaced. The basement area
is unfinished. There is also a large 2 car detached garage that enters from Evergreen Lane.
Although the original home is older, the remodeling has upgraded the home inside and
out and appears to be overall in very good condition.
OWNERS CONCERNS:
Mr. Swingley states that the land value is estimated too high, and that there are no sales
on Medicine Lake that are comparable. All recent sales have much larger lots. He states
the estimated market value should be in the $400,000-$450,000 range.
RECONCILATION OF VALUE:
The property was reviewed on April I 11h , 2007. The sales range of the comparables is
499,900-$630,000. The first two of the three comparables have similar amount of
Lakeshore land and are similar age homes, and therefore carry the most weight in the
comparison. The third comparable has more lakeshore and would carry the least weight.
At the time of the review, Mr. Swingley was also questioning the estimated land value
portions of the 2007 total valuation on his property and properties adjacent to his. He
thought that his land value was too high compared to some of his neighbors. Because the
property only has 44 feet on Medicine Lake, the land portion of the valuation was
adjusted down by $25,000, from $394,500 to 369,500. After talking to Mr. Swingley on
April 17`h he still feels that the land portion is still too high. The land and building are an
allocation of the total estimated valuation.
After making the adjustment to the property valuation:
The recommendation is $544,600
Paul Kingsbury, CMA
Appraiser
763)509-5357
pki ngsbu@ci.p lyra nuth. mn. u c
CITY OF PLYMOUTH
LOCAL BOARD OF APPEAL AND EQUALIZATION
April 10, 2007 cid 5:30 PM
The primary focus of the Local Board of Appeal and Equalization is to consider the
estimated market value and/or classification for the 2007 assessment for taxes payable in
2008. The Board is not empowered to adjust taxes.
N
Address:
How can we reach you: Please list your telephone numbers:
Home:w---ISia, L>3 Work `5Z,s zSG/ Cell_( IR .
Purchase Price: 14666-? Purchase Date: jeC-
Is the property currentlyy for sale? k1f If yes, what is the asking price?
Please list any improvements made to your property since your purchase:
T-0
2007 Estimated Market Value (from your valuation notice)_ rj(,11 yc
2006 Estimated Market Value (from your valuation notice) 4-7E, —7c--
Owner's opinion of
1
Your appeal must be based on evidence that the 2007 estimated market value exceeds the
true market value of your property. Please list the reasons why you believe that you
could not sell your property for the value stated on your 2007 valuation notice. Please
attach any documentation to support your opinion. To reserve your right to appeal,
please speak to a staff appraiser as soon as possible and then return this form to the
Plymouth Assessor's office no later than Friday, April 6.
Do you wish to verbally address the Board?
Plymouth Assessing Division
3400 Plymouth Blvd.
Plymouth, MN 55447
763-509-5360
WRITTEN PRESENTATION #5
2007 BOARD OF APPEAL & EQUALIZATION
STAFF REPORT AND RECOMMENDATION
PROPERTY OWNERS NAME: Shawn Shrawny & Twila Keim
PROPERTY ADDRESS: 4210 Oakview Lane N.
PID #: 14-118-22-23-0017
LEGAL DESCRIPTION: Lot 17 Block 3 Swan Lake South
PROPERTY TYPE: Residential Single Family
2007
MARKET VALUE
VALUE PRIOR TO
LOCAL BOARD
ASSESSOR'S
RECOMMENDATION
LAND MARKET VALUE 130,000 120,000
STRUCTURE MARKET VALUE 477,600 430,000
TOTAL MARKET VALUE 607,600 550,000
ASSESSMENT HISTORY 2005 2006 2007
Total Market Value 561,000 596,200 607,600
Limited Market Value 561,000 596,200 607,600
Improvement 23,000
SUBJECT PROPERTY
OWNERS CONCERNS:
The owners feel the current value is too high based on the fact they have had the property
listed at $599,900 for the past year and it has not sold. They feel the location of their
property, being a corner lot in a cul-de-sac as well as the house being angled on the lot
and on a hill are not ideal. They feel there is an odd design of floor plan in the basement.
They feel oak woodwork is also a factor in their house not selling.
The owner feels her home would realistically sell in the $550,000 to $570,000 range.
RECONCILATION OF VALUE:
I visited the property on April 16, 2007. Their neighborhood, Swan Lake South, was
reviewed during 2006 as part of our quintile process for the 2007 assessment. At that
time the appraiser that viewed the property added $23,000 for additional basement finish
that was not in our records.
At my visit Twila mentioned that today they dropped the list price on their home to
575,000.
Prior to my visit I reviewed sales of two comparable two story properties located in this
neighborhood during the past year. They are similar in size and amenities. The
properties are located at 4225 Pineview Lane and 4227 Pineview Lane. During my visit
to her home I discussed the sale of these properties and recommended her value be
reduced to $550,000. Twila Keim agreed with my recommendation.
Based on sales of comparable properties it is the opinion of this appraiser that the 2007
estimated market value be changed to:
550,000
Cindy Bowman, CMA
Appraiser
763)509-5353
cbowman@ci.plymouth.mn.us
CITY OF PLYMOUTH
LOCAL BOARD OF APPEAL AND EQUALIZATION
April 10, 2007 ® 5:30 PM
The primary focus of the Local Board of AppealandEqualization is to consider the
estimated market value and/or classification for the 2007 assessment for taxes payable in
2008. The Board is not empowered to adjust taxes.
Naive .5AO I'J'n Slt . a_,, .o T.. , "/- J/- ,
Address: q'Z!U pi o S1 •F y 2
How can we reach you: Please list your telephone numbers:
Horne743743 3 Work Cell_CeIZ kP g 3'7 0 3
Purchase Price: - i `1a, o D Purchase Date:- 1 z, / 0
Is the property currently for sale?,e s if yes, what is the asking price? V 5- °10 C7
Please list any improvements made to your property since your purchase:
2007 Estimated Market Value (from your valuation notice) SP O "7, (, 0 0
2006 Estimated Market Value (from your valuation notice) ^-7C,, z 0 p
Owner's opinion, of value$557 , oop — $ S7o 000
Your appeal must be based on evidence that the 2007 estimated market value exceeds the
true market value of your property. Please list the reasons why youbelievethat you
could not sell your property for the value stated on your 2007 valuation notice. Please
attach any documentation to support Your opinion. To reserve your right to appeal,
Please speak to a staff appraiser as soon as, possible and then return this form to the
Plymouth Assessor's office no later than Friday, April 6. -
Vccr name `kI03 611 MCCE IC.0- s.ir ce Z74 /, --G o
Do you wish to verbally address the Board? yes/Nin)
Plymouth Assessing Division
3400 Plymouth Blvd.
Plymouth, MN 55447
763-509-5.360
5-V & D
WRITTEN PRESENTATIONS #6
2007 BOARD OF APPEAL & EQUALIZATION
STAFF REPORT AND RECOMMENDATION
PROPERTY OWNERS NAME: Nate Nelson & Sara Fletcher
PROPERTY ADDRESS: 3635 Yuma La N
PID #: 17-118-22-44-0049
LEGAL DESCRIPTION: Lot 4 Block 2 Sugar Hills 2nd
PROPERTY TYPE: Residential Single Family
2007
MARKET VALUE
VALUE PRIOR TO
LOCAL BOARD
ASSESSOR'S
RECOMMENDATION
LAND MARKET VALUE 152,000 152,000
STRUCTURE MARKET VALUE 400,600 370,600
TOTAL MARKET VALUE 552,600 522,600
ASSESSMENT HISTORY 2005 2006 2007
Total Market Value 483,800 $522,600 $552,600
Limited Market Value
Improvement
SUBJECT PROPERTY
M
DIAGRAM
jB_..2.
L3p7 'a 10
11.1
2
12 22.5
14 GP
12.5
le
8
19
24.5
7
17
22 GARAGE I a l X575 8.5
17 3.5 14
Dimensions
1/B 1,758
OH 9
FOOTPRINT 1,767
GBA 1,767
Amenities
DECK 152
SP 168
OP 45
Garage
ATTACHED 777
Subject Location Map
SALES COMPARISON ADJUSTMENT GRID
Subject Comparable #1 Comparable #2 Comparable #3 Comparable #4
ADDRESS: 3635
Yuma La
N
4410WestonLaN 3400
Ranier Ln N
3400
Queensland
16215
37'h Ave. N
PID# 17-118-
22-44-
0049
17-118-22-11-0030 19-118-22-12-0005 19-118-22-12-0009 17-118-22-44-0057
SALE DATE:
NA Feb. 06 Jan. 06 Jan. 06 Nov. 06
SALE PRICE: NA 556,500 605,000 542,500 725,000
TIME
ADJUSTMENT: 7235 9075 8138
ADJ.SALE PRICE: 563,735 614,075 550,638 725,000
TYPE OF BLDG: Rambler Rambler Ramb. Ramb. Ramb. -
ABOVE GRADE
FINISH 1767 2341 (57400) 2353 (58600) 1790 2294 (52700)
QUALITY; A. AvgA. Avg - A. Avg A. Avg A. Avg
AGE: 1997 1993 11275 1993 12282 1994 8260 1996 -
CONDITION: Good Good - Good - Good - Good -
BEDROOMS: 3 4 (3000) 4 (3000) 4 (3000) 5 (6000)
OF BATHS 3 3 - 4 (3000) 3 - 5 (6000)
FIN. BSMT. AREA. 1400A 1200AA (7000) 2047AA (36645) 141OAA (14350) 2054AA (36890)
WALKOUT: Yes No (5000) Yes - Yes - Yes -
FIREPLACES: 2 3 (5000)
3
2 1 5000 3 (5000)
GARAGE: 3 Car 3 Car Car 3 Car - 3 Car I -
DECK: Yes Yes - Yes - Yes - Yes -
PORCHES: SP No 12000 No 12000 No 12000 GP (6000)
NET
ADJUSTMENT: 44,125) 76,963) 7910 112590)
ADJ SALE PRICE: 519,610 537,112 558,548 612,410
INDICATED VALUE AS OF JANUARY 2,2007:
5522,600
V1VIYAKAISEE
COMPARABLE #1
4410 Weston La N COMPARABLE#2
3400 Ranier La N
COMPARABLE #3
3400 Oueensland Ave N
COMPARABLE #4
16215 3f Ave N
VALUE CONCLUSION
LOCATION: Property is located in the Sugar Hills Subdivision, an upper
bracket single family residential neighborhood. The lot is an interior
location buffering the property from the noise of Vicksburg Lane to the east.
SITE: The site is typical for the neighborhood. Curb appeal is enhanced
by tasteful landscaping similar to the surrounding area.
IMPROVEMENTS and FEATURES: The site is improved with a single
level residential home. It features a deck and screen porch as well as
architectural appeal. The home was built in 1997 and consists of 1,767
square feet above grade.
OWNERS CONCERNS: Owners are concerned with the recent market
trends that they are seeing in their immediate neighborhood. They feel that
sale prices are being reduced drastically and larger homes are selling for less
than what their home is currently valued at for the 2007 assessment.
COMPARABLE #1
This comparable was chosen for it's location in the Fawn Creek subdivision, a
similar neighborhood of similarly constructed homes. The characteristics of this
property allow it to be readily adjustable to the subject property. However, the
amount of the adjustments is larger than what is acceptable in this case.
COMPARABLE #2
This comparable is located in Boulder Crest, a similar neighborhood near the
subject property. It is the largest of the comparable properties in above grade
square footage. But, it is a similar rambler with similar characteristics to the subject
property.
COMPARABLE #3
This comparable is also located in the Boulder Crest subdivision. It is the
comparable that stands above the rest because of the relatively small amount of
adjustments made to it. It is a walkout rambler of nearly equal size and
appointments.
COMPARABLE #4
This sale was chosen for its location in the Sugar Hills neighborhood and it's recent
sale. It also has a similar style kitchen with similar bleached Maple cabnitry. The
sale date is past the study period for this assessment but does demonstrate the
strength of the market in some segments. This comparable was given the least
consideration because of the amount of adjustments.
RECONCILATION OF VALUE: The subject property was compared to
similar single family residential properties on one level. The adjustment
grid included in this report demonstrates the differences between the subject
property and the recent sales. The owners have used comparisons of which
one is a townhome and the other two are two story homes, one in need of
repairs, in the adjacent neighborhoods. It is note worthy that the subject
property was not listed on the MLS prior to the sale to the current owners in
Sept. 2005 for $505,000. Based on the information in this report it is the
opinion of this appraiser and agreed upon by the owner, that the value be
reduced to:
5522,600
Michael VanderLinden CMA
Appraiser
763)509-5356
mvanderl@ci.plyinouth.mn.us
Comparable Sales Map
N
C, it of This represents a cu.,.P;:=tion of information and
W E
data from city, county, state and other sources that has 8notbeenfieldverified. Information should be field
Plymouth, M N verged and compared wdh origianl source documents.
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Comparable Sales Map
N
C, it of This represents a cu.,.P;:=tion of information and
W E
data from city, county, state and other sources that has 8notbeenfieldverified. Information should be field
Plymouth, M N verged and compared wdh origianl source documents.
I
CITY OF PLYMOUTH
LOCAL BOARD OF APPEAL AND EQUALIZATION
April 10, 2007 @ 5:30 PM
The primary focus of the Local Board of Appeal and Equalization is to consider the
estimated market value and/or classification for the 2007 assessment for taxes payable in
2008. The Board is not empowered to adjust taxes.
Name_ ZAI-r /r51 S0 i SIA4 f /mac 4 /
Address: -gi5— XVIV114t 1111
How can we reach you: Please list your telephone n t /
Home Work/2 6`7oZ 3610 Cell 60 !5969
Purchase Price: SDS, Uco, Purchase Date:
Is the property currently for sale? Nu If yes, what is the asking price?
Please list any improvements made to your property since your purchase:
NO J 45"
2007 Estimated Market Value (from your valuation notice) SS2
2006 Estimated Market Valug (from your valuation notice) -' 6ao
Owner's opinion of value_ -4 y?S- 1)6t,
Your appeal must be based on evidence that the 2007 estimated market value exceeds the
true market value of your property. Please list the reasons why you believe that you
could not sell your property for the value stated on your 2007 valuation notice. Please
attach any documentation to support your opinion. To reserve your right to appeal,
please speak to a staff appraiser as soon as possible and then return this form to the
Plymouth Assessor's office no later than Friday, April 6.
2a+917T c s L / %uu ,i %1?Ucff L9 6c' ffo r nn/ Ai t:7 1l- AAr1j;;
s1r Lrrtu ourP 3S 29w,91?//.r G1 A/
Do you wish to verbally address the Board? Yes
Plymouth Assessing Division
3400 Plymouth Blvd.
Plymouth, MN 55447
763-509-5360
Written Presentation #7
2007 BOARD OF APPEAL AND EQUALIZATION
STAFF REPORT AND RECONMENDATION
PROPERTY OWNERS NAME:
TAXPAYER:
PROPERTY ADDRESS:
PID #:
LEGAL DESCRIPTION:
PROPERTY TYPE:
Pauly Enterprises Inc.
HI Enterprises
2995 Harbor Lane
22-118-22-32-0018
Lengthy
Automotive Service
2007 VALUE PRIOR TO ASSESSOR'SMARKETVALUELOCALBOARDRECOMMENDATIONLandValue594,600
Structure Value 682,400
Total Market Value $1,277,000 No Chan e
ASSESSMENT HISTORY
Total Market Value
Limited Market Value
Improvement
2005
947,000
I Not Applicable
1 Not A -licable
2006
982,000
Not A licable
Not Ap licable
2007
1,2
Not E
Not E
View of 2995 Harbor Lane, Plymouth Minnesota, the Subject Property.
Page 1 of 20
Location Written Presentation #7
Location
The property is located in a commercial neighborhood in the northwest corner of Interstate 94 and
Highway 55. This well established area is improved with a complement of commercial and service uses. Holiday Service Station is to the west, Children's World to the Northwest, The Comfort Inn and new
Axel's restaurant to the north, Master Collision to the east, Perkins to the southeast, Days Inn to the
south, and Wells Fargo to the southwest. A new self storage facility is under construction to the
southeast. As of the assessment date, the subject was visible from Highway 55 and Interstate 494. However, knowing the Subject would no longer benefit from the excellent exposure to the
Highway or Interstate; neither the assessment nor this analysis attributed any value which waspresentonthedateoftheassessment.
Page 2 of 20
Written Presentation #7
Site
Site
The site contains 41,546 square feet or approximately .95 acres. The site has approximately 190' alongHarborLaneand229' along Empire Lane. The site is generally rectangular in size and with a land tobuildingratioofapproximately5.1:1 (not including the enclosed storage area); there is no excess orsurplusland. The site has good access, visibility and functional utility. The site is typical for the areaanduse, and there are no known detrimental uses in the immediate vicinity.
Page 3 of 20
Written Presentation #7
Subject Photographs
View of the Subject Property. The property was built in 1993 and contains 9,184 square feet of gross building
area. The front of the building, facing Harbor Lane, contains the retail; reception and waiting areas are on the
main level; the second level is built out with office space.
View of the Subject from the east across Empire Lane. The property is in very good condition for its age.
The building contains approximately 43% office finish, 46% automotive service and storage, and 11%
unheated storage and trash enclosure.
Page 4 of 20
Written Presentation #7
View of Subject from the southeast. The unheated portion of the building along the south side containsapproximately1,000 square and is considered to contribute only a nominal value. As such, our analysis inbasedonabuildingsizeof8,184 square feet.
View of Subject from the Northwest on Empire Lane. The property is zoned C-3. The property is aclass "C" concrete block building and has been well maintained.
Page 5 of 20
LTV rok 1W,.. wromi
Written Presentation #7
1f s.
Ol r 'SEAQ
1
1
I
I
c,— _
Improvements I
The property is improved with a 9,184 square foot automotive service building. The building size, exclusive oftheunheatedofficeareais8,184 square feet, which has been used in our analysis. The building was constructedin1993ofdecorativeconcreteblock. The two story area has a glass front with retail on the lower level andofficeontheupperlevel.
Overall, the subject structure is considered to be in very good condition the age, has a good layout andimprovementdesign, as well as appealing interior and exterior amenities. Additionally, there are no knownfactorsthatcouldbeconsideredtoadverselyimpactthemarketabilityoftheimprovements.
Page 7 of 20
Written Presentation #7
According to Minnesota Statutes, the value of the property is to be based on 100% of the market value of theproperty. Furthermore, the market value is to be based on the fee simple interest of the real estate. That is thevalueofthepropertyunencumberedandsubjectonlytothelimitationsimposedbygovernmentalpowers.
Current appraisal standards recognize three basic approaches to real estate value. These are identified as the Cost, Income, and Sales Comparison Approaches.
The Cost Approach to value is developed by two fundamental opinions: the value of the land and the value oftheimprovementstotheland. Initially, the current fair market value of the land is estimated as if unimprovedandcapableofbeingputtoitshighestandbestuse. The reproduction or replacement cost new of theimprovements, less any depreciation, is then added, along with any contributory value of the siteimprovements. The validity of the resulting value estimate is impacted to varying degrees by the accuracy ofthecostestimatesandthedepreciationestimate. The cost approach is most effective when the property isnew. Because the property is 14 years old, we have not included a cost approach in our presentation.
The Sales Comparison Approach is based on comparison between the subject property and similar properties
which sold within a reasonable period prior to the date of appraisal, and which are capable of providinginsightintothevaluationofthesubjectproperty. Units of comparison are examined and developed and aftermakingtheappropriateadjustmentfordifferencessuchasLocationandphysicalcharacteristics, are then
applied to the subject to derive an indication of value. Critical in this valuation methodology, is theavailabilityofsufficientmarketcomparableswithwhichtomakevalidcomparisons. The commercial realestatemarkethasbeenveryactiveoverthepastfewyearsand, as such, ample sales have occurred. We haveselectedandanalyzedthemostcomparablepropertiesintermsofage, condition, and prospective buyer.
The Income Approach measures value by capitalization of the net income from the real estate. The potentialgrossincomeisfirstestimatedbasedondataderiveddirectlyfromthemarket. Deductions are then made forvacancyandcollectionloss, and normal operating expenses. The resulting net income figure is then
converted to a value estimate by any one of several capitalization methods. Although the subject is typical of
an owner occupied property, the income approach represents and alternative valuation from both an investors
and users perspective. We requested the operating characteristics of the property, however such informationwasnotprovidedforourreviewandanalysis. We were able to identify lease rates, operating expenses andcapitalizationratesofsimilartypesofpropertiesinHennepinCounty, and throughout the metro area.
Page 8 of 20
Sales Written Presentation #7
The Sales Comparison Approach to value compares the subject to similar properties that have sold or are undercontractinthesameorsimilarmarket. This approach is based on the principle of substitution, which states thatnocommodityhasavaluegreaterthanasimilarcommodityofferingsimilaruses, similar utility, and similarfunctionthatcanbepurchasedwithinareasonabletimeframe. In other words, the market value of a property issetbythepriceofacquiringasubstituteproperty, which could provide the owner with similar utility. Theprincipleofsubstitutionalsoiscrucialinreconcilingallthreeapproachestovalue, as it provides linkage in theunderlyingdeterminationthesubject's market value.
Units of Comparison
Using a common unit of comparison is an effective device to adjust for differences in physical characteristicswhilecontrollingforscaleorsomeotherfactor. This control allows the appraisers to determine the impact ofdifferencesinattributesbetweenthesubjectandcomparablesaleproperties.
As for the subject, we discussed recent market transactions with area brokers, as well as evaluating the physicalattributesofthesubject's use type. In both instances, the predominant unit of comparison was sale price persquarefootofgrossbuildingarea. The subject property has a gross building area of 9,184 square feet. Because1,000 square feet is not heated and includes storage and the trash area, and the comparable do not have similarareas, we have not included this area in our estimate of GBA for comparison (or income) calculations
Elements of Comparison
There are eight major comparison categories that must be considered in the direct sales comparison approach. These include the following:
1. Property rights conveyedDateofSale2. Financing
3. Conditions of Sale
4. Expenditures made after saleTrendForward5. Market Trends
6. Location of Sale PropertyAppraisalEffectiveDate7. Physical Attributes
8. Economic Attributes
Each of these categories have been considered and adjusted for.
Sale Collection Results
Of the sales reviewed, based on the above criteria, the sales presented on the following pages represent the bestavailablefromthemarkettodeterminethesubject's market potential under this valuation approach. While some aremoreidealthanothers, we believe that they represent a sufficient sample of the data reviewed to illustrate a soundmarket-based conclusion for the subject.
A map illustrating each of the location is presented on the following page. Each of the sales are summarizedbeginningonpage11.
Page 9 of 20
cu
0
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T 4 4i 3 i t•. - w
Y
r
Sales
Written Presentation #7
1
Auto Service Facility
21025 Diamond Lake Road South
Rogers, Minnesota
Tax IDs: 14-120-23-44-0018
Property Type:
Sale Price: $905,000
Recording Date: 1/6/06
Conditions of Sale: Open Market/Listed for
sale
Rights Conveyed: Fee Simple
Grantee: C2 & Company, LLC
Grantor: Aill and Gladys Dahlheimer
Size: 5,356 SF
Financing Cash Equivalent
Auto Service
Sale Price/SF GBA: $161.76 /SF GBA
Sale Comments: Tobe owner occupied.
2001 Masonry built building. After accepting offer, the buyer had other
higher offers. Includes 3 bay car wash of 2,880 sf. Oil equipment famished
by supplier and removed prior to sale. $50,000 of personal property.
Page 11 of 20
Written Presentation #7
Sale Price:
Recording Date:
Conditions of Sale:
Size:
Grantee:
Grantor:
Financing
2
Auto Center
8216 Lakeland Avenue North
Brooklyn Park, Minnesota
Tax IDs: 19-119-21-13-0026
Property Type: Auto Service
1,100,000
12/21/05
Open Market
7,284 SF
904 — 79h Street Partnership
Kerry & Susan Adelman, et al
Cash Equivalent
Sale Price/SF GBA: $151.02/SF
This is a 1987 wood frame building. Property was on the market for two
Sale Comment: years prior to this purchase. Original list price was $1,600,000. Buyer
negotiated sale price. Buyer changed the use to an auto body and is puttingapproximately $800,000 into renovations.
Page 12 of 20
Written Presentation #7
Sales Comparison Approach
Page 13 of 20
Com arable Sale #3
Location Information
Carl's Goodyear Tire
5500 West Broadway
Crystal, Minnesota
Tax IDs: 05-118-21-44-0047
Property Type: Industrial
InformationSale
Sale Price: 1,100,000 Sale Price/SF GBA: $166.67
Recording Date: 11/8/05
Conditions of Sale: Open Market
Size: 6,600SF
Grantee: B&D Property Holdings, LLC
Grantor: DR Investments
Financing
Description: Cash Equivalent
Seller wanted to get out of the tire business. Seller let people know via word
of mouth. Another Goodyear dealer, American Tire, who has six other metro
Sale Comment: locations, is the buyer. Negotiated deal. Additional money was paid to for
the business and equipment. The building was in good condition with an
updated reception area. In an appraisal done for the buyer, the fee simple
interest in the real estate was $1,140,000 in July, 2005.
Page 13 of 20
The sales were adjusted as follows:
Industrial Sales Adjustment Grid
Written Presentation #7
Comparable # Subject 1
Cash
Address 2995 Harbor Lane 21025 Diamond Lake Rd
2
8216 Lakeland Ave 5500 W Broadway
Sale Date
Plymouth Rogers Brooklyn Park Crystal
Year Built
Jan -07
1988
Jan -06 Dec -05 Nov -05
GBA 8,184
2001 1987 1985
Clear Height 14
5,356 7,284 6,600 , 600
Land Area 40,000 39,606
14 13 13
Land:Bldg
Adjushnent/SF
14000
74,100 32,727
Ratio
Actual Sale
4.9 7.4 10.2 5.0
Price
Adjusted Price
1)
905,000 1,100,000 1,100,000
Adj Price/SF
Similar
905,000 1,100,000 1,100,000
1)
Adjustment/SF
Inferior Inferior Similar
Property
Rights
Financing
Terms
151.02
Fee Simple Fee Simple Fee Simple
0.0% 0.0%0.0%
Page 14 of 20
Cash Cash Cash
0.0% 0.0% 0.0%
Conditions of Sale Non Realty/Special
Assessments Open/No Duress Open/No Duress
Market Conditions (mos)
4.3% 0.0% 0.0%
12 12 14
Adj Price/SF
4.0% 4.1% o4.6/0
Size
168.47 157.21 174.37
Size
Smaller Smaller Smaller
Adjushnent/SF
14000 5,000 8,000
Additional Storage
2.60 0.70 1.20
Age/Condition Area
Adjustment/SF
Similar Similar Similar
Location 0.00 0.00 0.00
Adjustment/SF
Inferior Inferior Similar
Land:Bldg 8.00 8.00 0.00
Ratio
Adjustment
Similar Surplus Land Similar
Adjushnent/SF
0.00 56,500 0.00
Clear Height
0.00 8.00 0.00
Adjustment/SF$
000
Similar Similar Similar
Condition Good
0.00 0.00 0.00
Adjitshnent/SF
Average Poor Good
Layout/Design/Function
0.00 15. 00 0.00
Adjushnent/SF
Similar Similar Similar
TotalOtherAdustments
0.00 0.00 0.00
Indicated Value/SF
5.40 14.30 1$3.20
173.87 171.51 173.17
Page 14 of 20
Written Presentation #7
Prior to adjustments for items of difference, the prices per square foot ranged from $151.02 to $168.97.
After adjustments for various items of difference, the indicated range narrowed to between $171.51 and $173.17persquarefoot, averaging $172.85. As a result of this analysis, we have concluded the unit value for thesubjectpropertyis $170.00 per square foot of gross building area.
Gross Building Price per Sq.
Area Ft.
8,184 X $173.00
Resulting Rounded
Value Value
X $1,415,832 $1,415,000
Page 15 of 20
Before After
Adjustments Adjustments
Maximum 168.97 173.17
Minimum 151.02 171.51
Mean 162.22 172.85
Median 166.67 173.17
After adjustments for various items of difference, the indicated range narrowed to between $171.51 and $173.17persquarefoot, averaging $172.85. As a result of this analysis, we have concluded the unit value for thesubjectpropertyis $170.00 per square foot of gross building area.
Gross Building Price per Sq.
Area Ft.
8,184 X $173.00
Resulting Rounded
Value Value
X $1,415,832 $1,415,000
Page 15 of 20
Written Presentation #7
The income approach to value is predicated on the premise that the property is designed to return a flow of
income to the owner when properly developed. The theory of the income approach advocates that the value of
the property is the present worth of the net income it will produce during the remainder of its economic life. An
investor or perspective purchaser should consider the income producing ability of the property and the expectedreturnonhisinvestment.
The income approach measures market value by determining the price that open market conditions would
justify paying for a particular property's net income stream. This is specifically accomplished for an appraisalbydiscountingtheproperty's projected net income into present value by use of a capitalization rate derived
from sales of comparable properties. The property's net operating income is the key term.
Net operating income is generally arrived at through a process that determines prevailing open market rents,
rates of vacancy and collection loss, and expenses necessary to operate the property and service the tenants.
Prevailing market rates of vacancy and collection loss and operating expenses are deducted from prevailingmarketrenttoproducetheproperty's projected net income.
It is important to note that: (1) Vacancy and collection loss is a projection over the entire economic life of the
property, not that which occurs at a given point in time, (2) For appraisal purposes, income taxes, depreciation,
debt service, capital improvements, franchising fees, and business expenses of the owner are excluded from
operating expenses since they are expenses of the owner and not of the property, (3) The proper rental for the
property is that prevailing in the marketplace as of the appraisal date and not that which is carried over from oldleasearrangements.
Economic net income is converted to a value indication under this approach by application of an overall
capitalization rate, which is derived from market sales occurring during the applicable period, as well as
comparison with prevailing market data. The overall rate includes provisions for a market rate of return on theinvestmentaswellasrecaptureoftheinvestment.
As a part of the review process, historic operating information was requested however not provided.
Potential Gross Income
In order to estimate the Potential Gross Income(PGI) of the subject we have surveyed and analyzed a number of
rents throughout Plymouth as well as surrounding metropolitan areas. The comparable rentals were selected
based on their similarity to the subject in location and physical characteristics, particularly with respect to their
age/condition, quality of construction, size, and general location. Automotive service properties generally rentbetween $15.00 and $20.00 per square foot, one service facility is renting as low as $10.00 per square foot.
Another method and a means of comparison is a percentage rent which ranges from 6% to 10% for automotivefacilities.
Adjustments were then made to the comparables to account for differences in location characteristics and
physical characteristics. We concluded a market rate of $16.50 per square foot.
Vacancy and Collection Loss
The subject property type is typically leased on a long -tern lease basis, of typically 10 years minimum for
existing facilities. A typical lease would include renewal options that require advance notice to the lessor as towhethertheoptionwillorwillnotbeexercised.
Page 16 of 20
Written Presentation #7
The subject is currently 100% occupied, however the current vacancy for industrial property ranges from 5% to10%. Given a lease term of 10 years, it would not be uncommon for an automotive service facility to be vacantforeighttotenmonthsintoday's market. Using a nine month shelf life on a ten year lease, over a ten yearholdingperiodthevacancywouldbeapproximately7.5% (9 months/ 120 months).
Reimbursable Expenses
All rents are basically triple net. Real estate taxes have been based on the estimated value of the subject and anapproximatedeffectivetaxrate.
Estimated Gross Income
After the vacancy and collection losses are subtracted from the Potential Gross Income we have the EstimatedGrossIncome (EGI).
Expenses
As previously mentioned, all rents are basically triple net with the tenant being responsible for all electrical andjanitorialservices. The only costs borne by the landlord are the expenses on the vacant space, capital items, and
ownership expenses.
The resulting expense ratio for the property appears to be in line with the market as reflected through the review
of many operating statements over the years.
After deducting the expenses from the income stream generated by the property as of this writing the NetOperatingIncomeisrevealed.
Capitalization Rate
The overall capitalization rate is simply the ratio of net annual income (before recapture and debt service) to
value. It is that fraction of the total investment which must be collected each year, on the average, to service the
debt (principal and interest), yield the required dividends (cash flow and equity build-up), and compensate forappreciationordepreciation.
We have reviewed over the capitalization rates of 14 auto service facilities which sold between January 2004andDecember2006throughouttheTwinCities. The capitalization rates ranged from 4.1% to 9.8% with a
median capitalization rate of 8.05% and an average of 7.86%.
Consideration has been given to the relative risk that the subject property represents to a potential investor, andafinalcapitalizationrateof8.0% is selected as most appropriate, considering all relevant aspects of the
subject's economic environment and the relative age of the subject. The 8.0% rate is well supported by alltechniquesutilizedinitsdetermination, and will accordingly be applied within the pro -forma analysis on thefollowingpage.
Page 17 of 20
2995 Harbor Lane
Initial Net Rent
Operating Expenses
Taxes
Total Gross Rent
Total Gross Rent
Totals
Potential Gross Income
Less: Vac. & Credit
Less: Operating Expenses
Real Estate Taxes
Overall Cap. Rate
Tax Rate
Written Presentation #7
Total Rental Total Gross
SF Rate $/SF Rent
8,184
16.50
5.00
6.00
27.50
225,060
8,184 225,060
225,060 225,060
Indicated Market Value (Stabilized)
Rounded to
3.53% (49,080)
Zli 167,261 I $ 118,1--
8.50% 8.50%
3.53% 0.00%
12.03% a enol
1
1
Page 18 of 20
CITY OF PLYMOUTH
LOCAL BOARD OF APPEAL AND EQUALIZATION
April 10, 2007 @ 5:30 PM
The primary focus of the Local Board of Appeal and Equalization is to consider the
estimated market value and/or classification for the 2007 assessment for taxes payable in
2008. The Board is not empowered to adjust taxes.
Name
Address:
How can we reach you: Please list your telephone numbers:
Home Work ,`_ l Cell
Purchase Price: Purchase Date: + ,);t
Is the property currently for sale? f, >
J r 1
p p y y If yes, what is the asking price?
Please list any improvements made to your property since your purchase:
1<('PIo?Vi9e I (U`-%! S CO Y i1CI
2007 Estimated Market Value (fro n your valuation notice) ! , 7 7 6 o C
2006 Estimated Market Value (from your valuation notice) 9
Owner's opinion of value_Lc_ c j 4,.„,t t lok', J i ho 1
Your appeal must be based on evidence that the 2007 estimated market value exceeds the
true market value of your property. Please list the reasons why you believe that you
could not sell your property for the value stated on your 2007 valuation notice. Please
attach any documentation to support your opinion. To reserve your right to appeal,
please speak to a staff appraiser as soon as possible and then return this form to the
Plymouth Assessor's office no later than Friday, April 6.
17,.11d 4-o
r', ltik illi lr Lt. Oc_!i-,_.a.' -/-Z,riejli's e. Alc .b
U,; , 11011 Vtq
Do you wish to verbally address the Board? Yes No
Plymouth Assessing Division
3400 Plymouth Blvd.
Plymouth, MN 55447
763-509-5360
Written Presentation #7
Reconciliation
The market value indications of the fee simple interest as of January 2, 2007 for the two approaches to value
utilized in this appraisal are as follows:
SALES COMPARISON APPROACH: $1,415,000
INCOME APPROACH: $1,390,000
In correlating the two approaches into a final estimate of value, we have considered the purpose of the appraisal,
the age and type of property, and the adequacy of data processed in each of the approaches. These
considerations influenced the weight to be given each approach.
In our opinion, most weight should be given to the sales comparison approach, with secondary consideration
given to the income approach. As a result of this appraisal, it is our opinion that the estimated market value of
the fee simple interest as of January 2, 2007 is as follows:
THE INDICATED VALUE AFTER CONSIDERING ALL APPROACHES IS:
ONE MILLION FOUR HUNDRED THOUSAND DOLLARS .... $1,400,000
Based on the preceding review and analysis, it is our opinion the estimated market value for
the subject property as of January 2, 2007 is well supported and recommend No Change.
i
Janene Hebert, SAMA
Commercial Appraiser
City of Plymouth
763-509-5352
jhebert@ci.plymouth.mn.us
Page 20 of 20
WRITTEN PRESENTATION #8
2007 BOARD OF APPEAL & EQUALIZATION
STAFF REPORT AND RECOMMENDATION
PROPERTY OWNERS NAME: Clinton & Clarene Asche
PROPERTY ADDRESS: 18005 201h Ave. N.
PID #: 30-118-22-13-0024
LEGAL DESCRIPTION: Lot 4 Block 7 Imperial Hills
PROPERTY TYPE: Residential Single Family
2007
MARKET VALUE
VALUE PRIOR TO
LOCAL BOARD
ASSESSOR'S
RECOMMENDATION
LAND MARKET VALUE 93,000 93,000
STRUCTURE MARKET VALUE 266,800 242,700
TOTAL MARKET VALUE 359,800 335,700
ASSESSMENT HISTORY 2005 2006 2007
Total Market Value 324,800 350,400 359,800
Limited Market Value 324,800 350,400 359,800
Improvement
SUBJECT PROPERTY
SUBJECT PROPERTY
St Ht Dimensions S Ft
1B 26 x 50 = 1300
1/B 2 x 32 = 64
1/C 20 x 28 = 560
1/C 2 x 18.5 = 37
Ground FI. Area 1961
Deck
Deck 8 x 44 = 352
Deck 8 x 20 = 160
Deck 8 x 22 = 176
Total
Deck
Area
688
Gara¢es
Garage 23.5 x 25 = 587
Diagram
SUBJECT LOCATION MAP
0
SALES COMPARISON ADJUSTMENT GRID
Subject Comparable 41 Comparable #2 Comparable #3
ADDRESS: 18005 20'"
Ave. N
18510 22" Ave. 18105 20` Ave. 2810 Alvarado La.
PID# 30-13-0024 30-24-0043 30-13-0026 19-33-0005
SALE DATE: 5/8/06 3/29/07 12/2/05
SALE PRICE:
TIME ADJUSTMENT:
ADJ.SALE PRICE:
345,350
2,417
347,767
290,000 367,900
Recent sale 5,518
290,000 373,418
ADJ.SALF./SQ FT:
TYPE OF BLDG: Split Entry Split Entry Split Entry
ABOVE GRADE
FINISH
1961 1435 23670 1176 35,32521555
QUALITY; Average AvgAvg. RAb.Avg
AGE: 1969 1968 1969 8106)
CONDITION: Avg. Avg. - Avg. 20000)
BEDROOMS: 3 5 (6000) 3 3000)
OF BATHS 3 3 - 2 3500 3
FIN. BSMT. AREA: 1250 1310 856 9850 1512 (6550)
WALKOUT: No Yes (3000) Yes (3000) Yes (3000)
FIREPLACES: 3 2 3000 1 6000 2 3000
GARAGE: 2 2 - 2 - 2
DECK: Yes Yes - Yes - Yes -
LOCATION: Pond (10000)
FUNCTIONAL-
OVERBUILT 5%)
11410) 9255) 11580)
NET ADJUSTMENT: 6,260 42420 37681)
ADJ SALE PRICE: 354,027 332,420 335,737
ADJ SALE /SQ FT:
Median Adj. Sale Price = 335,700
COMPARABLE
COMPARABLE #1
1851022 Id Ave.)
COMPARABLE #3
2810 Alvarado Lane)
COMPARABLE #2
18105 20" Ave.)
Comparable Sales Map
N
City of This represents a compilation of information and w E
data from city, county, state and other sources that has 8
Plymouth, M N not been field verified. Info m giant should be fieldverifiedandcomparedwithorigianlsourcedocuments.
3
29TH AVE. z01
qVE.
COMP #3m 27TH PL
z
27THAV Eas
TH27TH11VE.--.-.
G
27TH AVE QUEENSVP -
o__.
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26TH AVE-_
26THAVLN
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J G
25TH AVE mS
z
2YT
gV£ SHADYV\44/ R
Ov_ L_ 24TH-/
T
24TH AVE..
COMP #1 AVE- 23RD AVE.-
23RD2\3 D
o
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SUBJECT
co 822ND AVE m
9_..
XZ:)
R0 COMP#2 21ST AVE
0 J
z
OTH AV
920THAVE
Comparable Sales Map
N
City of This represents a compilation of information and w E
data from city, county, state and other sources that has 8
Plymouth, M N not been field verified. Info m giant should be fieldverifiedandcomparedwithorigianlsourcedocuments.
COMPARABLE #1
This property is located at 18510 22nd Ave. It is located in the Imperial Hills subdivision,
approximately 3 blocks from the subject. This home is a split level, 1435 sq.ft. above
grade. (This home was the same approximate size as the subject before the subject added
the large family room.) It was built in 1968. This home has 3 bedrooms on the main level
and one full bathroom and two'/4 bathrooms. It has two fireplaces, basement finish, a 2
car garage and a deck. This home features two additional bedrooms in the basement level
as well having as a walkout elevation. To my knowledge, this home is of average
condition with no major remodels.
COMPARABLE #2
This property is located at 18105 20`h Ave. It is also located in the Imperial Hills
subdivision, two houses from the subject. This home is a small split level style, with
1176 sq.ft. above grade. It was built in 1969. It has 3 bedrooms and 1 and 1/4 bathrooms.
It features 1 fireplace, basement finish, a 2 car garage, deck and a walkout elevation. It
has had no major remodels.
COMPARABLE #3
This property is located at 2810 Alvarado Lane. It is located in the Greentree West
subdivision, approximately 1 anile north of the subject. It is a split level home, built in
1976 with 1482 sq.ft. above grade. It has 4 bedrooms, 1 and '/4 baths, and basement
finish. It features two fireplaces, a 2 car garage, deck and walkout elevation. This home
is in above average condition because it has had a recent kitchen remodel. This home has
a pond view.
VALUE CONCLUSION
LOCATION:
The subject property is located in hnperial Hills subdivision. It is approximately 1/2 mile
north of County Road 6 and '/ mile west of County Road 101.
SITE:
The site is approximately % acre in size with a few mature trees. The elevation is higher
at the back of the property, gradually sloping to the street.
IMPROVEMENTS and FEATURES:
The split entry home was built in 1969. As originally built it had 1364 sq.ft. above grade.
A one story, 597 sq.ft. family room addition was added and completed in 2003. It is
approximately 20 x 28 feet in size. The current total sq.ft. above grade is 1961 sq.ft.
The home has 3 bedrooms, 1 and'/4 bath on the main floor. The home features a fireplace
in the living room as well as the new family room. It has a finished basement with a
recreation room with fireplace, laundry room, an additional 3/4 bath, and two additional
rooms. Because of lack of legal egress window size, these rooms can not be used as
bedrooms. This home does not feature a walkout elevation. The home has a two car
garage and deck.
OWNERS CONCERNS:
Mr. Asche feels he is being unfairly assessed on his home due to the 597 sq.ft. addition he
completed in 2003. Based on market values of 2 story homes with approximately 200
less sq.ft. he feels he is being assessed at $50 to $60,000 for this additional square
footage.
Mr. Asche stated his realtor estimated his value to be in the $315 — 320,000 range.
RECONCILATION OF VALUE:
I visited and viewed the interior of the subject property on April 12, 2007. The original
part of the home that was built in 1969 is in its original condition. The main floor of the
home is well maintained and cared for, however there has been no updating or
remodeling since the house was built. In 2003 a very large family room addition was
added to the property. The room is approximately 20 feet x 28 feet, almost 1/2 the size of
the original home. This room is an asset to the home, however I feel it is overbuilt in size
for the home and for the neighborhood. The basement finish of the home is of average
quality for a basement being finished in 1969, however there was evidence of deferred
maintenance.
At the time of my visit Mr. and Mrs. Asche shared a recent realtor's market analysis of
their home. Two story homes were included in the analysis as well as active listings. I
explained I would be looking at split level home sales from our time period of October 1,
2005 through September 30, 2006. I explained the new, active listings would be sales we
would consider for the 2008 assessment. Mr. Asche shared with me a very recent sale
from March 29, 2007 that we do not yet have in our records. Because this sale was a split
level home located two houses away from his, and because I only had one split level
home sale from his neighborhood during the time frame for the 2007 assessment, I agreed
to use this sale in my sales comparison study.
In making my adjustments on the comparable sale properties I included a 5% adjustment
to the building value of the subject properties for functional obsolescence because I feel
the large size of the family room addition on the subject property is overbuilt for his
neighborhood.
The median adjusted sale price of the comparable properties is $ 335,700.
Based on the interior inspection, the over -sized family room addition, and the adjusted
sale prices of the comparable homes I recommended to Mr. Asche on April 18, 2007 that
his value be reduced. He agreed with this appraiser's recommendion to adjust the
property's estimated market value to:
335,700
Cindy Bowman, CMA
Appraiser
763)509-5353
cbowman@ci.plymouth.mn.us
CITY OF PLYMOUTH
LOCAL BOARD OF APPEAL AND EQUALIZATION
April 10, 2007 @ 5:30 PM
The primary focus of the Local Board of Appeal and Equalization is to consider the
estimated market value and/or classification for the 2007 assessment for taxes payable in
2008. The Board is not empowered to adjust taxes.
Address: 164-06— 1; X)
How can we reach you: Please list your telephone number:
Home ZL 3- -372 Work Cell
Purchase Price: Purchase Date:
Is the property currently for sale? 00 If yes, what is the asking price?
Please list any improvements made to your property since your purchase:
A00.-1 7" C O uJ LL- ZOO 2,
2007 Estimated Market Value (from your valuation notice) 3SyZFpy
2006 Estimated Market Value (from your valuation notice) .3 sal #o D
Owner's opinion of value
Your appeal must be based on evidence that the 2007 estimated market value exceeds the
true market value of your property. Please list the reasons why you believe that you
could not sell your property for the value stated on your 2007 valuation notice. Please
attach any documentation to support your opinion. To reserve your right to appeal,
please speak to a staff appraiser as soon as possible and then return this form to the
Plymouth Assessor's office no later than Friday, April 6.
Do you wish to verbally address the Board? Yes
Plymouth Assessing Division
3400 Plymouth Blvd.
Plymouth, MN 55447
763-509-5360
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WRITTEN PRESENTATION # 9
2007 BOARD OF APPEAL & EQUALIZATION
STAFF REPORT AND RECOMMENDATION
PROPERTY OWNERS NAME: Habib Tajik
PROPERTY ADDRESS: 1399042 Id Avenue North
PID #: 15-118-22-22-0018
LEGAL DESCRIPTION: Long Legal
PROPERTY TYPE: Residential Single Family
2007
MARKET VALUE
VALUE PRIOR TO
LOCAL BOARD
ASSESSOR'S
RECOMMENDATION
LAND MARKET VALUE 105,000 105,000
STRUCTURE MARKET VALUE 500,300 423,000
TOTAL MARKET VALUE 605,300 528,000
ASSESSMENT HISTORY 2005 2006 2007
Total Market Value 570,200 605,600 605,300
Limited Market Value 570,200 605,600 605,300
Improvement 0 0 0
SUBJECT PROPERTY
Owners Concern:
The house was purchased in 9/06 for 8528,000. Mr. Tajik stated that he thought the 2007
Estimated Market Value should be 8528,000.
RECONCILATION OF VALUE:
The property was purchased on 9/16/2006 for 8528,500. The property was reviewed on
4/12/2007. After discussing the potential sales activity in the area and taking into
consideration the recent sales price, the recommendation is to adjust the estimated
valuation to 8528,000. Mr. Tajik agreed to the adjustment.
528,000
mak.
Paul Kingsbury, CMA
a
Appraiser
763) 509-5357
pkingsbu@ci.plymouth.mn.us
CITY OF PLYMOUTH
LOCAL BOARD OF APPEAL AND EQUALIZATION
April 10, 2007 @ 5:30 PM
The primary focus of the Local Board of Appeal and Equalization is to consider the
estimated market value and/or classification for the 2007 assessment for taxes payable in
2008. The Board is not empowered to adjust taxes.
Name
Address:
How can we reach you: Please list your telephone number:`
Home• (03551-253Yj Work Cell
Purchase Price: 57-6, 000."L' Purchase Date:roc"
Is the property currently for sale?ti If yes, what is the asking price?_
Please list any improvements made to your property since your purchase:
1JOIJr
2007 Estimated Market Value (from your valuation notice)
2006 Estimated Market Value (from your valuation notice)
Owner's opinion of value
Your appeal must be based on evidence that the 2007 estimated market value exceeds the
true market value of your property. Please list the reasons why you believe that you
could not sell your property for the value stated on your 2007 valuation notice. Please
attach any documentation to support your opinion. To reserve your right to appeal,
please speak to a staff appraiser as soon as possible and then return this form to the
Plymouth Assessor's office no later than Friday, April 6.
TING 4o'u —g- lA p1Y}L, cMi 15 2c a(o P 1a
Do you to verbally address the Board? , Yes
Plymouth Assessing Division
3400 Plymouth Blvd.
Plymouth, MN 55447
763-509-5360
WRITTEN PRESENTATION #10
2007 BOARD OF APPEAL & EQUALIZATION
STAFF REPORT AND RECOMMENDATION
PROPERTY OWNERS NAME: Debra Larson
PROPERTY ADDRESS: 5600 Vagabond Lane N
PID #: 06-118-22-31-0003
LEGAL DESCRIPTION: Unplattted Section 6
PROPERTY TYPE: Residential Single Family
2007
MARKET VALUE
VALUE PRIOR TO ASSESSOR'S
LOCAL BOARD RECOMMENDATION
LAND MARKET VALUE 266,200
STRUCTURE MARKET VALUE 334,400
TOTAL MARKET VALUE 600,600 No Change
ASSESSMENT HISTORY 2005 2006 2007
Total Market Value 502,600 578,600 600,600
Limited Market Value 491,200 564,800 600,600
Improvement
SUBJECT PROPERTY
r
SUBJECT PROPERTY
Sty Ht Dimensions So Ft
11B 7 x 41 — 287
1B 23 x 55 = 1265
IB 4 x 26 = 104
OH 1.5 x 7 = 10.5
Gross Bldg Area 1666
Porches/Decks
GP 11 x 14 154
DECK Irreg x 809
Gara es
GARAGE 3 x 18 = 54
GARAGE 37.5 x 24 = 900
Total Garage = 954
Subject Location Map
SALES COMPARISON ADJUSTMENT GRID
Subject Comparable #1 Comparable #2 Comparable #3
ADDRESS: 5600
Vagabond
La
5400 Vagabond La. 6015 T rov La. 18615 County Road 47
PID# 06-31-0003 06-34-0004 06-21-0009 06-21-0004
SALE DATE: 7/14/06 7/5/05 6/2405
SALE PRICE:
TIME ADJUSTMENT:
ADJ.SALE PRICE:
725,000 584,903 565,000
2,175 17,547 19,775
727,175 602,450 584,775
TYPE OF BLDG: Rambler Two
Sto
Split
Level
Rambler
ABOVE GRADE
FINISH
1666 1882 16200) 2173 38025) 1430 10620
QUALITY; Average Ab.Avg 15000) Avg. Below
Avg
5000
AGE: 1987 1989 1980 12359 1962 27538
CONDITION: Avg. Ab. Avg 40000) Avg. Avg.
BEDROOMS: 5 3 6000 3 1 6000 4 3000
OF BATHS 2 '/, 2'/ 21/2 2 2500
FIN. BSMT. AREA: 1550
Avg
1200
Ab.Avg
1300
Avg
6250 1050 12500
WALKOUT: Yes Yes No 1500 Yes
FIREPLACES: 2 2 1 5000 3 5000)
GARAGE: 3 Car 3 Car 3 Car 2 Car 10000
DECK: Yes Yes Yes Yes
PORCHES: Glazed
Porch
Screen
Porch
6000 Glazed
Porch
Glazed
Porch
LOCATION AND
TOPOGRAPHY:
Private,
Heavy
Trees
15000) Wetland
Area
15000
NET ADJUSTMENT: 74,200) 8,084 66,158
ADJ SALE PRICE: 652,975 610,534 650.933
I
610,534
COMPARABLE SALES
COMPARABLE #1
5400 Vagabond La.)
COMPARABLE #3
18615 Co. Rd. 47)
COMPARABLE #2
6015 Troy La.)
VALUE CONCLUSION
LOCATION:
The property is located at 5600 Vagabond Lane, on the northeast comer of 56`n Ave. and
Vagabond Lane. It is located in the Northwest Quadrant of Plymouth with a metes and
bounds legal description in Unplatted Section 6.
SITE:
The site is 4.78 acres in size. The property has a fairly level elevation, sloping slightly in
the back to allow for a walk -out elevation of the structure. It has mature pine trees along
the north and west boundaries of the site. It contains no wetland area.
IMPROVEMENTS and FEATURES:
The rambler style home was built in 1987. It has 1666 sq.ft. finish on the main level. It
has a walk out elevation with an additional 1550 sq.ft. finished in the basement. The
home has 5 bedrooms, 2 on the main floor and 3 in the basement. It has 2 '/z bathrooms.
The living room features a vaulted ceiling with a fireplace. There is an additional
fireplace located in the family room in the basement. Additional features of this home are
a 3 car attached garage, an 1 I x 14 foot 3 season porch and a deck that stretches across
the back and wraps around the partial sides of the home. The home has had no
remodeling to the kitchen or baths.
OWNERS CONCERNS:
Debra Larson feels her market value should reflect the Twin Cities real estate market
decline over the past two to three years.
Secondly, she feels her value has been affected because the Planning Commission
restructured/rezoned the Northwest Quadrant future development to be no less than 1 acre
parcels which would reduce the future value of land to a developer.
Thirdly, she feels because she is unable to sub -divide land until city sewer and water is
installed she feels her valuation is speculaiive on future land use, not current land use.
COMPARABLE #1
This property is located at 5400 Vagabond Lane, approximately 1 block south of the
subject property. It is located at the end of a cul-de-sac street and is a heavily wooded 5
acre site. The home is a two story style built in 1989 with 1882 sq.ft. above grade finish.
It is above average quality construction and features a two story high family room on the
main level. The upper level consists of the master bedroom and bathroom only. The
house has 3 bedrooms and 2 % bathrooms. The basement has a walkout elevation and
1200 sq.ft. of above average quality basement finish. The basement features a kitchenette.
The house features 2 fireplaces, a screen porch and a 3 car attached garage.
COMPARABLE #2
This property is located at 6015 Troy Lane, approximately % mile north of the subject
property. It consists of 5.02 acres and has an area of approximately l acre of wetlands
near the center of the property. The home is a split level style built in 1980 with 2173
sq.ft. above grade finish. It is average quality construction. It has 3 bedrooms and 2
bathrooms and 1300 sq.ft. basement finish. It features one fireplace, a glazed porch and a
3 car tuck under garage.
COMPARABLE #3
This property is located at 18615 County Road 47, approximately % mile north of the
subject. It has 4.77 acres, a few trees, and minimal wetland area. The home is a rambler
style built in 1962 with 1430 sq.ft. above grade finish. It is average to below average
quality construction. It has 4 bedrooms, 2 bathrooms and 1050 sq.ft. basement finish. It
features 3 fireplaces, a glazed porch and a 2 car attached garage.
1
wWZ
o COMP #1
U j
54TH AVE - - '-
r Comparable Saies Map
N
City ofW EThisrepresentscompilationofinformationand
data from city, coo unty, state and other sources that has Snotbeenfieldver'dietl. Information should be fieltl
Plymouth, M N veiled and compared with origianl source documents
RECONCILATION OF VALUE:
I visited the subject property on April 13, 2007. 1 found the home to be of average quality
construction and in average condition.
The owner feels the future value of her land will be reduced because of a rezoning of
parcels in her area to: Living Area Rural Transition, LA -RI. She feels her valuation is
speculative on future land use, not current. At my visit I explained we value the land
portion of her value as a residential site, not on a dollar per acre value. I explained we are
valuing her property based on sales in the current market, not based on future speculation.
Upon my visit I gave Debra a packet of information listing sales information of properties
that have sold during 2005 and 2006 that are located in the northwest quadrant. The
information I gave her included a map locating the sales as well as a copy of the 2020
Land Use Guide plan and a Preliminary Land Use Plan.
The comparable sale properties that I included in my analysis are of the same
approximate size (5 acres) and the same LA -R 1 future land use as her property. The
properties were not sold to developers, but to private parties. Because I was limited to the
number of sales with comparable land size and zoning, the houses differed from the
subject and adjustments needed for the structures of Comparable #1 and Comparable #3
were quite large. Comparable #1 is a two story home, slightly larger, and of better quality
than the subject with a recent update to the kitchen. Comparable #3 is a rambler, smaller
in size, 25 years older, and of less quality than the subject. I put most of my weight on
Comparable #2 because it had the least amount of adjustments. It is a split level style
home, similar in quality, larger in size than the subject, but older. Based on the adjusted
sale prices of the comparable properties I feel the 2007 estimated market value of the
subject property should remain unchanged at:
600,600
I spoke with the Debra Larson on April 18, 2007 and she is in agreement with the
recommendation.
Cindy Bowman, CMA
Appraiser
763-509-5353
cbc,wiiian@ci.plymouth.i-nn.us
CITY OF PLYMOUTH
LOCAL BOARD OF APPEAL AND EQUALIZATION
April 10, 2007 @ 5:30 PM
The primary focus of the Local Board of Appeal and Equalization is to consider the
estimated market value and/or classification for the 2007 assessment for taxes payable in
2008. The Board its not empowered to adjust taxes.
Name 11<//m ZA-jo n
Con 1146,# nIJ
How can we reach you: Please list your telephone numbers:
Home & 3 yy?,Work (o/ Z (o(o/ 7/ 3 ( Cell// Cl 2. 30 9 e,1,,53 2—
Purchase Price: $/ I 6 d D P%%urtich
asC'
rv51n 4zeDate: -,; n C// 9 Q 7 i7
Is the property currently for sale? j In If yes, what is the asking price?
Please list any improvements made to your property since your purchase:
2007 Estimated Market Value (from your valuation notice)
2006 Estimated Market Value (from your valuation notice)
Owner's opinion of value
Your appeal must be based on evidence that the 2007 estimated market value exceeds the
true market value of your property. Please list the reasons why you believe that you
could not sell your property for the value stated on your 2007 valuation notice. Please
attach any documentation to support your opinion. To reserve your right to appeal,
please speak to a staff appraiser as soon as possible and then return this form to the
PlymouthAssessor's office no later than Friday, April 6.
At? 22 Ct
Ako
Do you wish to verbally address the Board? Yes (No
Plymouth Assessing Division
3)
1 3400 Plymouth Blvd.
GC b Plymouth, MN 55447
63-509-5360
G'GtIuATa-'' lS` SQ<<K i i v -•; -vr--, )-
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