Loading...
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 i9MY"iHnvF .. 1y11 AVE o ,. opd v > 1 g o Sitl AVE ie!ry Uc > e _. .. c o a i o GORD COMP#1Nos r ; City of Plymouth, Comparable Sales Map N W+E s 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 JJ Q ry m U Existing Home s2tio tiV Fns N v Lu J = y U LIJ SSS - t PLACE z AVENUE W M, 50TH A SCHMIDT LAKE ROAD A/ Y 1 Single family lots being appealed T sinhome lots being appealed Twinhome lots being adjusted 041601200( 15:24 SWRNSUN HUMES 4 845095060 N0.617 002 VV/Vol 4VV1 Io. UJ rAA IOJ oUo pVuV Uig. Vr rl-rmwin w111-., 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 19T z SOO) WO vl0 d, b N/A 5 6 J3 N A 0 9 `- 1" Existing ] Home °p h VrC ..A121, 5 nd ti a a 210162' 2 a SpLO Z F,i F a>, ,.O 32•.0 I ^J 3 N JO 150' L>; 716' 05 vv0 N/' SN16h 132' 4 2 SpLa Lo LO ,oA m O ,2N, 139' 125' $ mR5140 3x200 3 ,018 W ,'Q vat'NJA A j too142' S185 2 7 U C - LO 11 p/VQ5 95 125 .{ e S1ar ^5- 12 OAR we S. Ei,v a v+0 a 7 SOLO /•' 150 - 7x1 T/! 12• : 160 pL W Z 97 13 MODE( c'. 5.7LO516;1 (L C5' Q Sf L ° _ 5 yO` PLA oLo CD SpLO SOLO so 0 50TH AVENUEP e" G ass 10 Szar 1 2a 1 SzaO vu0 J z 793 a6 jG'a 4 SOLD Soso soLD SOLO 80.D n,_ SOLD SOLD b SOLO 2 3 5'.90 J: C) LC =-Ook—,k At NO ='AalI C-. Ot c at n01 cvai'2Le a: th's ri^.e SCHMIDT LAKE ROAD .:-24-07 S ~ 2 SOLO 170Oa , Lo A1 SoLa JQv S°LO SOLD SOLO SOLD 3 SpLD SO CO soyD b~ AVENUE gOLD SOLD SOLA gGLO SpLQ 5sr LO 5 LO LO 8 o 7 0 6 -0 0 LO 6 560 4 3 a2.c I2. 33 F70 f v goo GLO7j60 $70 8b0 75 S76 875 SQLQ LO a S60 50TH PLACE N. Q 59 SOL o 10 iso 2 ,,o 70 S9rLO" i e go 13 100 n 81.0 ,IC SOLD 9 LC AO 14A,0 a 8v0 So' -o 585 SOLD Q 4N0`OEF555 d' O.O A00¢ SOt.0 sok o Lo So'S so - 9 oLo CD SpLO SOLO so 0 50TH AVENUEP e" G ass 10 Szar 1 2a 1 SzaO vu0 J z 793 a6 jG'a 4 SOLD Soso soLD SOLO 80.D n,_ SOLD SOLD b SOLO 2 3 5'.90 J: C) LC =-Ook—,k At NO ='AalI C-. Ot c at n01 cvai'2Le a: th's ri^.e SCHMIDT LAKE ROAD .:-24-07 O4 Ubi GE'UC Lb: 3z SWHMUN HUNES 4 H450`j5060 NO. 61e 901 4 s HSOH HOMES 1360 Hamel Road • Medina, MN 55340 • ?63-478-0320 - Fax 763478-0321 DATE: / c TIME: FAX TO: A5Se 5 S ate- 5 OF)7"- c2 FAX #: COMPANY: FAX FROM: C!/vr lj t.l J RE: O--.7ad LVaX 'T COMN1ENTS: A t)t) d. L JJj kc$c ?'s W 3srr eso %t.eSdC I- - 5 P L-o- A -JJ NUMBER Or PAGFS INCLUATNG THIS COVER PAGE ; IF YOU DO NOT RECEIVE ALL OF THE PAGES, PLEASE NOTIFY US. www.swakisonhomes.com 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&section=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 xtY -_ fie 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 Y ir b Y. 0 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 f/ v t `- ire -ice NmBin¥an oo: k` z 2 H Q C. n g&c8d 7 to o k we m 4 0 40 o .q a 8k_ E2 rte w 0 tt / 3 a-- EME z 3 Q C. n g&c8d EME z 3 j B u 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 AM' pa, Mil IIS 1, \'l s ,,Jluc Lxc, Ur I -vi" cuuOu. a' r, to 1. •>> -...e IN SOM) re"'Urn April fa. 1 ed I A .EI'I' g C. - MN 5111- 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 x a. - . art , • f 1 , -.g: a g $, w =: a f .s y I x a. - . art , • f 1 , -.g: a g $, w =: a f .s 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 a ` (''. IY .y lir• .' y ." S W% 14L 7 a COMPARABLE COMPARABLE 1829 Forestview Ln N 1 1 Ave N COMPARABLE COMPARABLE 17050 Comparable Sales Map N City of t^, E 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 shun be fieldverifietlandcomparedwithorigianlsourczdocuments. SUBJECT r i t k ,(fin -: I, l COMP #3 t 7 Az k fie 01 11 Y i COMP #2 r Yl = Yi 4' ft COMP #1 1 1 I Comparable Sales Map N City of t^, E This represents coronationa of information s tnotfromcity, county, state and other sources that nas S Plymouth, M N not been fieltl verified. Inth 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 t 1 r2rgj) City of Plymouth, MN Comparable Sales Map This represents of information and N W E data from county,state acounty, state and other sources that has VV SfieldnotbeenFieldvenFetl. Information should be field verified and compared with origianl source documents. Aw A l > p t 1 r2rgj) City of Plymouth, MN Comparable Sales Map This represents of information and N W E 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 qH d H Os P. o a I I I I I I r...u!.+..r u. .... is n.4. i amiI dQQ 8 n I y rl I 1- F I qH d H Os P. o a I I I I I I amiI qH d H Os P. o a I I I I I I 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 pl.' O, 3 v tz Xpf ION C', Ld 1. I' I III r 4a , jwc i I I eaouoa ,unawuuouu 1 ----- SS1tlld'8tONHVS014),"I183NIJOA 6% ON AMH 31V1SIk !I i^,..". - r,lx=-b l- 'r - - - 7 It N0> IIt Val oOy It1 r SN ( INS M 19 XWN 71 F` I F I 1 I saw b f, it SSW yyHfurr-R" —_— -,-ray a: as '_ : p 'f'/ `< - uL _ X01+ ;1 4 iI~ Z GzG t''e 9 R IF u; _" NV41W A g ii IW w'" " m e Y N 9.• , wim aa'..? 1 N I0 I pa o s - - - p. O N. T- I a- n Z _ Yf N J - k s <: s3 yfmu and i z" kl A 6i1 i e ! Ee s viyy .-/ Ann BPISW Of°I, o(/'11 1, ZI+I. , a' I svnln ssve epee CS iN®ld ax e .q _ + 'd „ti •' "_ xn, i- Ey ¢¢ P .wN•.+ — — n _ I .u..a I IJ •i v3 „'r 'off,... .i on e°' cod " . 6E9 _ , Ci a .'° _ I .-, ° Y a wm ."" _< g„ •--oa°.'r3*'da '" ep`e °o h ha._ ..,^ q ..1, 41 " i t_e_}1i_, a F,% •' y•' a +V xi ay _ eP, n. __- E a dd , ,,,. 4 e }-_. II fIs} v o,YTv,.`°,.. `,i .'.u, c .+ o-r, to ,•n „ , G a 3 KI la! - r a ._ " q• rJ"° v, __°c ``-'°i Er SG, e -c " 2 I '. 31' Aja ' ' ` ,A..i , - .,,E "' .!.. F a a **e4 •I'' f° - -.„\ s "°,"n '" " , 9"° ; _ "' ice-_ , tut I 9 'P E • n S ,n' v t-1, n _ u6`)` -q na n 4, a y ; ' L III it .- • ui a . _ '" E: _ ., ° _ _: 1 \o-yt•;a<h ^ a _x"7° baa ^'a " ' x . a _: _ e - >Rw 11 11}R ad "Q : W a• ' - nx • asr- x • 1 -_ " 4 o e oo- , k Ij i •e. EE-L"ivJ7 X00 mma N cow h 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 i r c, Willr S+s y Y -I wlidvb= As- ties vl'y vY R ti: tt € t r 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 T._ _ _. - .t .. h t ia'i' s 4 - may:. S a,,: ice' w t: ,,,,, . j, ,: COMPARABLE #2 COMPARABLE #3 COMP#31 COMP #2 yo COMP #1 w SOJ vi SryCAF 0 _ - xy TT 0 F 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 lLO IN dmZp ad=_ 0 26tH AVE - . t 0 iFo j FuFt Rid F po COMP#31 COMP #2 yo COMP #1 w SOJ vi SryCAF 0 _ - xy TT 0 F 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. 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 $505,000. Based on the information in this report it is the opinion of this appraiser and agreed upon by the owner, that the value be reduced to: 5522,600 Michael VanderLinden CMA Appraiser 763)509-5356 mvanderl@ci.plyinouth.mn.us Comparable Sales Map N C, it of This represents a cu.,.P;:=tion of information and W E data from city, county, state and other sources that has 8notbeenfieldverified. Information should be field Plymouth, M N verged and compared wdh origianl source documents. I d y ySYH nYP._, COMP#1 0 5 v OLnACCtffIXte_gp o q0vagOq 0% 1 a J d P i IX RCLNFIXiOPn 1- g2NOAVE 91$ s cSiAVE 915TAYE i$ j IStP g w x ryKOS z q TNAVF NFP 40TH Q AVE 39Th PL a 32i El s su ZZ o 0 r3.. a._-- 39t4 Ci 'EVErjfSf o9THA 39THAv2 RlR'1Q vt i J i9rHAVc J 39THAlk' 96TH AVE N9A° cy36tnwvEx ) tNP I COMP 4 4`, 11 33THAVc SP n3 c,EsoJ COMP #2 t0 SUBJECT srH9 E g COMP #3 OP 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 u h 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__. z 26TH AVE-_ 26THAVLN Ofm 26TH AVE -- 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 m QUF 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 4 h% tY11F OGIS 57 2/ y x 3A " 88 - l o?- l7a Jcevv CO 00 s CF— P—, r%(v /)I /3(a5 t G u s -e x 2 SQ K;7t ow' 5-(,d Fez q F ypf 5e-/ 00 C i Ci cc) 5:7 n . c'zt C C)A-),$_1. %,-. i- - _- - 6 v7 _-. 's,.k.- - L•i/J... amu, f, (s_ _6! ' - cat s ( L/ . • .;. 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--, )- NO s"?v t-