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Home My WebLink AboutCity Council Packet 04-29-2008 BOEAgenda City of Plymouth Board of Appeal and Equalization Reconvened from April 15, 2008 Tuesday, April 29, 2008 7: 00 p.m. Council Chambers 1. Call to Order 2. Council Action on Recommendations 3. Adjourn 2008 Local Board of Appeal & Equalization Staff Recommendations Reports TID Number'. 2008 Estimated M rketValue Staff Rec en6tioormn n 1. Nancy Crouse 36-118-22-31-0043 140,300 No Change 2. Kameswar Jayanti 07-118-22-41-0025 338,600 380,500 3. Paul Anderson 13-118-22-24-0033 264,900 260,000 4. Ronald Miller 05-118-22-14-0006 441,000 No Change 5. Don Keefe 16-118-22-21-0039 428)400 Appeal Cancelled 6. Pierre LaFrance 11-118-22-33-0066 509,600 Appeal Cancelled 7. Denis & Janice Lawless 29-118-22-31-0058 499,800 471,300 8. Ron Prokosch 10-118-22-42-0137 10-118-2 42-0138 227,600 - Unit 1 248,400 - Unit J 205,200 205,200 REPORT #1 2008 BOARD OF APPEAL & EQUALIZATION STAFF REPORT AND RE COMMENDATION PROPERTY OWNERS NAME: Nancy Crouse PROPERTY ADDRESS: 311 Union Terrace Lane North PID #: 36-118-22-31-0043 LEGAL DESCRIPTION: Lot 8 Block 4 Ivanhoe Woods PROPERTY TYPE: Residential Homestead 2008 MARKET VALUE VALUE PRIOR TO LOCALBOARD ASSESSOR'S RECOMMENDATION LAND MARKET VALUE 105,000 116,200 STRUCTURE MARKET VALUE 35,300 Limited Market Value TOTAL MARKET VALUE 140,300 No Change ASSESSMENT HISTORY 2006 2007 2008 Total Market Value 116,200 128,400 140,300 Limited Market Value Improvement SUBJECT PROPERTY DIAGRAM 38 1.fB 24 35 14 2' GPOPB 13 TU 1 P. - 20 Sty Ht Dimensions Sq.Ft, I /B X 14 28 22 x 38 8 3 6 13 x 20 260 Ground Floor Area = 1124 Gross Building = Area 1124 Porches/Decks Glazed Porcla/Bsnat 2 x 4 260 I I I x 1 18-1 1 198 I Total I = 1 206 1 Garages Tuck Under 13 x 260 Total I = 1 260 ADDITIONAL SUBJECT PHOTOS Subject Location Map qAI.F..q CON/IPARPSON ADJUSTMENT GRID ADDRESS: 311 Union Terrace Lane North 0 10 Sunset Trail 202 Forestview Lane North PIDH 36-118-22-31-0043 35-118-22-31-0006 35-118-22-43-0025 SALE DATE: NA 12/2006 12/2007 SALE PRICE: 190,000 198,500 TIME ADJUSTMENT: 8%)- 0 ADJ.SALE PRICE: 174,800 198,500 TYPE OF BLDG: Rambler/Basenient Rambler/ Basement Rambler/ Basement ABOVE GRADE FINISH ($45 sq.ft.) 1,124 805 14355 1,064 QUALITY: Below Average Below Average Average 10000) AGE: 1954 1953 1958 CONDITION: Poor Below Average 7500) Below Average 7500) BEDROOMS: 3 2 3000 3 OF BATHS 13/4 1 500 1+sllower FIN. BSMT. AREA: NA 414 4700) WALKOUT: NA Lookout 4000) FIREPLACES: 2 1 5000 GARAGE: Tuckunder- I Car Tuckander- 2 Car 9000) Detached - 2 Car 9000) DECK: NA Yes 6000) PORCHES: Enclosed - 206 2060 2060 CENTRAL AIR: NA Yes 1600) Yes 1600) LOCATION: Good Fair 10000 Good HEATSOURCE: Poor Average 15000) Average 15000) NET ADJUSTMENT: 8,185) 45,740) ADJ SALE PRICE: 166,615 152,760 RANGE 153,000-167,000 COMPARABLE SALES COMPARABLE #1 COMPARABLE #2 12010 Sunset Trail 202 Forestview Lane North COMPARABLE 43 1605 Dunkirk Lane North VALUE CONCLUSION LOCATION: The subject property is located in the Ivanhoe Woods Subdivision in south-east Plymouth. The neighborhood consists of homes built mainly in the 1950's and 1960's, with a few newer homes scattered within the area. The neighborhood has easy access to Highways 55 and 169 and is conveniently lor-ated near p-ocery stores, theaters, and stri-D centers offering a variety of services. Ridgedale Mall is located minutes away off Interstate 394. The subject neighborhood was reviewed in the Quintile for the 2008 assessment. All properties were inspected and the values equalized. SITE: The site is a half acre lot that slopes from the street to the back of the site. The back half of the site is heavily wooded and abuts a natural wetland area. IMPROVEMENTS and FEATURES: The site is improved with a rambler built in 1954. It is constructed of cinder blocks and is heated by a gas boiler which in turn heats copper tubing running throughout the structure with antifreeze. The tubing in the basement does not work and the space is heated with a mounted blower. The basement is unfinished with storage area, a workshop, laundry facility and a substandard 1/4 bath area. The tuckunder garage is accessible through the basement. The main floor consists of a living room, eat -in kitchen, three bedrooms and a bath. The condition of the main living area is below average. Water damage is evident from before the home was re -roofed twelve years ago. An enclosed porch area over the basement completes the main floor area. OWNERS CONCERNS: The owner spoke at the Local Board of Review and Equalization and stated that her home was old and not worth the current assessment valuation. The father of the current owner designed and built this unique home. The owner is also concerned that Social Security benefits will end and the current housing market will only get worse. COMPARABLE #1 Built in 1953, this Plymouth rambler has 805 square feet of living space. It is located on Sunset Trail, a fairly busy street winding its way through numerous residential neighborhoods. The quality of the construction is below average and sold AS IS. The lot is slightly under an acre in size and sits on a steep incline above the street. There is no basement finish but does have a 2 car tuckunder garage with a deck above. The basement has lookout windows and there is central air. COMPARABLE #2 Located in the southern portion of Plymouth, this 1958 built rambler has 1,064 square feet of living area. The quality of the construction is average and the property sold AS IS. Forestview Lane is a quiet residential street with little through traffic. The lot is Just over half an acre and the topography is flat. There is approxinlately 400 square feet of basement finish and central air. A one car detached garage is located on the property. COMPARABLE #3 Since the date of purchase, the coniparable has been torn down and replaced with a large two-story home. The original structure was a ranibler built over crawl, constructed in 1952, situated on a lot just over a half acre in size. The home was marketed as a "handyman special". Dunkirk Lane is a busy through street connecting County Road 6 to Plymouth Station, a neighborhood strip center off of County Road 24. RECONCILATION OF VALUE: The subject home was inspected Thursday, April 17 at 8:00 a.m. The comparisons chosen are all located in similar mature neighborhoods and were all sold in "As Is" condition. One of the comparabtes was razed and a new home has been built on the site. The subject home is in poor condition. The home has not undergone any interior upgrades. The kitchen and bath on the main floor are below average, The bath in the basement is substandard. There is water damage evident from a roof leak prior to the replacement of the roof twelve years ago. The unique heating system is not operable in the basement so a blower has been installed to heat the area. The time adjustment for "As Is" properties was approximately .7% a month from 2006 to 2007. Properties not in move -in ready condition took a slightly larger amount of depreciation in the volatile real estate market of the past year due to competition. It is unknown what it would cost to replace the current heating system with a more conventional method. The placement of the blower is an example of ingaquickfixtoasystemthatnooneknowshowtorepair. The house be' made of cinder block, versus wood and sheetrock, also hinders the replacement of the heating system. The value of the property rests on the site. The site backs to woods and a natural wetland area where there is no chance of development, Vacant lots in newer developments in Plymouth range from 163,000 to 279,900 for 1/2 acre lots. It is the opinion of this appraiser that the value remains unchanged at: 140,300 Janice Olsson AMA, RES Appraiser Supervisor 763-509-5355 jo1sson@ci.p1ymouth.mn.us Subject 311 Union Terrace Lane North 1! F L. 0-1 Aw rin Comparable Sales Map y -LLCityof61woAndaftafia*s Ital tas rol tw fi Wd infre-unun Or,"M ba k0d Plymouth, IVIN vwIr*d rJcrfpflgd YrACwMI WAIN ox"Fks 5t — Y -J CITY OF PLYMOUTH LOCAL BOARD OF APPEAL AND E QUALIZATION April 15, 2008 @ 7: 00 PM The primary focus of the Local Board of Appeal and Equalization is to consider the estimated market value and/or classification for the 2008 assessment for taxes payable in 2009. The Board is not empowered to adjust taxes. Name A I - C — -f L) U S-9 Address U\ How can -we reach you -,,Please list your telephone number: Home:1 3 -wS,4 Work, Cell 1+J 01- Purchase Price: Purchase Date: Is the property currently for sale? -W-L) If yes, what is the asking price? Please list anyfimprovernents made to your property since your purchase: q 02008Estimat-ed Market Value (from your valuation notice)— - 2007 Estimated Market Value (from your valuation notice) 9 I.-_7?) (4 00 Owner's opinion of value # ) z 4 0 () Your appeal must be based on evidence that the 2008 estimated market value exceeds the true market value of your property. Please list the reasons why you b6lieve that you could not sell your property for the value stated on your 2008 valuation notice. Please attach any documentation to support your opinion. To reserve your right to appeal, picase 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 It. 1 0) C-\ cl, v\- o+ A- I tj Do you wish to verbally address the Board? MIG Plymouth Assessing Division 3400 Plymouth Blvd. Plymouth, MN 55447 763-509-5360 The following documentation was given to Nancy Crouse to review. The sales in the Ivanhoe Woods neighborhood occurring from October 1, 2006 through the end of September 2007 are listed. The estimated market values for the 2008 assessment for each property in the subject neighborhood are also included. Printed: 3/17/2008 11:51:45AM Assessing Division Neiahborhood Sales Studv Year: 2008; Property Type: ALL; Neighborhood: 3606 Building Sales Appraised Adjusted Sales Land PIN# PT Inst. Address Style Grade Age Sq. Ft. Date Value Value Ratio Value vanhoe Woods -3606 1 36-118-22-31-0034 R CV` 310 UNION TERRACE LN N 20 5 1964 1,308 1/19/2007 306800 345000 0.889 105000 2 36-118-22-34-0002 R CV 220 SARATOGA LN N 20 4 1971 1,040 9/7/2007 250900 274000 0.916 105000 3 36-118-22-34-0039 R CV 215 UNION TERRACE LN N 20 5 1964 1,327 1/26/2007 300400' 330000 0.910 105000. 858100 949000 315000 COD: 0.967 Mean: 0.905 Median: 0.910 Printed: 3/17/2008 11:51:45AM 3606 36-118-22-31-0010 320 SARATOGA LN N 289,200 R 3606 36-118-22-31-0011 310 SARATOGA LN N 287,500 R 3606 36-118-22-31-0012 300 SARATOGA LN N 257,400 R 3606 36-118-22-31-0013 10405 OLD COUNTY RD 15 258,200 R 3606 36-118-22-31-0014 411 SARATOGA LN N 298,100 R 3606 36-118-22-31-0015 403 SARATOGA LN N 281,700 R 3606 36-118-22-31-0016 321 SARATOGA LN N 230,600 R 3606 W-118-22-31-0018 309 SARATOGA LN N 218,900 R 3606 36-118-22-31-0019 225 SARATOGA LN N 224,100 R 3606 36-118-22-31-0020 304 TRENTON LN N 240,500 R 3606 36-118-22-31-0021 310 TRENTON LN N 249,500 R 3606 36-118-22-31-0022 316 TRENTON LN N 311,000 R 3606 36-118-22-31-0023 320 TRENTON LN N 286,300 R 3606 36-118-22-31-0024 324 TRENTON LN N 210,300 R 3606 36-118-22-31-0025 404 UNION TERRACE LN N 238,900 R 3606 36-118-22-31-0026 410 UNION TERRACE LN N 258,600 R 3606 36-118-22-31-0027 418 UNION TERRACE LN N 254,200 R 3606 36-118-22-31-0028 420 UNION TERRACE LN N 263,700 R 3606 36-118-22-31-0029 424 UNION TERRACE LN N 234,600 R 3606 36-118-22-31-0030 10515 OLD COUNTY RD 15 344,600 R 3606 36-118-22-31-0031 10505 OLD COUNTY RD 15 298,800 R 3606 36-118-22-31-0032 10411 OLD COUNTY RD 15 230,000 R 3606 36-118-22-31-0033 323 TRENTON LN N 216,400 R 3606 36-118-22-31-0034 310 UNION TERRACE LN N 306,800 R 3606 36-118-22-31-0035 317 TRENTON LN N 263,700 R 3606 36-118-22-31-0036 425 UNION TERRACE LN N 294,100 R 3606 36-118-22-31-0037 10635 OLD COUNTY RD 15 273,200 R 3606 36-118-22-31-0038 417 UNION TERRACE LN N 199,500 R 3606 36-118-22-31-0039 411 UNION TERRACE LN N 286,100 R 3606 36-118-22-31-0040 405 UNION TERRACE LN N 280,400 R 3606 36-118-22-31-0041 323 UNION TERRACE LN N 332,800 R 3606 36-118-22-31-0042 317 UNION TERRACE LN N 343,200 R 3606 36-118-22-31-0043 311 UNION TERRACE LN N 140,300 R 3606 36-118-22-31-0044 305 UNION TERRACE LN N 252,400 R 3606 36-118-22-31-0046 400 SARATOGA LN N 354,200 R 3606 36-118-22-31-0047 330 SARATOGA LN N 357,700 R 3606 36-118-22-34-0001 230 SARATOGA LN N 254,900 R 3606 36-118-22-34-0002 220 SARATOGA LN N 250,900 R 3606 36-118-22-34-0003 212 SARATOGA LN N 230,800 R 3606 36-118-22-34-0004 206 SARATOGA LN N 249,100 R 3606 36-118-22-34-0005 124 SARATOGA LN N 193,400 R 3606 36-118-22-34-0006 118 SARATOGA LN N 284,300 R 3606 36-118-22-34-0007 112 SARATOGA LN N 254,300 R 3606 36-118-22-34-0008 110 SARATOGA LN N 265,600 R 3606 36-118-22-34-0009 40 SARATOGA LN N 251,700 R 3606 36-118-22-34-0010 30 SARATOGA LN N 265,700 R 3606 36-118-22-34-0011 20 SARATOGA LN N 266,706 R 3606 36-118-22-34-0012 6 SARATOGA LN N 253,800 R 3606 36-118-22-34-0013 221 SARATOGA LN N 242,400 R 3606 36-118-22-34-0014 211 SARATOGA LN N 331,600 R 3606 36-118-22-34-0015 218 TRENTON LN N 292,100 R 3606 36-118-22-34-0016 305 TRENTON LN N 307,200 R 3606 36-118-22-34-0017 217 TRENTON LN N 263,200 R 3606 36-118-22-34-0018 211 TRENTON LN N 285,400 R 3606 36-118-22-34-0019 205 TRENTON LN N 306,400 R 3606 36-118-22-34-0020 125 TRENTON LN N 263,100 R 3606 36-118-22-34-0021 121 TRENTON LN N 333,000 R 3606 36-118-22-34-0022 111 SARATOGA LN N 266,100 R 3606 36-118-22-34-0023 105 SARATOGA LN N 229,600 R 3606 36-118-22-34-0024 8 UNION TERRACE LN N 253,000 R 3606 36-118-22-34-0025 12 UNION TERRACE LN N 243,100 R 3606 36-118-22-34-0026 14 UNION TERRACE LN N 229,100 R 3606 36-118-22-34-0027 16 UNION TERRACE LN N 217,100 R 3606 36-118-22-34-0028 18 UNION TERRACE LN N 240,400 R 3606 36-118-22-34-0029 20 UNION TERRACE LN N 324,500 R 3606 36-118-22-34-0030 26 UNION TERRACE LN N 336,800 R 3606 36-118-22-34-0031 114 UNION TERRACE LN N 350,000 R 3606 36-118-22-34-0032 122 UNION TERRACE LN N 296,100 R 3606 36-118-22-34-0033 118 UNION TERRACE LN N 324,300 R 3606 36-118-22-34-0034 130 UNION TERRACE LN N 300,400 R 3606 36-118-22-34-0035 206 UNION TERRACE LN N 251,100 R 3606 36-118-22-34-0036 212 UNION TERRACE LN N 244,800 R 3606 36-118-22-34-0037 218 UNION TERRACE LN N 242,800 R 3606 36-118-22-34-0038 219 UNION TERRACE LN N 308,800 R 3606 36-118-22-34-0039 215 UNION TERRACE LN N 300,400 R 3606 36-118-22-34-0042 205 UNION TERRACE LN N 264,000 R 3606 36-118-22-34-0043 129 UNION TERRACE LN N 236,700 R 3606 36-118-22-34-0044 123 UNION TERRACE LN N 325,900 R 3606 36-118-22-34-0045 117 UNION TERRACE LN N 341,100 R 3606 36-118-22-34-0046 111 UNION TERRACE LN N 194,000 R 3606 36-118-22-34-0047 105 UNION TERRACE LN N 198,000 R 3606 36-118-22-34-0048 33 UNION TERRACE LN N 263,500 R M06 36-118-22-34-0049 29 UNION TERRACE LN N 250,500 R 3606 36-118-22-34-0050 25 UNION TERRACE LN N 291,200 R 3606 36-118-22-34-0051 21 UNION TERRACE LN N 272,800 R 3606 36-118-22-34-0052 19 UNION TERRACE LN N 222,100 R 3606 36-118-22-34-0053 17 UNION TERRACE LN N 237,400 R 3606 36-118-22-34-0054 15 UNION TERRACE LN N 277,200 R 3606 36-118-22-34-0055 13 UNION TERRACE LN N 223,600 R 3606 36-118-22-34-0056 11 UNION TERRACE LN N 299,200 R 3606 36-118-22-34-0057 9 UNION TERRACE LN N 283,700 R 3606 36-118-22-34-0059 5 SARATOGA LN N 306,400 R 3606 36-118-22-34-0060 211 UNION TERRACE LN 251,800 R REPORT #2 2008 BOARD OF APPEAL & EQUALIZATION STAFF REPORT AND RECOMMENDATION PROPERTY OWNERS NAME: Kaineswar Jayanti PROPERTY ADDRESS: 1763 5 48'1' Place N PID #: 07-118-22-41-0025 LEGAL DESCRIPTION: Lot 21 Block I Conor Meadows PROPERTY TYPE: Residential Homestead 2008 MARKET VALUE VALUE PRIOR TO LOCAL BOARD ASSESSOR'S RECOMMENDATION LAND MARKET VALUE 85,000 85,000 STRUCTURE MARKET VALUE 253,600 295,500 TOTAL MARKET VALUE 338,600 380,500 ASSESSMENT HISTORY 2006 2007 2008 Total Market Value 317,900 317,900 338,600 Lil'i'lited Market Value h-nprovement 18,700 SUBJECT PROPERTY La -q M r INRN DIAGRAM StyHt Dimensions Sq.Ft. I/B 12.5 x 14 175 I/B J 6.5 x 17 280 I/B 8.5 x 3.5 30 2/B 26.5 x 14 371 2/B 22.5 x 6.5 146 OH 8.5 x 2 17 Q/G 22.5 x 13.5 303 Q/G I I x 2 22 Ground Floor Area 1019 2 nd Floor Area 842 Gross Building Area 1861 Torcl-les/Decks DECK 14 x 5.5 77 SCREEN 14 x 6.5 PORCH 2 x 5.5 102 Garages 1 21,5 483GARAGE22.5 x Subject Location Map Li I I Affsk A Subject Location Mapi TW ruwnln a WanToWn WCityof Plymouth, NIN COMPARABLE SALES Q COMPARABLE #1 COMPARABLE #2 4855 Olive Lane 4895 Merrimac Lane COMPARABLE #3 4890 Narcissus Lane SALES COMPARISON ADJUSTME NT GRID a ADDRESS: 17635 40' Place 4855 Olive Ln. 4895 Merrimac Ln- 4890 Narcissus La. PID# 07-118-22-41- 0025 07-118-22-41-0013 07-118-22-41-0055 07-118-22-41-0050 SALE DATE: 4/2/07 1/24/08 7/31/07 SALE PRICE: 375,000 3377,000 400,000 TIME ADjUSTMENT: 2%) 2%) ADJ.SALE PRICE: 367,500 377,000 392,000 TYPE OF BLDG: 2 Story 2 Story 2 Story 2 Story ABOVE GRADE FINISH 1,861 1,844 1,844 1,958 QUALITY: Avg Avg Avg Avg AGE: 1999 1999 1998 1998 CONDITION: Ab, Avg. Ab. Avg Ab. Avg Ab. Avg. Kitchen upgrades 10000) BEDROOMS: 4 4 4 5 3000) OF BATHS 3.5 3.5 3.5 2.5 4500 FIN. BSMT. AREA: 920 700 5500 700 5500 860 WALKOUT: Yes Yes Yes Yes FIREPLACES: I I I I GARAGE: 2 Car Att 2 Car Att 2 Car Att 2 Car Att DECK: Small Large 4000) Large 4000) Large 4000) PORCHES: Screen Porch None 10000 None 10000 None 10000 LOCATION: Backs to RR tracks Backs to Peony, Close to RR tracks Backs to Housing 8000) Backs to Housing 8000) NET ADJUSTMENT: 11500 3500 10500) ADJ SALE PRICE: 379,000 38Ot5OO 381,500 INDICATED VALUE JAN 2,2008 380,500 VALUE CONCLUSION LOCATION: The parcel is located in the northwest quadrant of Plymouth in the Conor Meadows Subdivision. SITE: The parcel is .17 acres in size and backs to railroad tracks. The railroad tracks are located approximately 120 feet from the back of his home. IMPROVEMENTS and FEATURES: The home was built in 1999. It is a two story home with 1861 square feet finished above grade. In 2007, 920 square feet was finished in the basement. The home features a fireplace, 2 car attached garage, small deck and screened porch. OWNERS CONCERNS: Mr. Jayanti feels the 2008 market value of his house is too low based oil sales in his neighborhood. He provided documcntation of two sales in his ncighborhood that he feels supports his opinion. COMPARABLE #1 This home has 1844 square feet above grade and 700 square feet finished basement area. It features a large deck, no screened porch. It is located in the Conor Meadows subdivision. It is approximately 200' from the railroad tracks and backs to Peony Lane. COMPARABLE #2 This home has 1844 square feet above grade with 700 square feet finished basement area. It features a large deck, no screened porch. It is located in the Conor Meadows subdivision, backing to another single family home in the neighborhood. COMPARABLE #3 This home has 1958 square feet above grade with 860 square feet finished in the basement. It features a large deck, no screened porch. It includes kitchen upgrades of maple cabinets and granite countcrtops. It is located in the Conor Meadows subdivision, backing to another single family home 111 the neighborhood. RECONCILATION OF VALUE: On April 21, 2008 1 viewed the interior of Mr. Jayanti's home. I have used the two sales provided by Mr. Jayanti as two of my comparable sales. His home is similar to the Comparable #1 and #2 because the subject as well as both comparable properties have similar above grade size, all feature one fireplace, 31/2baths, 4 bedrooms, a walk -out elevation, and two car attached garage. The subject has more finished basement square footage than comparables #1 and #2. Comparable #3 has slightly more above grade square feet, however the subject has slightly more square feet of basement finish. Coniparable #3 features an upgraded kitchen, has one additional bedroom, but lacks the additional bathroom in the basement. The subject offers a screened porch, but has a smaller deck, than all of the comparables. Ali adjustment was made to Comparable #2 and #3 because they are located further from the railroad tracks. The second half of 2007 brought market value decreases to most residential propel -ties in the City of Plymouth. Based on the average market adjustment for the 2008 assessment of negative 2%, 1 have made a negative time adjustment of .33 % each month starting in July. There was no time adjustment needed for Comparable #2 because of the date of sale. Because of the many similarities of Comparable #2 to the subject and because no time adjustment was required I recommend the 2008 market value of the subject property be increased to the adjusted sale price of Comparable #2 of. 380,500 Cilidy Bowman, CMA Residential Appraiser 763-509-5353 ebowmal-i@ci.plyino-atl-i.i-iiii.us MAP OF COMPARABLES Comparable Salle V) L City of dllmw cky 111111 And aft"Mym IrRI Mbranf= wrDid Wourm A-Y-Urffi*; Plymouth, NIN CITY OF 13LYMOUTH LOCAL BOARD OF APPEAL AND EQUALIZATION April 15, 2008 @ 7:00 PM The primary focus of the Local Board of Appeal and Equalization is to consider the estimated market value and/or classification for the 2008 assessment for taxes payable in 2009. The Board is not cinpowered to adjust taxes. Narnc—t, JTJ Address: [7 -L- /\J j y r4 01 I -low can we reach you: Please list your telephone number: Home '7b R -y I -Work ' G, 1 -1 (c) -).o cell 'A 2- 2 t, L— I — Purchase Price: t Purchase Date: o J-1 Is the property currently for sale?- NJ If yes, what is the asking price? Please list any improvements made to your property since your purchase: A J0, u 0 -m 1- A +-r t f,j -,- V— 0 o V, 2008 Estiniated Market Value (from your valuation notice) o 2007 Estimated Market Value (from your valuation notice) Owner's opinion of vatue*-" .1), 0 Your appeal must be based on evidence that the 2008 estimated market value exceeds the true market value of your property, Please list the reasons why yon believe that you could not sell your property for the value stated on your 2008 valuation notice. Please att, C ach 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 11. Do you wish to verbally address tl-ie Board No Plymouth Assessing Division 3400 Plymouth Blvd. Plymouth, MN 55447 763-509-5360 I lu AULLlr-bP"'Ity 1111U1111aLAU11 0-CIIL,11 Uy OW,-L L -, IN-UNLUL Pdgr- Search By: HOUSE or BUILDING F8 STREET NAME: at least first 3 characters) FP 7A R I UNIT # (if applicable) F__' Search F20 -1 records per page rage I ot 2 SM Property Information Search The Hennepin County Property Tax web data daily (Monday - Friday) at approximately 9: - Parcel Data for Taxes Payable Most Current Sales informa Sales prices are reported as listed on the Certificate of Real Estate ValuE arms -length transactions. Sale Date., July, 2007 Sale Price- $405,000 Transaction Type: Warranty Deed Tax Parcel Description Addition Name: CONOR MEADOWS Lot: 022 Block: 002 Metes & Bounds: Abstract or Torrens: ABSTRACT Value and Tax Summary for Taxes P Values Established by Assessor as of I Estimated Market Value: $358,200 Limited Market Value- $358,200 Taxable Market Value: $358,200 Total Improvement Amount: $11,500 Tota I Net Tax. $3,690.03 Total Special Assessments, Solid Waste Fee: $56.73 Total Tax: $3,746.76 http://wwwl6.co.liein-iepli-i.mi-i.us/pins/addrresultjsp 4/15/2008 Click Here for the 2008 State Copy to be used when filing for i PPrint Property ID: 07-118-22-41-0050 Address: 4890 NARCISSUS LA N Municipality: PLYMOUTH School Dist: 284 ConstrL Watershed: 0 Approx. I Sewer Dist: 03 Owner Name: MURUGESAN MANOKARAN Taxpayer Name MURUGESAN MANOKARAN Address: 4890 NARCISSUS LA N PLYMOUTH MN 55446 Most Current Sales informa Sales prices are reported as listed on the Certificate of Real Estate ValuE arms -length transactions. Sale Date., July, 2007 Sale Price- $405,000 Transaction Type: Warranty Deed Tax Parcel Description Addition Name: CONOR MEADOWS Lot: 022 Block: 002 Metes & Bounds: Abstract or Torrens: ABSTRACT Value and Tax Summary for Taxes P Values Established by Assessor as of I Estimated Market Value: $358,200 Limited Market Value- $358,200 Taxable Market Value: $358,200 Total Improvement Amount: $11,500 Tota I Net Tax. $3,690.03 Total Special Assessments, Solid Waste Fee: $56.73 Total Tax: $3,746.76 http://wwwl6.co.liein-iepli-i.mi-i.us/pins/addrresultjsp 4/15/2008 f—IL y Uy 13LL kL Park, Land Market Building Market Machinery Market Land Limited Building Limited rage /- 01 z Property Information Detail for Taxes Values Established by Assessor as of 1 Values: Total Market Total Limited: Qualifying Improvements Classifications: Property Type Homestead Status Relative Homestead Agriculturifl Exempt Status 85,500 272,700 358,200 85,500 272,700 358,200 RESIDENTIAL HOMESTEAD Hennepin County is providing this information as a public service. Tax related questions: taxinfo@co.hennepin.mn.us Need help locating a property on our site? Check out our Search Tips Home I Your County Government I Licenses, Certificates, & Registration I Empl( Social Services I Law, Public Safety, & Courts I Environment, Property, & Transi: Copyright @ 2006 Hennepin County, Minnesota I www.Hennepin.us Accessibility Policy I Contact Hennepin County I Security/Privacy Statement http://ww-w I 6.co.hem-iepin.mli.us/pins/addrresultj sp 4/15/2008 XUP—Ly 1111U1111ULIU11 ':)UcLiull Uy 0L1%"C;L P-S_uu1(::;66 _L-C;bun pagr, W-WM us Search By, HOUSE or BUILDING F4 95_ STREET NAME. at least first 3 characters) RRI UNIT # (if applicable) I __ __ Search I Clear records per page rage i ot 2 Hennepin County,, IN Property Information Search The Hennepin County Property Tax web data daily (Monday - Friday) at approximately 9: Parcel Data for Taxes Payable Click Here for the 2008 State Copy to be used when filing for i 4Print Property !D: Address. Municipality: School Dist - Watershed: Sewer Dist: Owner Name: Taxpayer Name Address: 07-118-22-4i-0055 4895 MERRIMAC LA N PLYMOUTH 284 ConstrL 0 Approx. 1 03 P B CHITTINENI/S CHITTINENI PRATAP & SRIDEVI CHITTINENI 4895 MERRIMAC LA N PLYMOUTH MN 55446 Most Current Sales Informa Sales prices are reported as listed on the Certificate of Real Estate Valuf arms -length transactions. Sale Date: January, 2008 Sale Price: $377,000 Transaction Type: Warranty Deed Tax Parcel Description Addition Name: CONOR MEADOWS Lot: 027 Block: 002 Metes & Bounds: Abstract or Torrens: ABSTRACT Value and Tax Summary for Taxes P Values Established bv Assessor as of I Estimated Market Value- 332,600 Limited Market Value: 332,600 Taxable Market Value: 332,600 Total Improvement Amount: Total Net Tax: 3,399.72 Total Special Assessments - Solid Waste Fee: 52.68 Total Tax: 3,452.40 1-ittp://ww-wl6.co.hennepin.iiiii.us/pins/addrresult.jSP 4/15/2008 I XUF ILy Jjj U.L.LjjUL1kjjj o,aiwi uy OLI,,L PILLUIC;bb I\A UIL _PUgU Land Market Building Market Machinery Market Land Limited Building Limited Page 2- 012 - Property Information Detail for Taxes Values Established by Assessor as of 1 Values: Total Market: Total Limited: Qualifying Improvements Classifications: Property Type Homestead Status Relative Homestead Agricultural Exempt Status 85,500 247,100 332,600 85,500 247,100 332,600 RESIDENTIAL HOMESTEAD Hennepin County is providing this information as a public service. Tax related questions: taxinfo@co.hennepin.mn.us Need help locating a property on our site? Check out our Search Tips Home I Your County Government I Licenses, Certificates, & Registration I Empl( Social Services I Law, Public Safety, & Courts I Environment, -Property, & Trans[ Copyright @ 2006 Hennepin County, Minnesota I www.Hennepin.us Accessibility Policy I Contact Hennepin County I Secu rity/ Privacy Statement htip://wwwl6.co.hennepin.mn.us/pilis/addrTesult.jsp 4/15/2008 UclLt:'. '-+/ I 0/,-UUO ZUb Kjayani I ime: 9:31:59 AM REPORT #3 2008 BOARD OF AIPPEAL & EQUALIZATION STAFF REPORT AND RECOMMENDATION PROPERTY OWNERS NAME: Paul Anderson PROPERTY, ADDRESS: 4225 Revere Lane North PTD #: 13-118-22-24-0033 LEGAL DESCRIPTION: Lot 3, Block 1, Tom House Addition PROPERTY TYPE: Residential Homestead 2008 MARI(ET VALUE VALUE PRIOR TO LOCALBOARD ASSESSOR'S RECOMMENDATION LAND MARKET VALUE 85,000 85,000 STRUCTURE MARIUT VALUE 179,900 175,000 TOTAL MARKET VALUE 264,900 260,000 ASSESSMENT HISTORY 2006 2007 2008 Total Market Vaiuc. 259,600 278,000 $264,900 11inited Market Value 0 0 $0 Improvement 0 0 so SUBJECT PROPERTY DIAGRAIN/I sty it ensions S qFt. . I/B 25 x 40 1,000 OH 2 x 14 29 OfI I x 17 17 Ground Floor Ai ca 2 iid Floor Area- Gross Building Area 1,045 ADDITIONAL SUBJECT PHOTOS ra.r: s•Y.• e z:.:•ra-sx r. c-.._...... - _rx..W •rs .=xxctr s•xmx saa¢xrte- ........_._::-r:•::._ .._......... SUBJECT Go. R 9 1 Ro W -6f: n M! M"i F4). 4) 16 - CD: aubject mim I City of Uth Minnesota This represents a rompilation of infurmatiun and data from city. county. state and other sources that has not been field verified. Informalior should ba fidd wrifind and rompared ON ofigiani sourra documents. N W+E S SALES COMPARISON ADJUSTMENT GRID 3 -0-49thADDRESS: 4225 Revere Lane North 99003151 Avenue North 10115 49 Avenue North 4740 Quaker Lane North 124 Avenue North PID -9 13-118-22- 24-0033 24-118-22- 13-0063 12-118-22- 42-0066 12-118-22- 42-0099 11-118-22- 32-0043 SALE DATE: 06/2007 6/2007 11/2006 8/2007 SALE PRICE: TIME ADJUSTMENT. ADJ.SALE PRICE: 270,000 261,000 255,000 280,000 6%) 6%) (6%) 4%) 253,800 245,340 $239,700 268,800 ADJ.SALE/SQ FT: TYPE OF BLDG: Split Entry Split Split Split Split ABOVE GRADE FINISH 1,045 J,098 (2,385) 1,078 (1,485) 1008 +1,665 1100 (2,475) QUALITY: Good S anic 0 Same 0 Sallie 0 Same 0 AGE: 1985 1984 0 1983 0 1983 0 1983 0 CONDITION: Average Sallie 0 Salne 0 Same 0 Sallie 0 BEDROOMS: 3 4 (3,000) 4 (3,000) 4 (3,000) 4 (3,000) 9 OF BATHS 2 Same 0 Sallie 0 Same 0 Same 0 FIN. RSMT. AREA: 784 902 (2,950) 930 (3,650) 980 (4,900) 920 (3,400) WALKOUT: No S alne 0 Same 0 Sallie 0 Same 0 FIREPLACES: I Sall -le 0 Samc 0 Sallie 0 Same 0 GARAGE: 3 2 + 2,000 2 +12,000 2 +12.,000 Same 0 DECK: Yes Same 0 Same 0 Sallie 0 Same 0 NETADJUSTMENT: 3,665 3,865 5,765 8,975) ADJ SALE PRICE: 257,465 249,205 245,465 259,925 INDICATED VALUE AS OF JANUARY 2,2008: $260,000 COMPARABLE SALES COMPARABLE #1 9900 31" Avenue North COMPARABLE n2 10115 49"' Avenue North COMPARABLE #3 4740 Quaker Lane North COMPARABLE #4 12430 494'Avenue North VALUE CONCLUSION LOCATION: The subject property is located on the west side of Revere Lane one lot south of Old Rockford Road. It is one of four homes in the Tom House addition that has been combined with Fredrickson Addition for assessment purposes. This neighborhood contains 15 parcels of mixed age and style. The age of the homes ranges fi-orn 1955 to 1990. The subject bome was constructed in 1985. The 2008 assessed values in this neighborhood for payable 2009 taxes range from $241,600 to $353,900. The subject property is currently assessed at $264,900. The neighborhood is conveniently located within walking distance to shopping and schools. SITE: The subject property is larger than average for Plymouth at 67/1. 00's of an acre, but fits in well with the adjacent lots which also are larger than average. This parcel has had some drainage issues in the past that have been rectified by City Project Number 6 101 in 2006. In order to accomplish this improvement an additional five feet of drainage and utility easernent was added to the existing five feet -along the north side of the yard. A copy of that casement is attached as an exhibit. IMPROVEMENTS and FEATURES: The subject property was improved in 1985 with a 1,045 square foot, split entry home with an attached three car garage. There are two bedrooms and one bath on the main floor and one bedroom and a3/4bath on the lower level. A 12 foot by 16 foot shed with no foundation was added in 1994. The home experienced a Ere and subsequent professional restoration in 1999. There was curb and gutter added on Revere Lane in front of the property in 2006. As part of this project the drainage issues associated with this site were addressed and remedied with two catch basins and concrete pipe that drain the low area, along the north side of the yard, to the open ditch on -the east side of Revere Lane. The value was reduced in 2006 to reflect the drainage problems and was restored in 2007 after the improvement project. OWNERS CONCERNS: Mr. Anderson's concern is that proper consideration has -not been given to certain characteritics of his property. COMPARABLE #1 This comparable is a split entry home located approximately one mile south and 1/4 mile cast of the subject property. It is similar to the subject property i -n age, number of fireplaces and bathrooms, no walkout, and has a deck. Adjustments were made for above grade square foot, n-ambcr of bedrooms, finished bascinent area, and -number of garage taAs. COMPARABLE #2 This cornparable is located less than one mile north and with in 1/4mile to the east of the subject property. It is similar to the subject in style, age, number of bathrooms and fireplaces, no walkout,and has a deck. Adjastmcnts were made for above grade square finish, number of bedrooms, finished basement area, and number of garage stalls. COMPARABLE #3 This coinparable is located directly north of the subject property approximately 1/4mile, It is similar to the subject property in style, age, number of fireplaces and bathrooms, no walkout, and has a deck. It has been adjusted for above grade square footage, number of bedrooms and garage stalls, and finished basement area. COMPARABLE #4 This comparable is located less than a mile to the north and with in3/4mile to the west of the subject property. It is similar to the subject in style, age, number of bathrooms and fireplaces, no walkout, has a deck and has three.attached garage stalls. Adjustments were made for sizc, number of bedrooms and finished basement area. COMPARABLE 91 This comparable is a split entry home located approximately one mile south and 114 mile cast of the subject property. It is similar to the subject property in age, number of fireplaces and bathrooms, no walkout, and has a deck. Adjustments were made for above grade square foot, nun-iber of bedrooms, finished basement area, and number of garage stalls. COMPARABLE #2 This comparable is located less than one mile north and with in 'Amile to the cast of the subject property. It is similar to the subject in style, age, number of bathrooms and fireplaces, no walkout and has a deck. Adjustments were made for above grade square finish, number of bedrooms, finished basement area, and number of garage stalls. COMPARABLE #3 T4--i i comparable is located directly north of the subject prop erty-ap`roxii , i --,Y4mile. It is similar to the subject property in style, age, numbe—r—oT fireplaces and bathrooms, no walkout, and has a deck. It has been adjusted for above grade square footage, number of bedrooms and garage stalls, and Finished basement area. COMPARABLE 44 This comparable is located less than a mile to the north and with in '/4mile to the west of the subject property. It is similar to the subject in style, age, number of bathrooms and fireplaces, no walkout, has a deck and has three attached garage stalls. Adjustments were made for size, number of bedrooms and finished basement area, RECONCILATION OF VALUE: An interior inspection of the property was conducted on April 2, 2008. The property was found to be in average condition for its age and of average quality of construction. Becaase of their proximity and similar amenities the comparables have been detenilined to be solid indicators of value for the subject property. The adjustment for the age of sale was typical for split level homes built in the earlty 1980s. The most weight has been given to comparable number four. Because of the three stall garage this comparable has received the least amount of gross adjustments and is the most recent sale, of all the coinparables. It is thc opinion of this Assessor that the indicated market value is: 260,000 Michael Vandey Linden, CMAS Apprcnise,y, City of Plymouth 763) 509-5356 mvaiiderl@ci.plyi-noutl-i.i-m-i.us Lu L--;;j ---------- T— Tr' COMP #2r-_ - 174- i J7, COMP #4 - 7 COMP #2 T -:L - Tl FT q r AS LDIJT; FT W011 7 T j L Ro*p. j T I J 7L-17- D" Tf F -7 -FT F r t Lj T- T SIM T' I Y U-1 COMP #1 7 T L J C k- t -Of MO uth This represents a compIation of information and data from city, cDun ty, state and other sources that ha s nDt been field verified. Information shc),jld be field verified and rompared wilb crigiaill source documents. N W+E S 7" j z i A FRV Iv. U-1 COMP #1 7 T L J C k- t -Of MO uth This represents a compIation of information and data from city, cDun ty, state and other sources that ha s nDt been field verified. Information shc),jld be field verified and rompared wilb crigiaill source documents. N W+E S I U; Dn"J::)OUU CITY OF PLYMOUTH LOQ -AL BOAR -A) OF APPEAL iAND E QUALIZATION A -p -r!] IS, 2 00 8 @ -7: 00 PM The pri-mary focus of tb.6 Local Boayd;4 A- ppeal 4nd -EctLialization. h to (g)nsider tho estimated mafkcrval-a6 ij-id/or--class:fflcdbon fo . r . lh( 200'8 assli ssineiil -Fo:r taxes payable in 2009, "1013 -pard j., o0t einpowc 0 to -aqjust tax -es' Namo I , kl-'A " - 0u.: T-k,6se'll-t ...... .... ah We 1!Qa6-1j. o rn Is the property i dmnttyfQ Isaj? f\-jn',j'r" -,wh'atjqtfi , I ri ? Y(-, 6. ask n g,p ct plea-s'e h."t any.imptoverpol ts"Inadc W yo -all pmperly sime your pur('hds('-* 1:9. i--— 2008 F-stimated-May-ket Va'lU:e (fi pjj"]' y6d-r V:cd.u LfiOnhotice) 2, q 70 2:007 Es ffillat6('I' myarkQt V41'aG. (1-01-a Owner's-opi.1)JOn-ofvaluo b.,: K --f\) A1- r-- Y(ul' appeal a-w8t bol%s(-d-QP th-, tRIQ MWICCt Vall4e:bT yol-r proper -Ly. plea'. Rs t fht I ' 6asona Why You bohve that ymt could. -aut sOil YOUT pr(yper-ty for thP V;Aluo' statpd on yoar 2008. valuation nortice; Please please SP61k to -2 -StAff 11 1*Atgak- a, th6n: rpAim'fbis fo= tP il-le Pty,,M01,Lffi ASSQSSQr'9 M. yo i wish'to vc bklty id&'eM 0-io Do-i- ard'? Yes CNO) Pty- movith Assessitig DMsion 3400,Plymo,ath Blvd. P') Yni ou ai, IVM, .5 4 47 r- - (Z Tl4iMs s, LAugrr- AgurA4clu. K20-0 ll"H AVE 9 CHMP'LIIA M 55-1414.-,.54 27- Yl6ur PmPOSed. VFOP rfy- tax I of- -2008 Important lvifon=Wq Lu Priatud MO. 4.-14* Ja thla,fanb 12-T.H AVV 20-5 TA=I -P- MA9-UiT ;VA-L.IJS Op ' TAYS-9., QUIP -80-0- )WniPTSAD 4007 TAXALLz MRKET VALJX T-Ok Thc) b0imbla nw*ot vaWes RAr -brppvy.iy tax pZYUW9. a'2= v 42.i,M to you -la. OW *4f4;Q&20Q7_ The.p W_tmui-', It 1,0. k4woo -hem Wyoff WTMiuw!* chang,315 has paq sod wW qh aWen., nofuuV2, be =do tu MAL AddFtSM* W OOrrO*pQN"Cq vx,ty 'of 'EMAMPLI)i l:b2MPllA HQnlolpal Untar C"Miel-ib tr thbOMMAP, livi 5!6;,jj V'rAT9 OVORRAL -VAX vctxwa,l biw-.rte;k til. APPPIO\Iikd Avyl LDdjj tdVJ-4.,r- 7u McDart utp-Oat Vann 11 M. - AAfuM-2W7 N%.kW.Tv Mu-lp, wz W- rA I f'M-- - 2!0 I Y, -5" ua 'rb&Lwt-UxA '.-QQtjL?-*d , , 11 11JAe;rafaraaiva vat?, fwtM-b--t, ix-:wva3F4M#1 twx h;L%F.ftvr tun uO op F",t Wmv4r, 'Wlagu DD -Ms 12 tlll-w Uttrol- Tc4t T ix rwlliytt ak-on, D-Pvr4ty TAXI W. T= l'nDrrLmu"- I-vy- go-13,4 W&kta tu&vUllw rutru rod- itut. qFOP4Alq4%LlL%l TRANSFER ENTERED HENNEPIN COUNTY TAXPAYER SERVICES SEP 0 6 2006 Y* IN C;U"Ty 11 City Project No. 6101 DRAINAGE/U'TILITY EASEMENT eg 7 THIS EASEMENTIS MADE and cntercd into this 15th day of August, 2006, by and between Paul E. Anderson, a single person, Grantor, and the. CTTY OF PLYMOUTH, L Minnesota Municipal CorjDoraiion, Grantee. Wl'I'NESSETH that whereas said Grantor is the fee owner of the tract of land in the County of I-1cm-tepin, Statu of Mim-tesota, descyibed as follmvs: DESCRIPTION OF PROPERTY: (PIN 13-118-22-24--.0033) C.T. ff 766782 Lot 3, BloGk 1, TOM HOUSE ADDITION, according to the recorded plat on file in the Registrar of TitIcs, Hennepin County, Minnesota, NOW THEREFORE, Grantor, in consideration of One DollaT- and other good aiid vatuable consideration, to it in hand paid by Grantee, rec6pt of which is hereby acknowledged, hereby graitts to said Grantee, its successors and assigns, the following casomerit is being granted to the 0[y for re,sol-ution of a previous drainage problem along with the understanding that the existing -fence shall be allowed to remain within the existing 5 -foot platted easement along the north property line unless rnainLerianqe within the casement area requires the fence to be ternpovarily removed, Any part of the fence that is renio-ved for required easernent inaintenwicc will be replaced. DESCRIPTION OF EASEMENT: A permat-ient drainage andutility easement o-vor, under, across and throu gh that part of the above described property lying 10.00 feet northerly and easterly of the following described line: Commencing at the northeast corner of said Lot 3-, thcricc southerly along the east line of said property a distance of 21,59 feet to the point of beginning of said easemont: Thenco noithwesterly on an assumed bearing of Nortb 82 degrees 45 minutes 29 seconds West, a distance of 82.73 -feet; ffience North 89 degrees 52 rninates 20 seconds West, a distance of 164.68 feet-, thence. Noith 03 degrees 41 inintites 49 seconds West, to the north line of said Lot 3 and there terininating, 11111111111111111111111111111111.1111 4 City Project No. 6101 Page 2 IN WITNESS WHEREOF, Grantor has heTeunto set his hand the day ancl year fh:st above written, STATE OFMINNESOTA SS COUNTY OF HENNEP IN The foregoing instrument was acknowledgedb efore me this /-5i day of A-ugust, 2006, by Paul E, Andmon, a single persoll This Instniment Draftu6 by: CITY OF PLYMOUTH 3400 Plymouth BI-vd. Ply nouffi, ),4N 554,47 Notary PZ 1- c 2009 6101NFSPIIISIAILdcmon CnSefflefflAou 11 j A Ln In I - z C) ul ! La 0ErL2 C) Ld Ld CD1) Doe No 430422B 09/12/2006 12:00 PM Certified filed and or recorded op above date: Office of the Registrar of Titles Hennepin County, Minnesota Michael H. Cunniff, Registrar of Titles TransID 253987 Deputy 37 New cert Cert Fees 766782 $1.50 AF 10. 50 STATE FEE 34.00 TDOCFEE 0.00 TSUR 46.00 Total REPORT # 4 2008 BOARD OF APPEAL & EQUALIZATION STAFF REPORT AND RECOMMENDATION PROPERTY OWNERS NAME: Ronald Miller PROPERTY ADDRESS: 5925 Vicksburg Lane North PID, #: 05-118-22-14-0006 LEGAL DESCRIPTION: N 300 FT OF E 759 FT OF NE/4EX ROAD PROPERTY TYPE: Residential Non -homestead 2008 MARKET VALUE VALUE PRIOR TO LOCALBOARD ASSESSOR'S RECOMMENDATION LAND MARK ET VALUE 280,000 426,200 STRUCTURE MARKET VALUE 161,000 Limited Market Value TOTAL MARK ET VALUE 441,000 No Change ASSESSMENT HISTORY 2006 2007 2008 Total Market Value 426,200 441,100 441,000 Limited Market Value 0 0 0 Improvement 0 0 0 DIAGRAM StY.Ht Dimeflsiorts Sq..Ft. 7 I/B 50 x 24 1,200 I/B 2 x 24 48 I/B 4 x 21 84 Ground Floor Area 1,332 2 d Floor Area 0 Gross Building Area 1.332 I D eck 1 6.5 1 x 1 15.5 1 = 1 101 1 I Attached 1 22 1 x 1 24 1 = 1 528 1 AT Q6, SUBJECT j FP1 A C-ItY.Of Pt, mouth Minnesota vI This represents a compilation of information and data from city, county, state and other sources that has not been field verified. Information should be field verified and compared with origiani source documents. N W+E S SALES COMPARISON ADJUSTMENT GRID ADDRESS: - 5925 Vicksburg Lane North 14475 40"' Place North 3950 Fernbrook Lane North 15605 45'h Avenue North PIFD# 05-118-22-14-0006 16-118-22-41-0048 15-118-22-32-0012 09-118-22-333-00056 SALE DATE: 8/07 6/07 8/07 SALE PRICE: 242,000 231,900 261,200 TfME ADJUSTMENT: 4%) 6%) 4%) ADJ.SA11,E PRICE: 232,320 217,986 250,752 TYPE OF BLDG: Rambler / Bsmt Same Same Same ABOVE GRADE FINISH: 1,332 932 +28000 990 +15390 1340 QUALITY: Average Average Average Average AGE: 1978 1981 1955 +25068 1981 CONDITION: Good Good Good Good BEDROOMS: 4 3 +3000 3 +3000 3 +3000 OF BATHS 2 2 2 3 (3000) FIN. BSMT. AREA: 879 732 +3675 635 +6100 1175 (7400) WALKOUT: Yes No +5000 No +5000 Yes FIREPLACES: I . 1 2 (5000) 2 (5000) GARAGE: 2 2 2 2 DECK: Yes Yes No +5000 Yes LOCATION: Busy Quiet (5000) Busy Quiet (5000) NET ADJUSTMENT: 34675 54558 17400) UTILITIES: Outside MUSA Inside 90000) Inside 90000) Inside 90000) EXCESS LAND: 0 4.86ac 337221 4.4ac. 305303 4.65ac 322648 ADJ SALE PRICE: 514,216 487,847 466,000 I Indicated value as of Jan. 2,2008 11 $466,000 VALUE CONCLUSION LOCATION: The subject is in an unplatted piece of property located in section 5, It is located approximately 1/8 mile south of the intersection of County Road 47 and Vicksburg Lane. It is located directly across fi-om the single family homes of the Taiyn Hills subdivision. SITE: The subject property is a five acre parcel that is bisected by a low area that comprises just under 1/3 of the parcel. The east side of the lot is well elevated, providing views to the west, with sorne deciduous trees and is serviced by Vicksburg Lane. The west side of the parcel is level and dry but only seasonably accessible. IMPROVEMENTS and FEATURES: The subject property was improved in 1978 with a 1,332 square foot ranibler purchased from a vocational school and moved oil to a walkout basement on the property. It has four bedrooms, three up and one down, and two batlis on the main floor. The finished basement area of 879 square feet contains a family room with a walkout to a patio area. There are two large contiguous parcels adjacent to the west property line of the subject. These parcels are owned by Scherber Investni-ents and are potentially developable. OWNERS CONCERNS: Mr. Miller is concerned that the 2008 valuation for payable 2009 does not reflect what he could have sold the property on January 2, 2008, or since that time. COMPARABLE #1 This comparable is located approximately two miles south and one half mile east of the subject property. it is similar to the subject in style, age, quality, condition, number of fireplaces, baths and garage stalls, and has a deck. Adjustments were made for above grade square footage, number of bedrooms, fmished basement area, location, and walkout. It is located in a platted residential neighborhood inside the MUSA and has no excess land area. COMPARABLE #2 This coniparable is located approximately two miles south and one half mile east of the subject property. It is similar to the subject property in style, quality, condition, and number of baths and garage stalls. It was adjusted for above grade square footage, age, number of baths and fireplaces, finish basement area, walkout and deck. It is located in a platted residential neighborhood inside the N1USA and has no excess land area. There was no adjustment for location du e to facing Fernbrook, a busy through street. COMPARABLE #3 This comparable is located approximately one inile south and two blocks east of the subject. It is similar to the subject property in style, age, above grade square footage, quality, condition,. walkout, number of garage stalls and deck. It was adjusted for number of baths, bedrooms and fireplaces, location, and finished basement area. It is located in a platted residential neighborhood inside the MUSA and has no excess land area. PENDING SALE I & 2 These are not comparables but are included as an illustration of the value of land assembled for development purposes. They were taken off the market on 10/18/07 with a projected closing date of February 2008. #1 was listed for 1,060,000 and #2 for $925,000. Their status is pending. RECONCILATION OF VALUE: The properties that Mr. Miller cites in his application are not sales or even listings and as such can not be used for comparison purposes. Currently this parcel is assessed and used as a site for a single family dwelling. The comparables used are the same except their location is in a subdivision located with in the Metropolitan Urban Service Area (MUSA). Adjustments were made to account for the utilities available inside the MUSA which are available to the cornparables. The utilities adjustment is the difference between the per acre value of land inside the MUSA with utilities and outside the MUSA with no utilities that have been observed in the Plymouth market by the assessing staff. An adjustment was made for the excess land of the subject versus the size of the comparables. The excess land value was established by the paired sale analysis below: Address Time Adjusted Sale Price Lot Size 15605 45th Avenue North 250,752 3 5 ac 14935 Co. Rd. 47 573,400 5.0 ac From the table, the difference in sale price divided by the difference in lot size yieldst an adjustment of $69,387 for each acre the subject property has that is more than the comparable. After careful consideration and the application of standard assessing practices it is the opinion of this assessor that the market value remain unchanged at: 441,000 a Vic) Michael Vander Linden, CMAS Appraiser 763) 509-5356 mvanderI@ci.plyi-nouth.mn.us Av% t.;omparable Sales Ma4 C-Y Of M outh Mihhe-SOta This represents a compilation of information and data from city, county, state and other sources that has not been field verified. Information should be field verified and compared with origianl source documents. N W+E S MATRIX Property Full Display, Lots & Land, MLS #: 3384619 14935 County Road 41, Plymouth, MN 55446 Status: Pending List Price: $925,000 Original List Price: $925,000 ft (Click icon to add to Watched Listings) MLS Area: 374 - Plymouth Secondary Area: 365 - Maple Grove/Osseo Front Dimensions: 375 Left Dimensions: 570 Right Dimensions: 595 Rear Dimensions: 375 Acres: 5.000 Min Lot Size 12,500 KOPP hlr- 14-6 3 5 G 0 U 11 t V- -F qginin, - Jun 45) Map Page: 90 Map Coord: dl Directions: Located on County Road 47 betweem Vicksburg and 494 in Wayzata school district. 0 (Click icon for Virtual Earth Map) TAX INFORMATION Legal Description: Property ID: 0411822130003 Tax Year: 2006 Tax Arnt: 3,657 Assess Bal: Tax w/assess: 3,657 Assess Pend: No Homestead: Yes Plat Recorded: N List Date: 05/22/2007 Received By MLS: 05/25/2007 Days On Market: 149 History Off Market Date: 10/18/2007 Selling Agent: Jeffrey B Chalin Projected Close Date: 02/28/2008 Selling Office: Bridge Realty, LLC Page 2 of 3 General Property Information Legal Description: Unplated 04 118 22 That Part Of 375 Ft. Of W 716 Ft. Of W 1/2 Of NE 1/4 County: Hennepin School District: 284 - Wayzata, 763-745-5000 Builder Restriction: Open Rest ricti on s/Covts: Land Inclusions: Abstract, For Sale Sign, Survey Improvements: None Zoning: 116sidential-Single Road Frontage: County Lot Description: Additional Land Available, Tree Coverage - Medium Available Utilities: Cable T.V., Electric, Natural Gas, Other, Sewer, Telephone, Water On Site Utilities: Cable T.V., Electric, Natural Gas, Other, Telephone Association Fee: Association Fee Frequency: Assoc Fee Includes: Development Status: Raw Land Fencing: None Farm Type: Hobby Tillable Acres: Topography: Rolling, Sloped, Walkout Soil Type: Clay Pasture Acres: Out Buildings: Crop Type: Wooded Acres: 4.00 Agric Water: Remarks Agent Remarks: Looking for a development? Here it is. Currently zoned 2-4 per acre, City services right next door with multi family dwellings. Additional 12 acres available for aproximatly 200K per acre, Development and land cost 5 mil. Selling minimum of 34 lots 10.2 mi Public Remarks: Great opportunity. Purchase this plus other land adjacent, Total profit from 5,000,000 up depending on total lots allowed. Currently zoned 2-4 could move up into 4-8 per acre, Plymouth single family lots in Wayzata school dist. goes for 300K plus. Financial Cooperating Broker Compensation httl):Ilmatrix.1-iortl-istal-i-nls.com/Matrix/display.aspx?c=AAEAAAD*****AQAAAAAAA... 10/26/2007 MATRIX Property Full Display, Lots & Land, MLS #: 3385509 15015 'County Road 47, Plymouth, MN'55446 Status: Pending List Price: $1,060,000 Original List Price: $1,060,000 ft (Click icon to add to Watched Listings) MLS Area: 374 - Plymouth Secondary Area: 365 - Maple Grove/Osseo Front Dimensions: 360 Left Dimensions: 598 Right Dimensions: 685 Rear Dimensions: 341 Acres: 5.000 Min Lot Size: Yes TAX INFORMATION Legal Description: Property ID: 0411822130011 Tax Year: 2006 Tax Amt: 4,971 Assess Bal: Tax w/assess: 4,971 Assess Pend: No Homestead: Yes Plat Recorded: Y List Date: 05/26/2007 Received By MLS: 05/29/2007 Days On Market: 145 History Off Market Date: 10/18/2007 Selling Agent: Jeffrey B Chalin Projected Close Date: 02/28/2008 Selling Office: Bridge Realty, LLC Page 2 of 3 General Property Information Legal Description: Unplatted 0411822 That Part Of W341 Ft Of SW 1/4 Of NE 114 Lying N Of 5626 County: Hennepin School District: 284 - Wayzata, 763-745-5000 Builder Restriction: Open Restrictions/Covts: Land Inclusions: For Sale Sign Improvements: None Zoning: Residential -Multi -Family, Residential -Single Road Frontage: Lot Description: Available Utilities: Cable T.V., Electric, Natural Gas, Other, Sewer, Storm Sewer, Telephone, Water On Site Utilities: Cable T.V., Electric, Natural Gas, Other, Telephone Association Fee: Association Fee Frequency: Assoc Fee Includes: Development Status: Raw Land Farm Type: Tillable Acres: Topography: Rolling, Sloped Soil Type: Pasture Acres: Out Buildings: Crop Type: Wooded Acres Agric Water: Remarks Agent Remarks: Looking for a development here it is. Currently zoned 2-4 per acre with multi services right next door with multi family dwellings. Addtional 12 acres avail for approx. 200K per acre. Development & land cost 17 acres 5 Mil. Selling min of 34 lot 10.2 mil. Public Remarks: Great opportinity. Purchase this + other land adjacent. Total profit from $5,000,000 up depending on total lots allowed. Currently zoned 2-4 could move up into 4-8 per acre. Plym. sing fam lots in Wayzata schl dist. Goes for 300K plus. Don' walk property Financial Cooperating Broker Compensation Buyer Broker Comp: 2.7 % Sub -Agent Comp: 0 016 Facilitator Comp: 2.7 0A Variable Rate: N List Type: Exclusive Right To Sell http://i-natrix.noitbstal-i-nls.com'lMatrixldisplay.aspx?c=AAEAAADI**"4'AQAAAAAAA... 10/26/2007 REPORT #5 2008 BOARD OF APPEAL & EQUALIZATION STAFF RE PORT AND RECOMMENDATION PROPERTY OWNERS NAME: Don Keefe PROPERTY ADDRESS: 4410 Polaris Lane North PID #: 16-118-22-21-0039 LEGAL DESCRIPTION: Lot 8 Block I Quail Ridge of Plymouth 4th PROPERTY TYPE: Residential Homestead 2008 MARKET VALUE VALUE PRIOR TO LOCALBOARD ASSESSOR'S RECOMMENDATION LAND MARKET VALUE 99,000 427,600 STRUCTURE MARKET VALUE 329,400 Limited Market Value TOTAL MARKET VALUE 428,400 No Change ASSESSMENT HISTORY 2006 2007 2008 Total Market Value 427,600 372,100 428,400 Limited Market Value huproven-lent 61,000 The subject property was visited for the 2007 assessment at the owner5s request following water darnage in the honie. The value was reduced for the 2007 assessi-ilent to compensate for the loss of value related to the damage. The full value was reinstated for the 2008 assessment after all repairs had been completed. Mr. Keefe was contacted Wednesday April 16"' at 8 A.M. He stated that he had been uninfornied regarding the assessment process and wanted to drop his appeal. He understood the value being restored but was unsure of the 2008 estimated market value after hearing so much media attention regarding the current residential sales market. He is content with his 2008 valuation and thanked the staff for taking the time to explain the assessment process in its entirety. The value remains unchanged at: 428,400 Janice Olsson AMA, RES Appraiser Supervisor 763-509-5355 j olsson@ci.pIYinouth.miI.us CITY OF PLYMOUTH LOCAL BOARD OF APPEAL AND EQUALIZATION April 15, 2008 @ 7:00 PM The primary focus of the Local Board of Appeal and Equalization is to consider the estimated mzuket value and/oy classification for the 2008 assessment for taxes payable in 2009. Tbe Board is riot enapowered to adjust taxes. Name Address: How call we reach you: Please list your telephone nun-iber: Home-,6' 3 5 -G -c -79,( Work -76 --; ,/) . 5'celi 3 y 3 -Y' - Purchase Price:. eo/, '5 5r, Purchase Date: - 511 /y I =: ? Ts 11-ic property currently for sate? If yes, What is il-ic asking price? - Please list any irnprovcnients made to your property since your p-Liretiase: 2008 Estimated Market Value (from your valuation notice) " - 12- `3, 1/ el -0 X 2007 Estimated Market Value (from your valuation notice)- 3 -'? 2 - Owner's opinion of value Yo -Lir appeal must be based on evidence tfiat the 2008 estimated market value exceeds the truc market value of your property. Please list the reasons why you b6lieve tl-lat you could not sell your property for the value stated on your 2008 valuation notice. Please attach any docuinciitatiolj to support your opinion. To reserve your figl-it to appeal, please speak to a staff appraiser as soon as possible and ttien retuin this forni to the Plymouth Assessor's office no later than Friday, April 11. Do you wish to verbally address the Board? Yes7—N—o Plymoutb Assessing Division 3400 Plymouth Blvd. Plymouth, MN 55447 763-509-5360 I Ila a Eel 614 2008 BOARD OF APPEAL & EQUALIZATION STAFF REPORT AND RECOMMENDATION PROPERTY OWNERS NAME: Pierre J. LaFrance PROPERTY ADDRESS: 4565 Norwood Lane Noith PID, # 11-118-22-33-0066 LEGAL DESCRIPTION: Lot 10 Block 3 S clmiidt Lk Hills PROPERTY TYPE: Residential Homestead 2008 MARKET VALUE VALUE PRIOR TO LOCALBOARD ASSESSOR'S RECOMMENDATION LAND MARKET VALUE 105,000 490,600 STRUCTURE MARKET VALUE 404,600 Limited Market Value TOTAL MARKET VALUE 509,600 No Change ASSESSMENT HISTORY 2006 2007 2008 Total Market Value 490,600 516,400 509,600 Limited Market Value 0- 0 0 Improvement 0 0 0 OWNERS CONCERN: Mr. LaFrance believes that his market value is overstated and would like the city to do an appraisal of his property. RECONCILATION OF VALUE: I had a phone conversation with Mi. LaFrance on April 18"'. He had been concerned that altliough the 2008 valuation was $6,800 lower than the 2007, he wasn't sure if he could sell the property for that amount. After talking to a realtor and giving it additional thought, Mr. LaFrance decided to withdraw his appeal. 509,600 PGUA K ftl Paul Ki1igsbuiy,CMA Appraiser 763 509-5357 pkingsbu@ei.pIyrnouth.=.us 6) // -- . 5311 - 4 k CITY OF PLYMOUTH LOCAL BOARD OF APPEAL AND EQUALIZATION April 15, 2008 @ 7:00 PM The primary focus of the Local Board of Appeal and Equalization is to consider the ss 'I aestimatedmarketvalueand/or classification for the 2008 asse me' t for taxes payable in 2009. The Board is not empowered to adjust taxes. _ C -<-- Address: AJ D Zt, 9),) How cA i Ae reach you: Please list your telephone number: Homqq-- -610 Work Cell Purchase Price: doo Purchase Date.— Is the property currently for sale? If yes, what is the askin /price? anyii naj)roven-ients made to your pro )crty since your purchase: 9 W tJ 0 0 A--rl -OAI -C 7 7 A /-0 / A "V 2008 Estimated Market Value (from your valuation notice) 2007 Estimated Market Value (from your valuation notice) 0 -ier's opinion of valuewl Your appeal must be based on evidence that the 20 ' 08 estimated market value exceeds the true market value of your property. Please list the reasons why you b6lieve that you could not sell your property for the value stated oil your 2008 valuation notice. Please attach any documentation to support your opinion. To *reserve your fight to Ippeal, 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 It. Do you wish to verbally address the Board? Yes//,—N Plymouth Assessing 15ivision 3400 Plymouth Blvd. Plymouth, MN 55447 763-509-5360 REP ORT #7 2008 BOARD OF APPEAL & EQUALIZATION STAFF RE PORT AND RECOMMENDATION PROPERTY OWNERS NAME: Denis & Janice Lawless PROPERTY ADDRESS: 1840 Holly Lane Noi th PID #: 29-118-22-31-0058 LEGAL DESCRIPTION: Lot 5 Block 5 Oakdale West PROPERTY TYPE: Residential Homestead 2008 MARKET VALUE VALUE PRIOR TO LOCALBOARD ASSESSOR'S RECOMMENDATION LAND MARIUT VALUE 92,000 92,000 STRUCTURE MARKET VALUE 407,800 360,100 TOTAL MARKET VALUE 499,800 471,300 ASSESSMENT HISTORY 2006 2007 2008 Total Market Value 531,400 517,600 499,800 Limited Market Value Improvement SUBJECT PROPERTY AERIAL VIEW OF SUBJECT PROPERTY 18.0 -10 POOL 38.0\ \ 1 3PECK 12 40 31.5 A 2 28 E;.?< 1 22 .10114 10 I DIAGRAM S y Ht, Dimensions: :-Sq.Fl.-: I/CRAWL 22 x 14 308 l/CRAWL 8 x 14 112 2/BSMT 40 x 28 1120 2/BSMT 2 x 28.5 57 2/BSMT 1.5— x 14 21 OH I x 10 10 2/OH I x 12 12 2/OH 1.5 x 14.5 22 Ground Floor Area T1628 2 nd Floor Area 1232 Gross Building Area 2860 For&es/D-ecks-:- PORC 14 x 1 12 168 DECK 20 x 44 880 Garages - GARAGE 24 x 24 576 14 x 10 140 Total Garage Area 716 Subject Location Map LOCATION MAPb k City of .% F+r wull), lim" d nugrsam" 1hat "i fal 'affla Ifirwo"'114"k] W JIM Plymouth, MN SALES COMPARISON ADJUSTMENT GRID afcra A ADDRESS: 1840 Holly Lane North 17020 19"' Avenue North 17330 6" Avenue Norfli 2230 Zanzibar Lane North 17110 19"' Avenue North PID# 29-118-22- 31-0058 29-118-22-24-0063 32-118-22-23-0041 29-118-22-13-0080 29-118-22-23-0017 SALE DATE: 12/06 6/07 5/07 3/06 SALE PRICE: 480,000 460,000 457,000 448,000 TIME ADJUSTMENT: 2%) 2%) 2%) ADJ.SALE PRICE: 470,400 450,800 447,860 448,000 TYPE OF BLDG: 2 Story 2 Story 1 2 Story 2 Story 2 Story ABOVE, GRADE FINISH 2,860 2,724 9520 2,200 46200 2,238 43540 2,717 10010 QUALITY: Above Avg Ab.Avg Ab.A%lg Ab.Avg Ab.Avg AGE: 1983 1983 1980 1987 2%) 8957) 1983 CONDITION: Avg Avg Ab. Avg. 30000) Avg. Avg. BEDROOMS: 4 4 4 4 4 OF BATHS DX+ I 1/2+1/2 DX +1 3/4+1/2 1000) 1+3/4+ 1/2 5000 DX+I+ 1/2 2500 DX+l + 1/2 2500 FIN. BSMT. AREA: 500 1366 21650) 400 2500 960 11500) NONE 12500 WALKOUT: NO NO NO YES 5000) NO FIREPLACES: 1 1 2 5000) 2 5000) 1 GARAGE: 2+ STORAGE 2+ STORAGE 2 3000 2 3000 2 3000 DECK: LARGE NONE 8000 AVG 3000 AVG 3000 AVG 3000 PORCHES: YES YES YES YES —_ YES POOL: YES NO 6000 NO 6000 NO 6000 NO 6000 LOCATION: Oakdale West Oakdale West Burl Oaks Steeple Chase- Pond View 3000) Oakdale West NET ADJUSTMENT:- 870 30700 24583 37010 ADJ SALE PRICE: 471,270 481,500 472,44-1 485,010 INDICATED VALUE AS OF JANUARY 2,2008: 11 $ 471,300 COMPARABLE SALES COMPARABLE #1 COMPARABLE #2 17020 19t" Avenue 17330 6"' Avenue COMPARABLE #3 2230 Zanzibar Lane COMPARABLE #4 17110 19"' Avenue VALUE CONCLUSION LOCATION: The subject property is located in the Oakdale West subdivision. It is approximately 1/4mile east of County Road 101 and 1/4mile north of County Road 6. The home is located on a cul-de-sac. SITE: The site is average size for this neighborhood, .42 acres, approximately 125 feet x 148 feet. The elevation is mostly level, gradually sloping downward to the street. IMPROVEMENTS and FEATURES: The two story home was built in 1983. It has 2,860 square feet finished above grade featuring a living room, formal dining room, kitchen with island and an informal dining area, family room with fireplace, 4 bedrooms and 2 1/2 baths. An additional 500 square feet is finished in the basement which includes a recreation room and all additional 1/2 bath. The informal dining area steps down to a three season porch. The home has a 2 car garage with a bonus 10 foot x 14 foot area that could be used for storage or a workshop. A beautiful asset to this home is the backyard. It features extensive decking, landscaping, and pool. The home is in average condition. It has been well maintained, however there have been no major remodels on the propel ty. OWNERS CONCERNS: Denis & Janice feel the 2008 market value of their home is too high due to depreciation. COMPARABLE #1 This property is located in the Oakdale West neighborhood on a through street. It is .42 acres in size. A walking trail runs along the west side of the property. The home was built in 1983, has 2724 sq.ft. finished above grade with an additional 1366 finished in the basement. The home features a three season porch. There have been no major remodels since the house was built. The garage in this home is 25 feet wide and 32 feet deep. It is a functional two car garage with additional area for storage. No attention has been given to the backyard of this property; it lacks a deck and has no landscaping. COMPARABLE #2 This property is located in the Burl Oaks neighborhood on a through street. The parcel is 1/3 acre in size. It was built in 1980, has 2,200 sq.ft. finished above grade with a 400 sq.ft. recreation room finished in the basement. The home has been updated including a granite upgrade in the kitchen. The three season porch walks out onto a deck and wooded backyard. It has a standard two car garage. COMPARABLE #3 This property is located in the Steeplechase neighborhood on a cul-de-sac and is 1/3 acre in size. It was built in 1987, has 2,238 sq.ft. finished above grade with and additional 960- sq.ft. finished in the walkout basement. The home has had no major remodels. It features a three season porch that walks out onto a deck. There is little landscaping in fhe backyard, however the backyard does back to a walking trail and overlooks a pond. It has a standard two car garage. It has no pool. COMPARABLE #4 This property is located in the Oakdale West neighborhood on a through street. It is .42 acres in size. It was built in 1983, has 2717 sq.ft. above grade with an unfinished basement. The home is above average quality with no major remodels. It features a three season porch that walks out onto a deck.. The backyard has little landscaping, however it does feature a row of trees along the back lot line. It has a standard two car garage. RECONCILATION OF VALUE: I visited and viewed the interior of the subject property on April 18, 2008. Janice and I discussed the current market. She shared three sales from her neighborhood as evidence that her 2008 market value is too high. I used two of sales, Comparable #1 and #4. The third sale was not used because the date of sale was 2004 and therefore too long ago for this appraisal. The second half of 2007 brought an average market value decrease of 2% to most residential properties in our city. Due to that fact I have made a negative time adjustment of 2% for Comparable #1, 2, and 3. 1 made no time adjustment for Comparable #4 because it sold in March 2006 and our average market adjustment for 2006 was increased 2%, but the 2007 adjustment decreased 2%. I feel Comparable #1 is the most similar to the subject property because it is also located in the subject's Oakdale West neighborhood, has similar above grade finish and built the same year. It is similar having no major remodeling or upgrades. It also has no walk -out elevation and has a three season porch. It is also similar offering a large storage area in the garage. This comparable does offer more finish in the basement, however lacks the backyard amenities of a deck, trees, landscaping and a pool. Comparable #2 is located I mile south of the subject. It- is smaller in above grade finish but is in above average condition with updating throughout and upgrades in the kitchen. It is similar in basement finish area, has a three season porch and deck and offers a private wooded backyard, but no pool. Comparable #3 is located approximately 1/2mile east of the subject. It is similar being located on a cul-de-sac. It has less square footage above grade but does offer more finish in the basement. This property is similar in condition with no major remodels. It has a three season porch and deck, but lacks a pool. This is the only property that offers a walk -out elevation and pondview. Comparable #4 is located in the subject's neighborhood, has similar above grade finish. However, it lacks a recreation room and '/2 bath in the basement that the subject property offers. It does have a deck and three season porch, but lacks the extensive landscaping and pool. Because Janice wanted me to consider Comparable #4, 1 included it as one of my comparables even though it sold nearly two years ago. Because Comparable #1 has the most similarities to the subject and has the least amount of net adjustments it is the opinion of this appraiser to adjust the subject property to the adjusted sale price of Comparable #1 of 47t,300. I contacted the owner on April 24, 2008 and she agreed with the recommendation. Cindy Bowman, CMA Residential Appraiser 763) 509-5353 cbowman@ci.plymouth.mn.us NIAP OF COMPARABLES ISBN" I Comparable -Sales Map RIG wz""Ln awwor'm. 0I'fQr"pflr'WCityof wircd TnTmwivwsbcald to UMrt .17=1z", Plymouth, IVIN W-rwj 13 ad ffpmd Mno(Via I 7 CITY OF PLYMOUTH LOCAL BOARD OF APPEAL AND EQUALIZATION April -15,2008 gc7:OOPM. The primary focus of the Local Board of Appeal and Equalization is to consider the estimated market value and/or classification for the 2008 assessment for taxes payable in 2009. The Board is not empowered to adjust taxes. Nam N 0zLa IgAv- 140 /.QAddress: / I--, k How can we reach you: Please list your telephone number:/ Homelk3-4f73 — Work --ceii 41/Z- 4-6 /(/1 J 0 -D 7 Purchase Price:1 ;Z-9 - 4) 6)-o Purchase Date: -09 Is the property currently for sale?— W() If yes, what is the asking price?_ Please list any iniprovernents made to your property since your purchase: 9010 7?()() F , 0 U-Ifp-v-s 11 ,A -Q- 2008 Estimated Market Value (from yotiT valuation notice) - r /- 6 o V- o 2007 Estimated Market Value (from your valuation notice) Y/ 2 Owner's opinion of value Your appeal ii -rust be based on evidence that the 2008 estimated market A/aluc exceeds the true market value of your property, Please list the reasons why you b6lieve that you could not sell your property for the value stated on your 2008 valuation notice. Please attacb any doc-anlentation 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 I L Do you wish to verbally address the Board? Yes Plyniouth Assessing Division 3400 Plymouth Blvd. Plyniouth, MN 55447 763-509-5360 REPORT #8 2008 BOARD OF APPEAL & EQUALIZATION STAFF REPORT AND RECOMMENDATION PROPERTY OWNERS NAME: Ron Prokosch PROPERTY ADDRESS: 4900 Underwood Lane North PH) ff: 10-118-22-42-0137 Unitl 10-118-22-42-0138 UnitJ LEGAL DESCRIPTION: Long Legal PROPERTY TYPE: Condominium Non -Homestead 2008 MARKET VALUE -Unit I VALUE PRIOR TO LOCALBOARD ASSESSOR'S RECOMMENDATION LAND MARKET VALUE 58,000 58,000 STRUCTURE MARKET VALUE 169,800 147,200 TOTAL MARKET VALUE 227,600 205,200 ASSESSMENT HISTORY 2006 2007 2008 Total Market Value Sub divided in 2007 68,600 227,600 Limited Market Value 0 0 0 Irnproveinent 0 6,000 163,600 2008 MARKET VALUE -Unit J VALUE PRIOR TO LOCALBOARD ASSESSOR'S RECOMMENDATION LAND MARKET VALUE 73,000 73,000 STRUCTURE MARKET VALUE 175,400 132,200 TOTAL MARKET VALUE 248,400 205,200 ASSESSMENT HISTORY 2006 2007 2008 Total Market Value Sub divided in 2007. 68,600 248,400 Limited Market Value 0 0 0 Irnprovenient 0 6,000 169,400 OWNERS CONCERNS: The 2 units were each purchased for $205,200, in July and September 2007 respectively, The owners asked for the units to be reviewed and the valuation reduced from $227,600 to $205,200 on Unit I and from $248,400 to $205,200 on Unit J. RECONCILATION OF VALUE: I reviewed the two properties on April 18"', 2008. 1 concur that the new 2008 Estimated Market Valuations should be $205,200 for each unit. The owners were contacted on April 21, 2008 and agreed to $205,200 as the adjusted estimated market valuation for 2008 for each unit. 205,200 Paul Kingsbury CMA Appraiser 763 509-5357 pkingsbu@plyinouthmn.us I CITY OF PLYMOUTH LOCAL BOARD OF APPEAL AND EQUALIZATION April 15, 2008 @ 7:00 PM The primary focus of the Local Board of Appeal and Equalization is to consider the estimated market value and/or classification for the 2008 assessment for taxes payable in 2009. The Board is not en-ipowered to aqjust taxes. Name A 19 Cl- (11 14 Address:— How can we reach you: Please list your telephone number: Home Work cell Purchase Price: Purchase Date: Is -t1-10 property currently/for sale? If yes, what is the asking price? Please list any improvements made to your property since your purchase: 2008 Estimated Market Value (from your valuation notice) OC) 2007 Estimated Market Value (from your valuation notice)— Owner's opinion of value Your appeal must be based on evidence that the 2008 estimated market value exceeds the true market value of your property. Please list tl-ie reasons why you b6lieve that you could not sell your property for the value stated on your 2008 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 forni to the Plymouth Assessor's office no later t1ian Friday, April It. L-T -1 -M 0 Do you wisb to verbally address the B Plymouth Assessing Division 3400 Plymouth Blvd. Plymout]-i, MN 55447 763-509-5360