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Home My WebLink AboutCity Council Packet 04-20-2010 BOE.pdfCITY OF PLYMOUTH BOARD OF EQUALIZATION RECONVENED AGENDA APRIL 20, 2010, 7:00 p.m. COUNCIL CHAMBERS 1. Call to Order. 2. Council Action on Recommendations 3. Adjourn. Board of Equalization Reconvened April 20, 2010 2010 Local Board of Appeal & Equalization Staff Recommendations Reports PID Number 2010 Estimated Market Value Staff Recommendation 1. Roberto DeGaetano 12-118-22-22-0025 175,300 185,000 2. Todd Hollands 19-118-22-23-0066 788,800 651,600 3. Jerry Lorenzini 22-118-22-14-0024 421,200 No Change The above properties have been inspected by the assessing staff. All appeals have been settled and the property owners are in agreement with the recommendations. Page 1 REPORT # I 2010 BOARD OF APPEAL & EQUALIZATION STAFF REPORT AND RECOMMENDATION PROPERTY OWNERS NAME: Roberto DeGaetano PROPERTY ADDRESS: 5274 Ximines Ln N PID #: 12-118-22-22-0025 LEGAL DESCRIPTION: Lot 17 Block 4 Harrison Hills PROPERTY TYPE: Townhome 2010 MARKET VALUE VALUE PRIOR TO LOCAL BOARD ASSESSOR'S RECOMMENDATION LAND MARKET VALUE 50,000 50,000 STRUCTURE MARKET VALUE 125,300 135,000 TOTAL MARKET VALUE 175,300 185,000 ASSESSMENT HISTORY 2008 2009 2010 Total Market Value 200,700 188,200 185,000 Limited Market Value 200,700 188,200 185,000 Improvement 0 0 9,700 Page 2 RECONCILATYON OF VALUE: An inspection of the property was conducted on April 9, 2010. The appraiser observed additional basement finish, an upgraded bathroom on the lower level, upgraded baseboard and new door and window trim through out the home. After accounting for the improvements it was determined by this appraiser that the value should be increased by $9,700.00. Mr. DeGaetano was contacted and agreed to the increase in value thereby dropping his appeal. It is the opion of this appraiser that the 2010 assessed value should be: 185,000 j- LOJ Michael Vander Linden, CMAS Appraiser 763) 509-5356 mvanderl@plymouthmn.gov Page 3 I L;Ity oT F'iymouin Assessing Division 2010 Local Board of Appeal and Equalization Assessment Application 3400 Plymouth Blvd Plymouth, IwDr 1 55447 Phone: 763-509-5360 Fax: 763-509-5060 Email: JHebert@ci.plymouth.mn.us Return this form to the City of Plymouth Assessing Division no later than April 2, 2010. By submitting this application your appeal will be entered into the record. It is not required to attend the Board meeting. Date: Owners Names) I 1 L' t'r Office Usq Only Date Returned: Received via: S v/fir r Date Withdrawn: Withdrawn via: Dist Nbad G%f1ri Home Number: - Work Number: '7 & 3 - 293 - 3Z-2 Cell Number: Fax Number: Address: % Z 7' 1,,' j,v e r ! %` A/ Zip Code:—S'Email: _ i Crsc-l'af` 7 1-tater Property 11): /9- 149 - d,-- - Ud--; -5-Purchase Date: C,' 7 Property Address: lh•hCf !N Purchase Price: 1 2010 Assessor's Estimated Market Value: 1 73 ; 3 1 G Additions, renovations, or improvements since purchase 7 ti 1 e-Lv lhteriak', /1 }r app1i4iref. lyo-, 1 r // Y S°h tl r Cor=fir rAfzf - Cost of I'm rovements since purchase: D d Owner's opinion of Estimated Market Value as of January 2, 2010 What are the reasons or documentation supporting the owner's opinion of market value? Please attach supporting Documentation) Signature of applicant Date/ I Page 5 J- REPORT # 2 2010 BOARD OF APPEAL & EQUALIZATION STAFF REPORT AND RECOMMENDATION PROPERTY OWNERS NAME: Todd Hollands PROPERTY ADDRESS: 3160 Xanthus Lane North PID #: 19-118-22-23-0066 LEGAL DESCRIPTION: Lot 4 Block 1 Churchill Ridge PROPERTY TYPE: Residential Homestead 2010 MARKET VALUE VALUE PRIOR TO LOCAL BOARD ASSESSOR'S RECOMMENDATION LAND MARKET VALUE 220,000 220,000 STRUCTURE MARKET VALUE 568,800 431,600 TOTAL MARKET VALUE 788,800 651,600 ASSESSMENT HISTORY 2008 2009 2010 Total Market Value $870.700 $832,100 $788,800 Limited Market Value Improvement $ 670.700 Page 6 OWNERS CONCERNS: Mr. Hollands appealed his valuation for 2010/payable 2011. He reviewed several sales in 2009, and thought those comparables supported a lower valuation.The valuations ranged from $150-$175 a square foot, and his is home valued at 265 a square foot. He originally paid $908,508 for the property in 2007, he now feels the current valuation should be less than $700,000. Page 7 04/46/2010 TUB 14,56 FAX FAX (763) 509-5060 To: Paul Kingsbury From: Todd Hollands Subject: Property valuation would like to appeal the valuation on my house for my taxes payable in 2011. 1 do not agree with the current valuation. I have reviewed several sales the fiscal year ended September 2009 and most of the sales support a lower valuation. many of the comparables had more finished square feet, larger yards and were valued less than my house. Many of the valuations ranged from $150 to $175 a square foot, whereas mine is currently valued at over $265 a square foot. I would appreciate an evaluation of the property to refine the valuation. originally paid $908,508 in July 2007 and the current valuation is $788,800. Based on the comparable transactions I believe the value should be less than $700,000. Regards, Todd Hollands U, 001/001 Page --8 - _ RECONCILATION OF VALUE: I visited the property in November 2007 to do an interior inspection of the completed home as part of the new construction for the 2008 assessment. I was not granted entry of the home at that time. The original plan for the home was to include finishing a large portion of the area over the garage and about 1200 square feet of the basement was to be finished as well. Mr. Hollands had purchased the property in July 2007 for $908,500, and without an interior inspection, it was assumed that those two areas were completed. The square footage was adjusted after reviewing the property on April 7, 2010. The two areas mentioned above had not been completed as the plan had indicated. The value was lowered because of the correction to the finished square footage and comparable sales. I called Mr. Hollands back on April 13`x', he confirmed the new 2010 valuation at: 651,600 Paul Kingsbury, CNIA Appraiser 763-509-5357 pkingsbu@plymouthmn.gov Page 9 REPORT #3 2010 BOARD OF APPEAL & EQUALIZATION STAFF REPORT AND RECOMMENDATION PROPERTY OWNERS NAME: Jerry and Joann Lorenzini PROPERTY ADDRESS: 3210 Rosewood Lane N. PID 9: 22-118-22-14-0024 LEGAL DESCRIPTION: Lot 2 Block 3 Heritage Ridge PROPERTY TYPE: Residential Homestead 2010 MARKET VALUE VALUE PRIOR TO LOCAL BOARD ASSESSOR'S RECOMMENDATION LAND MARKET VALUE 110,000 No change STRUCTURE MARKET VALUE 311,200 No Change TOTAL MARKET VALUE 421,200 No Change ASSESSMENT HISTORY 2008 2009 2010 Total Market Value $478,700 $434,900 $421,200 Limited Market Value Improvement Page 10 I SUBJECT PROPERTY Page 11 DIAGRAM Sty Ht Dimensions Sq.Ft. 1/B 14 x 13 — 182 14 x 20 = 280 2/B 13.5 X 12 = 162 5 x 14 = 7 12 x 30 = 360 13.5 x 19 = 256 7 x 14 = 98 OH 2 x 7.5 — 15 2/OH 1.5 x 13.5 = 20 1 x 7 — 7 Q/G 13.5 x 19 = 256 7 x 23 = 161 Ground Floor Area = 2 Id Floor Area = Gross Building Area — 1360 1327 2687 Porches/Decks Deck 12 x 12 144 Open Porch 12 x 1 4 48 Garages Garage 13.5 x 22 297.5 20 x 24 480 Garage Area 1= 778 Page 12 City of Plymouth, MN Medicine Lake Subject Location Map This represents a cortplafion of infomwkn atd data fcm city, oounty.srare and ater sources that has rot been Feld tQdied- hfamnon stmid be field tented and carnpa+ed w dh origianl source doctmem. nv Page 13 I I kj,5) Y NZ 12g,30-., 7tqA 12 04, 2 12915 1 46 q -1 Subject Site Map 3225 0, N 7 JZU3 '4 8125 foal Subject Aerial Map 12925. 0 L Page 14 COMPARABLE SALES COMPARABLE #1 13000 34TH Ave. N. COMPARABLE 42 12925 34`h Ave. N. COMPARABLE #3 3405 Rosewood La. N. COMPARABLE #4 3180 Sycamore La. N. Page 15 SALES COMPARISON ADJUSTMENT GRID Subject: Comp #1 Comp #2 Com #3 Com #4 ADDRESS: 3210 Rosewood La 13000 34th Ave 12925 34th Ave 3405 Rosewood La 3180 Sycamore La PID: 22-118-22-14-0024 22-118-22-11-0060 22-11B-22-11-0048 22-198-22-11-0041 22-118-22-14-0011 SALE DATE: Aug -09 Sep -09 Nov -08 Jul -09 SALE PRICE: 400,000 410,000 430,000 473,500 FINANCING/POINTS PD BY SELLER 5,000 10,500 ADJ. SALE PRICE 39.5,000 410,000 430,000 463,000 TIME ADJUSTMENT- 4%/MONTH 2.00% 1.60% 5.20% 2.40% 7,900 6,560 22,360 11,112 ADJ. SALE PRICE 387,100 443,440 407,640 451,888 TYPE OF BUILDING: 2 Story 2 Story 12 Story 2 Story Split Level ABOVE GRADE FINISH:$50 2687 2234 22650 2616 3550 2565 6100 1810 43850 QUALITY: Above Avg. Avg.-Ab.Avg 5000 Avg.-Ab.Avg 5000 Avg-Ab.Avg 5000 Ab.Avg AGE: 112% per year 1989 1985 7742 1981 16138 1981 16306 1988 CONDITION: Avg Avg Avg Avg. Ab.Avg 20000 BEDROOMS: 4 4 3 30004 4 OF BATHS: 3+112 3+112 2+112 4500 3+112 3+112 FIN.BSMT AREA: $251$40 800 -Avg. 780 None 20000 1000 5000 1235-Ab.Avg 29400 WALKOUT: No No W/O -7500 No W/o 7500 FIREPLACES: 1 1 3 -100002 5000.1 GARAGE: 3 car 2+Car 5000 3 Car 2 Car 10040 3 Car DECK: Yes Yes Yes No 5000 Yes PORCHES: No No No Small 10000 No POOL No No No Yes 6000 No LOCATION: Heritage Ridge,.34 Ac., Backs to NW Blvd Heritage Est 2nd .37 ac Through Sstreet 1 -5000 Heritage Est 2nd .51 Ac - Through Street, Backs to Nature 1 -8000 Heritage Estates, .35 Ac, Corner Lot 5000 Heritage Ridge, 35 Ac 5000 NET ADJUSTMENT: 35,392 26,688 11,406 18,050 u ADJ. SALE PRICE: 422,492 430,128 419,046 433,838 ROUNDED ADJ SALE PRICE: 1 422,500 430,104 1 $419,000 1 $433,800 VALUE January 2, 2010: 1$426,400 VALUE CONCLUSION LOCATION: The subject neighborhood is centrally located within the city. It is approximately one mile north of State Highway 55 and is just west of County Road 61, or Northwest Boulevard. The property is located in the Heritage Ridge subdivision, Lot 2 Block 3. The home is located on Rosewood Lane, a dead-end, cul-de-sac street, one lot north of 32nd Avenue. The property backs to Northwest Boulevard. SITE: The site is an interior, rectangular shaped lot, 81 feet wide along Rosewood Lane, 98 feet wide along Northwest Boulevard and 164 feet deep, for a total of .34 acres in size. It has level topography. It has average landscaping with a few trees and shrubs in the front yard. The backyard features pine and deciduous trees towards the back of the property which provides some noise and visual screening from Northwest Boulevard. IMPROVEMENTS and FEATURES: The home is two story style, built in 1989. It has 2687 square finished above grade. The main floor includes a living room, formal dining room, kitchen with island and informal dining area, family room, laundry area, and % bath. The second floor includes four bedrooms a full bath and master bathroom with separate tub and shower. The home has an additional 800 square feet of average basement finish including 2 family room/recreation areas and a 3/a bathroom. The home has a full basement, and lacks a walk -out elevation. The home features a fireplace in the family room on the main level, a deck and a three car garage. The home has been well maintained. The kitchen has been upgraded with granite countertops. The millwork and cabinetry is original. The exterior of the home is wood and brick with a cedar shake roof. Most homes in the Heritage Ridge neighborhood, including the subject, are above average in quality. OWNERS CONCERNS: Jerry Lorenzini attended the Local Board of Appeal and Equalization meeting on April 6, 2010 and submitted a written appeal. Thursday, April 8, an on-site interior inspection was conducted. I spoke with Joann Lorenzini at that time. She feels the 2010 market value exceeds what they could sell their property for. In the past 12 months she was aware of one sale in their immediate neighborhood and was not aware of any other sales. She addressed concerns with high property taxes and felt it was unfair for a property owner to pay taxes on market values from the previous year. I explained Minnesota state statutes sets the time frame for sales we use for our assessments each year and the previous years assessment is the basis for calculating the present year tax. For additional information I told her page 14 and 15 of the booklet provided at the meeting on April 6 included an explanation of the effects of an Page 17 appreciating versus depreciating market in relation to property tax. She also addressed concerns regarding paying higher taxes on her home compared with the home located next door to hers located at 3220 Rosewood Lane. Later that morning I called Jerry Lorenzini and asked if he had any specific reasons or data to show why he feels his property is valued too high. He feels the one property in his neighborhood that recently sold looked larger than his and was maybe not comparable. He then asked me about information presented at the meeting indicating the average single family home decreased 5.7 percent, mentioning his decreased less than the average. I explained the 5.7 percent was the average decrease for all single family residential, but some neighborhoods were more and some were less depending on sales activity in each neighborhood. I calculated his value having a decrease of 3.2% for the 2010 assessment. I explained the sales activity in his neighborhood for the 2009 assessment indicated a 10 percent decrease for his value, whereas the average decrease was only 4.8 percent across the city. COMPARABLE #1 Comparable #1 is located on a through street approximately one half mile north of the subject property in Heritage Estates 2nd subdivision. It is a two story home built in 1985. It has 2234 square feet finished above grade which is approximately 450 square feet smaller than the subject. The attached garage is 20 feet wide by 34 feet deep accommodating two cars with additional space in the rear of the garage to store a vehicle sideways. It is similar to the subject with the same basement finish area, same number of bedrooms and bathrooms, has one fireplace, a deck, and no walk -out elevation. The house is well maintained with no major remodeling. COMPARABLE #2 Comparable #2 is located on a through street approximately one half mile north of the subject property in Heritage Estates 2nd subdivision. The backyard enjoys a nature view with a city walking trail to the rear of the property. It is two story home built in 1981. The above grade square footage, which includes an all season sun porch, is similar in size to the subject, however lacks one bedroom and one bathroom compared to the subject. It has no basement finish; however it features 3 fireplaces and a walk -out elevation. It is similar to the subject having a deck and 3 car garage. The house is well maintained with no major remodeling. COMPARABLE #3 Comparable #3 is located on a corner site approximately one half mile north of the subject property in Heritage Estates subdivision. It is a two story home built in 1981. It is similar in overall finished size, having 122 square feet less above grade, but 200 square feet more basement finish compared to the subject. It has the same number of bedrooms and bathrooms, no walk out elevation. It has a 2 car garage, however features a pool and small 3 season porch. The home is well maintained with updated granite counters in the kitchen, but no major remodeling. Page 18 COMPARABLE #4 Comparable #4 is located in the subject neighborhood, Heritage Ridge. Both are located on dead-end cul-de-sac streets. Comparable #4 is located on a corner lot with a shallow backyard. Comparable #4 was built in 1988 and is a four level split style home. There is 1810 square feet of above grade finish and 1235 square feet of below grade finish. It features a walk -out elevation. The house is similar offering the same number of bedrooms and bathrooms, a deck and 3 car garage. The kitchen features original cabinetry with upgraded granite counters. The main level bathroom was completely remodeled in 2005. The house was recently upgraded with a travertine entry, custom closets and all new light fixtures. The house is well maintained and above average condition. RECONCILATION OF VALUE: Based on the sales comparison approach to value, four recent comparable sales were chosen and used as the basis for this appraiser's opinion of market value as of January 2, 2010. Adjustments were made for points paid by seller, and then a downward adjustment was made for market conditions. Comparable #l, 2, and 3 are all two story homes located in the Heritage Estates neighborhood, approximately 1/z mile north of the subject. The homes are average to above average in quality, also built in the 1980's, but are five to eight years older than the subject. Comparable #4 was the only sale during the past year located in the subject's neighborhood. Even though it is split level style it was chosen as a comparable because of the neighborhood, finished size, quality of construction, and age. Adjustments were made to the comparables for finished size above grade as well as basement finish, age and condition, and amenities. An adjustment was also made based on the subject's proximity to Northwest Boulevard. The sale price range before adjustments is $400,000 to $473,500. The sale price range after adjustments is $419,000 to $433,800 with a mean, or average, sale price of $426,400. It is the opinion of this appraiser that the estimated market value for the subject property as of January 2, 2010 remains unchanged at: 421,200 I spoke with Mr. Lorenzini on April 12, 2010 and discussed the comparable sales and adjusted sale prices. He agreed with my findings and opinion of value. Cindy Bowman, CMA Residential Appraiser 763-509.5353 cbow-man@plymouthnin.govplymouthmn.gov Page 19 Comparable Sales Map, N I 1 Thismpme Macmiph6onolinbmvF;onwd yy _- E data tom ory,omeA.sGto and alherswaca thalus ml been SeldvedW. bioana4un!hovlddefield eeriled and canpaed wi0i origiaN SAvoe documerds. Plymouth, MN Page 20 City of Plymouth Assessing Division 2010 Local Board of Appeal and Equalization Assessment Application I1A 3400 Plymouth Blvd Office Use Only Plymouth; MLI 55447 Date Returned:/I1 Phone: 763-509-5360 Fax: 763-509-5060 Received via: ;1 `!,E 17 r Email: JHebert@ci.plymouth.mn.us Date Withdrawn: Return this form to the City of Plymcuth Assessing Withdrawn via: Division no later than April 2, 2010. By submitting this application your appeal will be entered into the record. It is not required to attend the Board Int;etLllg. Date: Owners Name(s) ! / / 6=rL•{id/' G(c `` Address: Zip Code: 00,00 Is ./ ,. A5A1i Dist lv`bad Appraiser 'C f 'r-1/ 1' Home Number: ;; 3 Z6 97 Work Number: 2Ca j rj_f &21V _ Cell Number: 4; 11-LG rt `jf Fax Number: Email: Date: Property Address: Purchase Price - 27 0 10 rice-' 3010 Assessor's Estimated Market Value: Additions, renovations, or improvements since purchase: Cost of improvements since purchase: What are the reasons or documentation supporting the owner's opinion of market value`' Please attach supporting Documentation) Owner's opinion of Estimated Market Value as of January 2, 2010 O ry Sianature ofapplica t Date ' /a Page 21