HomeMy WebLinkAboutCity Council Packet 04-29-2003 BOEAgenda
City of Plymouth
Board of Appeal and Equalization Reconvened
from April 15, 2003
Tuesday, April 29, 2003
7:00 p.m.
Council Chambers
1. Call to Order
2. Council action on recommendations
3. Adj ourn
2003 LOCAL BOARD OF APPEAL & EQUALIZATION
STAFF RECOMMENDATIONS
Oral Presentations Pin Number
2003 _Estimated Staff'
RecommendationMarketValue
2.
1. Francis & Barbara Otto 03-118-22-44-0045 $452,"/UU No Ltnange
2. Theodore Dorenkamp 29-118-22-43-0095 $263,200 No Change
and Pomv Ketema
1. Jeff & Kathleen Pepski 17-118-22-44-0030 623,800 600,000
2. Van & Vali Kardashian 35-118-22-21-0006 196,600 186,900
3. Philip Erickson & Donna 23-118-22-43-0053 382,900 No Change
Wain
4. Jacek Wojtowicz 16-118-22-11-0077 392,800 No Change
5. Todd Palmberg 22-118-22-14-0036 527,800 No Change
6. Sudhir & Sunita Singh 17-118-22-13-0119 517,100 503,500
7. Greg S. Hoglund 05-118-22-31-0003 297,400 No Change
8. Jeffrey Schi ull 03-118-22-43-0037 201,300 No Change
Written into the Minutes:
9. Vladimir & Irina 11-118-22-43-0082 262,000 240,800
Davydov
REPORT #1
2003 BOARD OF APPEAL & EQUALIZATION
STAFF REPORT AND RECOMMENDATION
PROPERTY OWNERS NAME: Francis & Barbara Otto
PROPERTY ADDRESS: 5475 Rosewood Lane North
PID #: 03-118-22-44-0045
LEGAL DESCRIPTION: Bass Lake Woods — Long Legal
PROPERTY TYPE: Single Family Residential
2003
MARKET VALUE
VALUE PRIOR TO
LOCAL BOARD
ASSESSOR'S
RECOMMENDATION
LAND MARKET VALUE 70,000
413,600 $452,700
STRUCTURE MARKET VALUE 382,700
TOTAL MARKET VALUE 452,700 No Change
ASSESSMENT HISTORY 2001 2002 2003
Total Market Value $404,100 419,200 $452,700
Limited Market Value $376,000 413,600 $452,700
j Improvement
OWNERS CONCERNS:
Mr. Otto addressed the Board of Review on April 15, 2003. He voiced his concerns
regarding his increase in property taxes. He did not address any concerns about the
estimated market value of his property.
Mr. Otto stated that the City's portion of his taxes would be increasing $90. He stated his
overall taxes have increased approximately 10%. He asked how new developments, such
as the Reserve Development, affect the City's tax base. Mr. Otto stated his taxes
increased approximately $1,500. He asked what the average tax rate is per household.
ADDITIONAL INFORMATION:
I contacted Fran Otto on 4/16/03 to schedule an inspection of his home. Fran stated he
was not concerned with the market value of his house, but instead with rising taxes in our
city.
At the Board of Review, City Manager Dwight Johnson stated he would be happy to meet
with Mr. Otto to provide information relating to his questions about property taxes. I
gave him Mr. Johnson's telephone number and Mayor Judy Johnson's voice mail number
to further discuss these issues.
I also mailed him a Minnesota Property Tax Refund booklet so he could look into the
special property tax refund" that is available. It is based on percentage of property tax
increase, not related to income.
RECONCILATION OF VALUE:
Mr. Otto stated he knew homes in his neighborhood are selling in the $400,000 range and
felt his value was probably correct. He stated I did not need to inspect and re-evaluate the
market value of his home. Market value will remain the same at
452,700.
Cindy Bowman, CMA
Appraiser
763) 509-5353 cbowman@ci.plymouth.mn.us
2003 LOCAL BOARD OF APPEAL & EQUALIZATION
CITY OF PLYMOUTH
April 15, 2003
Address:
J (
90
Property Identification:
Owner Name: Purchase Price:
Address: %SPk46 Ssi KUdcID 4 v Purchase Date: j
City/Zip: 4 7` 2003 Estimated
Market Value:L}/T4
Daytime Phone:
Any appeal should be based on evidence that the 2003 Estimated Market Value exceeds the true
market value of the property. Please list the reasons why you believe the property could not sell,
for the value under appeal.
Please check if you wish to summarize your appeal to the Board at the podium.
Report #2
2003 BOARD OF APPEAL & EQUALIZATION
STAFF REPORT AND RECOMMENDATION
PROPERTY OWNERS NAME: Theodore Dorenkamp and Pomy Ketema
PROPERTY ADDRESS: 1300 Dunkirk Lane North
PID #: 29-118-22-43-0095
LEGAL DESCRIPTION: Lot 11 Block 1 Gleason Lake
PROPERTY TYPE: Residential
2003
MARKET VALUE
VALUE PRIOR TO
LOCAL BOARD
ASSESSOR'S
RECOMMENDATION
LAND MARKET VALUE 75,000
263,200
STRUCTURE MARKET VALUE 188,200
263,200
TOTAL MARKET VALUE 263,200 No Change
ASSESSMENT HISTORY 2001 2002 2003
Total Market Value $224,900 256,100 263,200
Limited Market Value $217,100 238,800 263,200
improvement 0 0 0
SUBJECT PROPERTY
Dimensions Sq Ft Diagram
Ground Fl. Area = 11110
Second Fl. Area = 924
Gross Bldg Area = 2,034
Porches[Decks
DECK 10 x 12 120
3 x 6 = 18
138
Garages
22 x 122 — 484
1
Subject Location Map
SALES COMPARISON ADJUSTMENT GRID
Subject Comparable #1 Comparable #2 Comparable #3
ADDRESS: 1300
Dunkirk
Lane North
1320 Black Oaks
Lane
1700 Peony Lane
North
2711 Black Oaks
Lane
PID# 29-118-22-
43-0095
29-118-22-43-0101 30-118-22-42-0047 20-118-22-43-0017
SALE DATE: 11/2002 4/2001 11/2001 4/2002
SALE PRICE:
TIME ADJUSTMENT:
ADJ.SALE PRICE:
280,000 312,000 280,000 280,000
24,960 22,400 11,200
336,960 302,400 291,200
ADJ.SALE/SQ FT: 143.45 147.44 140.61
TYPE OF BLDG: 2 Story split 5000 2 Story 2 Story
ABOVE GRADE
FINISH
2034 2072 1710 2040 2205 4140
QUALITY: Good Good Good Good
AGE: 1983 1980 1976 8400 1973 14560
CONDITION: Average Average Average Average
BEDROOMS: 3 4 5000 4 5000 4 5000
OF BATHS 3 3 3 4
FIN. BSMT. AREA: 0 490 4900 500 5000 818 8180
WALKOUT: Yes No 4000 No 4000 No 4000
FIREPLACES: 1 1 1 2 2500
GARAGE: TYPE
AREA SQ FT:
2 Car Att 2 Car
TU
3 Car
Att
10000 2 Car
Att
DECK: Yes No 3000 Yes No 3000
PORCHES: No SP 10000 No No
LOT DESCRIPTION: Pond Average Average Average
LOCATION: Average Average Average Average
NET ADJUSTMENT: 9610) 7600) 1740
ADJ SALE PRICE: 327,350 294,800 292,940
ADJ SALE /SQ FT: 157.99 144.51 132.85
284,760 @140 Per Sq Ft
COMPARABLE SALES
COMPARABLE #1
1320 Black Oaks Lane
COMPARABLE #2
1700 Peony Lane North
COMPARABLE #3
2711 Black Oaks Lane
VALUE CONCLUSION
LOCATION: The subject is located south of County Road 6 off of Dunkirk Lane in
an average neighborhood. Homes in close proximity are homogeneous in age and quality.
SITE: The lot is heavily treed with a pond at the rear. It is irregular in shape.
IMPROVEMENTS and FEATURES: The site is improved with a 2 Story home
constructed in 1983.
OWNERS CONCERNS:
The home was recently purchased in November 2002 for $280,000. He feels that 11is
home is valued significantly higher than his neighbors and feels that he is paying more
than his fair share.
COMPARABLE #1
Comparable I is a split level located in the same neighborhood. It was built in 1980 and
is basically the same quality construction as the subject. The site is irregular in shape and
is located on a cul-de-sac. It is the weakest of the comparables because the style of the
house is different
COMPARABLE #2
Comparable 2 is a two story located on a corner lot of average size. The home was built
in 1976 and is of the same quality as the subject. It is the most comparable to the subject
for it has the fewest adjustments.
COMPARABLE #3
Comparable 3 is a two story home built in 1973 and is of similar quality. It is located on
a standard size lot which is heavily treed.
sw1
Comparable Sales Map p
i
I
i N
l
Cityty oT This represents a compilation of information and W+E
data from city, county, state and other sources that has
s not been field verified. Information should be field S
Plymouth, M N verified and compared with odgianl source documents.
RECONCILATION OF VALUE:
On April 17 Mr. Dorenkamp was contacted by phone. He stated that although his recent
sale price is higher than the 2003 Estimated Market Value he objects to the large increase
between assessment years. It was explained that the increase between 2002 and 2003 was
less than 4%. He had been looking at the increase between the 2001 and 2002 assessment
dates. He also had been comparing the taxable market value for taxes payable in 2003
and seeing discrepancies between who was paying on what value. It was explained that
the Limited Market value affects the taxable amount. When comparing the Estimated
Market Value for 2003 with the surrounding homes in his neighborhood they are all in a
range from $216,400 to $292,000 with his being in the middle at $263,200. I informed
Mr. Dorenkamp that to make any type of adjustment that an inspection of the home
would be required. He stated that they would think about how to proceed. He was told of
the time constraint in getting a report back to the Local Board. The law now states that
the local authority can not make an individual market adjustment without the assessor
being permitted to view the property. It is the opinion of this appraiser that the 2003
market value remain unchanged at:
263,200
Jan Olsson RES
Senior Appraiser
763-509-5355
jolsson@ci.plymouth.mn.us
i
2003 LOCAL BOARD OF APPEAL & EQUALIZATION
CITY OF PLYMOUTH
April 15, 2003
Address: 1300 "„1 LA) , Al. ,QLYHouYlfi
Property Identification: c,.,9'1 -- /! I—, `i3 (90 9J`
Owner Name: IJIUD LC bQXQ'JICAµr 90 -
A Y K 15r7 tA Address:
1300 Du,)u21L (.n1, Al Purchase
Price: f22'D, V00 Purchase
Date: H/yu l 2o0 D City/
Zip: e L yAaA-r , t -W Sof q 7 2003 Estimated Market
Value: T SGT(''' Daytime
Phone: bo) ti -7 & — a Ztf - Any
appeal should be based on evidence that the 2003 Estimated Market Value exceeds the true market
value of the property. Please list the reasons why you believe the property could not sell `x fnr
the value under anneal Please
check if you wish to summarize your appeal to the Board at the podium.
Minnesota Statutes 2002, 274.01 Paget of 3
Minnesota -statutes -20.02, Table -of Chapters
Table of contents for_Chapter 274
274.01 Board of appeal and equalization.
Subdivision 1. Ordinary board; meetings, deadlines,
grievances. (a) The town board of a town, or the council or
other governing body of a city, is the board of appeal and
equalization except (1) in cities whose charters provide for a
board of equalization or (2) in any city or town that has
transferred its local board of review power and duties to the
county board as provided in subdivision 3. The county assessor
shall fix a day and time when the board or the board of
equalization shall meet in the assessment districts of the
county. Notwithstanding any law or city charter to the
contrary, a city board of equalization shall be referred to as a
board of appeal and equalization. On or before February 15 of
each year the assessor shall give written notice of the time to
the city or town clerk. Notwithstanding the provisions of any
charter to the contrary, the meetings must be held between April
1 and May 31 each year. The clerk shall give published and
posted notice of the meeting at least ten days before the date
of the meeting.
The board shall meet at the office 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 errors 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 of
review 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 been properly placed on the list and
properly valued by the assessor. If real or 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 property, and each article, parcel, or 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 the board to do so. On application of any person feeling
aggrieved, the board shall review the assessment or
classification, or both, and correct it as appears just. The
board may not make an individual market value adjustment 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.
http://www. revisor. leg.state.mn.us/stats/274/0l .htm1 2/13/2003
Written Report #1
2003 BOARD OF APPEAL & EQUALIZATION
STAFF REPORT AND RECOMMENDATION
PROPERTY OWNERS NAME: Jeff & Kathleen Pepski
PROPERTY ADDRESS: 3630 Yuma Lane North
PID #: 17-118-22-44-0030
LEGAL DESCRIPTION: Sugar Hills, 2°a Addition
PROPERTY TYPE: Single Family Residential
2003
MARKET VALUE
VALUE PRIOR TO
LOCAL BOARD
ASSESSOR'S
RECOMMENDATION
LAND MARKET VALUE 103,000 103,000
STRUCTURE MARKET VALUE 520,800 497,000
TOTAL MARKET VALUE 623,800 600,000
ASSESSMENT HISTORY 2001 2002 2003
Total Market Value $539,400 $566,200 $623,800
Limited Market Value ---------- ---------- ----------
Improvement ------------------------------
SUBJECT PROPERTY
3630 Yuma Lane North/Sugar Hills
17-44-0030)
VALUE CONCLUSION
LOCATION: The subject is located on Yuma Lane North
in Sugar Hills, an above average neighborhood.
SITE: The site is irregular in shape with trees in the rear.
IMPROVEMENTS and FEATURES: The home is a two story,
single family residence built in 1994.
OWNERS CONCERNS:
After reviewing Mr. Pepski's appraisal and inspecting his property,
I agreed to reduce his value from $623,800 to the appraisal value of
600,000. We both agreed that this was a proper value for his property.
A second issue was then brought up by Mr. Pepski. He found that two of
the comparables used in his appraisal have a 2003 estimated market value
that is lower than the recent sale price. He wants his reduced value of
600,000 given the same "discount" as those two properties.
RECONCILATION OF VALUE:
While the two estimated market values from the comparables
in his appraisal are under the sale price, there are other sales
in the neighborhood that are also at or above the sales price.
We do not "discount" certain values after a property sells, rather
we look at all the sales in a neighborhood to come up with an
estimated market value. Some sold homes will have a market
value under the sale price, some at the sale price and some over
the sale price. We are looking at the averages in mass appraisal
to calculate an estimated market value.
With this in mind, I recommend that the 2003 estimated market
value remain at the previously agreed to reduced value of
600,000.
v J
Mike Henderson, CMA
Appraiser, City of Plymouth
PEPSKI
3630 YUMA LANE N.
PLYMOUTH, MN 55446
April 7, 2003
City of Plymouth
Board of Appeal and Equalization
Plymouth City Hall
Plymouth, MN 55447
RE: 3630 Yuma Lane N.
PIN 17-118-22 44 0030
Dear Board Members:
Upon receiving my 2003 Notice of Valuation and Classification for the above referenced
property, I contacted the City Assessor's department to determine how they had arrived at the
Taxable Market Value of $ 623,800. After speaking with Mike Henderson, he mailed me a copy
of the City of Plymouth Sales Report for Sugar Hills, 2nd Addition. (See attached Exhibit 1.)
This sales report is for the period October 1, 2001 through September 30, 2003.
After reviewing the data on the report, I contacted Mike Henderson a second time to obtain both
clarification and additional information. He stated that the property grade on our residence is
Grade 2. The report listed three Grade 2 properties sold during this time period of which two
were similar in foundation size to our residence (1,932). These two properties and their
respective 2003 Valuations follow:
Address Foundation Size 2003 Valuation
16000 37th Ave. N. 1,940 $ 572,700
3690 Yuma Lane N. 1,930 $ 573,300
Initially, my issue was the determining factor of my 2003 valuation of $ 623,800. An appraisal
value as of November 11, 2002 was at $ 600,000 and both of the sales reported above were used
as comparables. (See attached Exhibit 2.)
After comparison of the 2003 valuations for these other properties, I asked to meet with him and
scheduled an inspection of our residence on April 1. An additional issue has now arisen, this
being the valuation discount of the two property sale amounts of about 7.7%. (See attached
Exhibit 3.) Mike Henderson inspected our residence on April 1 as scheduled at which time I
provided him with copies of Exhibits 2 and 3. He indicated that he would consider my arguments
and contact me later in the week with any new findings.
Mike Henderson contacted me on April 4 and discussed his findings with me. After reviewing
the November 11, 2002 appraisal, he agreed to reduce my 2003 Valuation to the appraisal
amount of $ 600,000. We are in agreement that this reflects the value of our residence. It does
not however address the second issue, the appropriate discount in arriving at Taxable Market
Value.
As reflected in Exhibit 3, the 2003 valuation as a percent of the 2002 sales price for the two
comparable properties was 92.15% and 92.48 % respectively — an average discount of about
7.7%. When the City's Assessor placed these 2003 Valuation amounts on these two properties
sold during 2002, they did it with full knowledge of the sales price of each property thus knowing
they were applying a discount to these properties. My position is that this same discount should
apply to my property value of $ 600,000.
Sincerely,
Je A. Pepski
cc: Mike Henderson
From Sale Date >= 10/0 1/2001 To Sale Date <= 09/30/2002 Neiehborhood = 1716
Assmnt. Property City of Plymouth Sales Report
Year Instrument Type Qualification Vacant Sale Date Price Neighborhood
17-118-22-44-0012 368'
Style: 20 Grade: 3
2002 HS R u
O&O TODD HANSON & NANCY PACIOTTI
2002 CV R a
OWNER -TODD HANSON & NANCY PACIOTTI
i 9/27/2002 470,000 Sugar Hills -1716
i 9/27/2002 470,000 Sugar Hills -1716
17-1 i8-2244-0022 16015 36TH PL N,
Style: 30 Grade: 3 Year Built: 1996'' Foundation Size: 2067
2002 HS R u i 3/29/2002 526,000 Sugar Hills -1716
0 & O KHURSHEED A & BADAR R SIDDIQUI
2002 CV R n i 3/29/2002 526,000 Sugar Hills -1716
OWNER: KHURSHEED & BADAR SIDDIQUI
1.7-118-22-44-0038 3690 YUMA LN N
Style: 30 Grade: 2 Year Built: 1999 Foundation Size: 1930
2002 HS R u t 5/20/2002 619,950 Sugar Hills -1716
O & O EDWARD & MARY ERICKSON
2002 CV R n i 5/20/2002 619,950 Sugar Hills -1716
OWNER = EDWARD V & MARY M ERICKSON
17-118-22-44-0'044 16025 37TH AVE N- .
Style: 30 Grade: 3 Year Built: 1994 Foundation Size: 1803
2002 HS R u i 8/28/2002 410,000 Sugar Hills -1716
O&O THOMAS & BETH EDWARDS
THE EDWARDS JOINT REVOCABLE TRUST OF 1999
2002 CV R a i 8/28/2002 410,000 Sugar Hills -1716
OWN - THOMAS R & BETH H EDWARDS
17-118-22-44-0056 3695 YUMA LN N'
Style: 30 Grade: 2 Year Built: 1994 Foundation Size: 1424
2002 CV R a 4/23/2002 515,000 Sugar Hills -1716
OWNERS - ALTON PORTER & MICHAEL MIRANDA
2002 HS R u i 4/23/2002 520,000 Sugar Hills -1716
O & 0 ALTON PORTER & MICHAEL MIRANDA
17-118-22-44-0058 16235 37TH AVE N
Style: 30 Grade: 3 Year Built: 1996 Foundation Size: 2214
2002 CV R a i 6/19/2002 552,000 Sugar Hills -1716
OWNER - THOMAS GARVIN
17-118-22-44-0067 16000 37TH AVEN
Style: 30 Grade: 2 Year Built: 1996 Foundation Size:1940
2002 HS R u i 9/13/2002 621,500 Sugar Hills -1716
0&0 J CRAIG & BRIDGET MACBEAN
2002 CV R a i 9/13/2002 621,500 Sugar Hills -1716
OWN -J CRAIG & BRIDGET N MACBEAN
Total Sales Count: 13
n:\apps\govern\rerports\ma—sales.rpt
Note: This total may not be accurate if there are two or more subrecords per property.
Page: I of 1
J(14 113 IT- I
sumelvia - f
aesktop Underwriter Quantitative Analysis Appraisal Report File No.: 40691
eec organ ..*nRT hs niTFunFn FnR 115E BY THE LENDER/CLIENT FOR A MORTGAGE FINANCE TRANSACTION ONLY. I
Property Address 3630 Yuma Ln City Plymouth State MN zip Code 55446
Legal Description Lot 14 Block 1 Sugar Hills 2nd Addition county Hennepin
Asseaws Parcel No. 17 118 22 44 0030 Tax Year 2002 R.E.Taxes $ 6 970.74 S ecial Assessments $
Borrower Pe skj Current owner Same Occu ant: X Owner FITenant Vacant
Neighborhood or Project Name Plymouth-Suclar Hills Project T e PUD Condominium HOA$ Mo.
Sales Price $ Refi Date of Sale N/A Desa tion/S amount of loan charges/concessions to be aid b seller None known
P lits a iced X Fee Sim le Leasethold Map Reference Census Tract 266.05
Note: Race and the racial composition of the neigh rhood aro not appraisal factors.
ban RuralLocation
urbanYXSt
Property values Increasing X Stable Declining
balance Oversupply
Singie fanuly housin
PRICE AGE PRICE AG
Bust up X Over 75% Under 25% Demandlsupply Shortage X In 5(000) s) E(OOOy (Yrs)
Law
Growth rate e Skhw Marketingtime X Under 3 mos 3S mos. Over 6 mos 200 Low New
600 High 20 HighNeighborhoodboundariesThesubjectsneighborhoodboundariesareHwy55tothesouth, Plymouth
border to the west and norh and 1-494 to the east. Predominant Predominant
350 5
Dimensions 90.2WO1.08xl 44.8xl 56.09 Site area 20992Sq.Ft.+/- Shape Irregular
Specific zoning classification and description R -t Single family residential
Zoning compliance X Legal Legal nonconforming (Grandfathered use) 0 Illegal, attach description No zoning
Highest and best use of sub'ed property as improved or as per plans and speCifteliGDO X Present use Other use, attach description.
Utilities Public Other Public Other Of!-ellehagxovenrenta Type Public Private
Q Electricity X 200 amp Water X street Asphalt
Gas X Sandary sewer X Ailey None El -
Am there any apparent adverse site conditions easements an assessments. slide areas, etc . Yes X No It Yes attach description.
Source(s) used for physical charederistics o1 property: X Interior and exterior inspection F derior inspection from street Previous appraisal files
MLS sessment and taz records Prior in ectirm Pro a owner Other )ascribe):
No. of Stories Two T Det./Aft. Detached Exterior Waus Stucco/Lap Roof Surface As h. Sh. Manufactured HousingYes X No
Does the generally conform to the neighborhood in terms of , condition, and construct on mater els? X Yes No If No. attach descrition.
Are there any apparent physical deficiencies or conditions that would affect the soundness or structural integrity of the improvements or the livability of the property?
Yes X No If Yes, attach description.
Are there any apparent adverse environmental conditions (hazardous wastes, toxic substances, etc.) present in the improvements, on the site, or in the immediate vicinity of
the subject Yes X No If Yes attach description. See Attached Addendum.
I researched the subject market area for comparable listings and sales that are the most similar and proximate to the subject property.
My research revealed a total of 10 sales ranging in sales price from S 550,000 to $ 650,000.
My research revealed a total of 5 listings ranging in fist price from $ 5501000 to S 650,000.
The analysis of the comparable sales below re ads market reaction to sitinificcant variations between the sales and the subject property.
FEATURE SUBJECT SALE1 SALE SALE3
3630 Yuma Ln 16000 37th Ave 3690 Yuma Ln 4955 Weston Ln
Address Plymouth PI mouth Plymouth Plymouth
Proximity to Subject 1 block +/- 1 block +/- 112 mile +/-
Sales Price $ Refi $ 630,000 $ 619 950 $ 569 000
RioefGross Liv. Area S 0.00 ol S 178.520 $ 187.640 $ 194.260
Data g Ve, Sources MLS/DOM 7 MLSlDOM 24 MLS/DOM 32
VALUEAOXISTMEIM DESCRIPTION DESCRIPTION +OSJafrnsn.a DESCRIPTION-iMPA**-g DESCRIPTION
Sales or Financing Conv Conv Conv
Concessions 0 Points 0 Points 0 Pis
Date of SalsM a WA 9-13-2002 5-20-2002 8-26-2002
Location Suburban Suburban Suburban Suburban
Ste 20992 S .Ft. +/- 19691 sf +/- 13243 sf +/- 19260 sf +/-
view Residential/Wds Residential/Wds 1 ResidentiaVWds Residential/Open +10000
Design (Style) Two St/Gd Two St /Gd Two St /Gd Two St /Gd
Actual a (Yrs.)1994 1996 1999 -5,000 1997 5000
Condition Good Good Good Good
Above Grade Tastl ' Bdrna ' Banta ToW ' Bdmm ' e.hna Ta•I ' Bhma ' BMs Toil ' etrim ' BILa ,
9% 4 2.501 +5,000
Room Count 9: 4: 3.50 9: 4) 3.50 9 4 3.50,
3,529 Sq. Ft. +7,000 3.304 Sq. Ft; +16,000 2,929 Sq. A.' +31,000
pors Area 3,705 Sq. Ft.
Basement andFiiised Full -WO Full -WO -Bath 3,000 Full -LO -Bath Full -LO +3,000
Rooms Below Grade Unfinished 1453 sf fin. -29,060 1650 sf fin. -33,000 Unfinished
Garage/Carport 3 Car Garage 3 Car Garage 3 Car Garage 3 Car Gara e
2 F Ic's Deckin 2 F Ic's Deakin 1 F Ic Deckin +2,000 1 F Ic POr,Dk -12,000
ExtxtrasGoodExtrasGoodExtrasGoodrasLGoodE
Net Adj. tote * X - ' S 25,060 U - W- '$ 20,000 LXg + is 32,000
Adjusted Sales Price 6.2% 9.0% 11.6%
604,940 -3.2% $ 599,950 5.6% $ 601,000
of C able- -4.09/6 $
Date of Prior Sales N/A N/A WA N/A
NIA
Price of Prior Sales $ N/A $ N/A $ N/A $
or listing of the subject property and analysis of the prior sales of subject and comparables: The sublect andAnalysisofanycurrentagreementofsale, option,
com arables have not sold! urchased in the past year other than their current transactions.
Summary of sales comparison and value conclusion: Selected comparables are considered to be ood indicators of the subjects marketablli .Salesarealllocatedwithinthesubjectsoverallmarketareaaresalestakinglacewithinthel2astear. The adjusted sales prices indicate a
consistent range of value. Adjustments note variances in age, square footage and varying amenity features based on an estimate of
contributory value. All three sales were considered in the estimate of value.
l ndition that the imThisappraisalismadeX "as -is",
orprovements
have been completed. or
subject N ncompletionperplansendspeciatioon the basis of a hypodhefiaco
subject to the following repairs. alterations or conditions: See Attached Addendum.
THE STREET OR AN INTERIM AND DaMORe+ISPECTrOr'1, 1F`'"" TEili6 VAWE gFJ=VJFJ1'
BASED ON AN EXTERIOR INSPECTION FROM
nF THE REAL PROPERTY THAT IS THE SUBJECT OF THIS REPORT TO BE $ 600,000 , AS OF 11 November 2002
Fannie Mae Form 2055 9.96
10CH. PAGE 1 OF 3
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CNlgrr Z ( IupZ)
unaerwnter gaanutatlVC Anoysis Apprallsall Keport File No.: 4U691
ERTIFICATION: The Appraiser certifies and agrees that:
1. 1 performed this appraisal by (1) personally inspecting from the street the subject property and neighborhood and each of the
comparable sales (unless I have otherwise indicated in this report that I also inspected the interior of the subject property); (2) collecting,
confirming, and analyzing data from reliable public and/or private sources; and (3) reporting the results of my inspection and analysis
in this summary appraisal report. I further certify that I have adequate information about the physical characteristics of the subject
property and the comparable sales to develop this appraisal.
2. 1 have researched and analyzed the comparable sales and offerings/listings in the subject market area and have reported the
comparable sales in this report that are the best available for the subject property. I further certify that adequate comparable market
data exists in the general market area to develop a reliable sales comparison analysis for the subject property.
3. 1 have taken into consideration the factors that have an impact on value in my development of the estimate of market value in the
appraisal report. I further certify that I have noted any apparent or known adverse conditions in the subject improvements, on the subject
site, or on any site within the Immediate vicinity of the subject property of which I am aware, have considered these adverse conditions
in my analysis of the property value to the extent that I had market evidence to support them, and have commented about the effect
of the adverse conditions on the marketability of the subject property. I have not knowingly withheld any significant information from
the appraisal report and I believe, to the best of my knowledge, that all statements and information in the appraisal report are true and
correct.
4. 1 stated in the appraisal report only my own personal, unbiased, and professional analysis, opinions, and conclusions, which are
subject only to the contingent and limiting conditions specified in this form.
5. 1 have no present or prospective interest in the property that is the subject of this report, and I have no present or prospective personal
interest or bias with respect to the participants in the transaction. I did not base, either partially or completely, my analysis and/or the
estimate of market value in the appraisal report on the race, color, religion, sex, age, marital status, handicap, familial status, or national
origin of either the prospective owners or occupants of the subject property or of the present owners or occupants of the properties
in the vicinity of the subject property or on any other basis prohibited by law.
6. 1 have no present or contemplated future interest in the subject property, and neither my current or future employment nor my
compensation for performing this appraisal is contingent on the appraised value of the property.
7. 1 was not required to report a predetermined value or direction in value that favors the cause of the client or any related party, the
amount of the value estimate, the attainment of a specific result, or the occurrence of a subsequent event in order to receive my
compensation and/or employment for performing the appraisal. I did not base the appraisal report on a requested minimum valuation,
a specific valuation, or the need to, approve a specific mortgage loan.
8. 1 estimated the market value of the real property that is the subject of this report based on the sales comparison approach to value.
I further certify that I considered the cost and income approaches to value, but, through mutual agreement with the client, did not
develop them, unless I have noted otherwise in this report.
9. 1 performed this appraisal as a limited appraisal, subject to the Departure Provision of the Uniform Standards of Professional
Appraisal Practice that were adopted and promulgated by the Appraisal Standards Board of The Appraisal Foundation and that were
in the place as of the effective date of the appraisal (unless I have otherwise indicated in this report that the appraisal is a complete
appraisal, in which case, the Departure Provision does not apply).
10. 1 acknowledge that an estimate of a reasonable time for exposure in the open market is a condition in the definition of market value.
The exposure time associated with the estimate of market value for the subject property is consistent with the marketing time noted
in the Neighborhood section of this report. The marketing period concluded for the subject property at the estimated market value is
also consistent with the marketing time noted in the Neighborhood section.
11. 1 personally prepared all conclusions and opinions about the real estate that were set forth in the appraisal report. I further certify
that no one provided significant professional assistance to me in the development of this appraisal.
SUPERVISORYAPPRAISER'SCERTIFICATION: If a supervisory appraiser signed the appraisal report, he or she certified and agrees
that; I directly supervise the appraiser who prepared the appraisal report, have examined the appraisal report for compliance with the
Uniform Standards of Professional Appraisal Practice, agree with the statements and conclusions of the appraiser, agree to be bound
by the appraiser's certifications numbered 5 through 7 above, and am taking full responsibility for the appraisal and the appraisal report.
APPRAISER:
Signature:
Name: Gredrry R. Anderson
Company Name: Appraisal Concepts, Inc.
Company Address: 2565 Hemline Ave N. Suite B.
Roseville, MN 55113
Date of ReportlSignature:11 November 2002
State Certification A
or State License: 4002735
State: MN
Expiration Date of Certification or License: 8-31-2003
Certified Residential Real Property Appr.
ADDRESS OF PROPERTY APPRAISED:
3630 Yuma Ln
Plymouth, MN 55446
APPRAISED VALUE OF THE SUBJECT PROPERTY E 600,000
EFFECTIVE DATE OF APPRAISAL/INSPECTION 11/11/2002
LENDER/CLIENT:
Name:
Company Name: Marketplace Home Mortgage
Company Address: 3600 Minnesota Dr. #150 Edina, MN 55435
SUPERVISORY APPRAISER (ONLY IF REQUIRED):
Signature:
Name: _
Company Name: _
Company Address:
Date of Report/Signature:
State Certification M
or State License 1f:
State:
Expiration Date of Certification or License:
SUPERVISORY APPRAISER:
SUBJECT PROPERTY
Did not inspect subject property
Did inspect exterior of subject property from street
Did inspect interior and exterior of subject property
COMPARABLE SALES
Did not inspect exterior of comparable sales from street
Did inspect exterior of comparable sales from street
10CH. PAGE 3 OF 3
mu trm w, woacdmNe ILI Oe'A4n+ +q 1B0Pr 21
Appraisal Concepts Inc.
ExpI S t r -Z— ( z 0= Z)
NAME ADDRESS
PEPSKI 3630 YUMA LANE N.
MAC BEAN 16000 37TH AVE N.
ERICKSON 3690 YUMA LANE N.
2003 VALUATION / 2002
NAME SALES PRICE
PEPSKI
MAC BEAN 92.15%
ERICKSON 92.48%
LAST FOUNDATION
INSPECTION SIZE
AUG 2001 1,932
FALL 2002 1,940
SEPT 1999 1,930
57,600
APPRAISED
09/13/02
VALUE
52,900
600,000
2003 VALUATION COMPARISONS
4/1/03
NOTES: 1. 2002 SALES PRICE OBTAINED FROM CITY OF PLYMOUTH
2. MAC BEAN SALES PRICE FROM APPRAISAL COMP WAS 630,000
600,000 X 92.3%) 553,800
VALUATION
SALE DATE 2002 SALES PRICE 2003 VALUATION 2002 VALUATION INCREASE INCREASE
N/A N/A 623,800 566,200 57,600 10.17%
09/13/02 621,500 572,700 519,800 52,900 10.18%
05/20/02 619,950 573,300 488,100 85,200 17.46%
NOTES: 1. 2002 SALES PRICE OBTAINED FROM CITY OF PLYMOUTH
2. MAC BEAN SALES PRICE FROM APPRAISAL COMP WAS 630,000
600,000 X 92.3%) 553,800
Written Report #2
2003 BOARD OF APPEAL & EQUALIZATION
STAFF REPORT AND RECOMMENDATION
PROPERTY OWNERS NAME: Van and Vali Kardashian
PROPERTY ADDRESS: 1015 Ives Lane North
PID #: 35-118-22-21-0006
LEGAL DESCRIPTION: Lot 4 Block 2 Beacon Heights 1 st
PROPERTY TYPE: Residential Single Family
2003
MARKET VALUE
VALUE PRIOR TO
LOCAL BOARD
ASSESSOR'S
RECOMMENDATION
LAND MARKET VALUE 77,000 77,000
STRUCTURE MARKET VALUE 119,600 109,900
TOTAL MARKET VALUE 196,600 186,900
ASSESSMENT HISTORY 2001 2002 2003
Total Market Value $160,700 $180,900 $196,600
Limited Market Value $149,800 $164,800 $184,500
Improvement
SUBJECT PROPERTY
Subject Location Map
OWNERS CONCERNS:
The Kardashians say in their letter to The Local Board of Appeal and Equalization that
the property valuation and taxes have been rising over the last few years regardless of the
age of the property. The 1963 house is all original with undersized bedrooms and kitchen.
Because the house would need many repairs and updating, any person considering
buying the house might want to tear it down and build a new home on the site. The house
is on a cul-de-sac off Highway 55 with no other residential streets to form a
neighborhood. The Kardashians feel that the last few years valuations were not justified,
based on the age and condition of the house.
RECONCILATION OF VALUE:
The property was reviewed on April 16, 2003. The property value has risen over the last
few years based the sales of similar age and size homes in their neighborhood. The house
was built in 1963 and appears to be completely original. The home does need repairs,
such as window replacement and the garage floor. The kitchen is very small and the
basement stairway has a three sided landing at the base that is very close to the rear
basement wall. Although the home backs to a pond, the rear of the property is very steep.
With no real backyard, it would be much harder to sell. The market for this property
would usually be a family because it is a three bedroom house, but because of the steep
rear yard, it would probably limit the salability. I called Mr. Kardashian on April 17th and
he agreed with the new recommendation of $186,900. Based on the observed condition
and current sales of similar homes in the area, the recommended 2003 Estimated Market
Value is:
186,900
eCtj 1 41 W
Paul Kingsbury, CMA
Appraiser, City of Plymouth
763 509-5357
pkingsbu@ci.plymouth.mn.us
SALES COMPARISON ADJUSTMENT GRID
Subject Comparable #1 Comparable #2 Comparable #
ADDRESS: 1015
Ives Lane N
2820
Ranier Lane N
16215
14'h Ave N
3815
Quaker Lane N
PID# 35-118-22-
21-0006
19-118-22-42-0047 29-118-22-44-0057 13-118-22-42-0049
SALE DATE: 11/01 10/01 1/02
SALE PRICE:
TIME ADJUSTMENT:
ADJ.SALE PRICE:
TYPE OF BLDG:
184,500 185,000 189,400
13,800 14,800 11,400
One story
198,300
One
story
199,800
One
story
200,800
One
story
ABOVE GRADE
FINISH
1248 s.f. 1239
s.f.
1294 s.f 2,000) 1150s.f 4,400
AGE: 1963 1972 5,000 1963 0 1967 0
CONDITION: Below avg Avg/AA 10,000 Avg/AA 10,000 Avg/AA 10,000
OF BATHS 2+1/2 2 1,500 2 1,500 2 1,500
FIN. BSMT. AREA: 700 s.f. 600 s.f 1,800 1,000 s.f. 5,400) 700 s.f. 0
WALKOUT: yes yes 0 no 3,000 no 3,000
FIREPLACES: 2 1 3,000 2 0 1 3,000
GARAGE: TYPE
AREA SQ FT:
2 car attach 2 car
attach
0 2 car
attach
0 2 car
attach
0
DECK: yes yes 0 yes 0 no 0
PORCHES: Screen
porch
no 2,000 no 2,000 Screen
porch
0
LOT DESCRIPTION: Large lot
with pond
Smaller
lot
10,000) Smaller
lot
10,000) Smaller
lot
10,000)
LOCATION: No
pond
No pond No pond
NET ADJUSTMENT: 13,700 ri $20,900 5,100
ADJ SALE PRICE: 184,600 1 $178,900 195,700
COMPARABLE #1
rx >: ss
yy-
COMPARABLE #3
f
E
f Comparable Sales Mapp
N
City of This represents a compilation of information and W E
data from city, county, state and other sources that has
not been field d. Information should be field s
Plymouth, M N verified and compared with origianl source documents.
Local Board of Appeal and Equalization
City of Plymouth
Plymouth, Minnesota
Dear Sir/Madam,
Van Kardashian
1015 Ives Lane
Plymouth, MN 55441
April 14, 2003
Our property valuation and taxes have been rising by leaps and bounds over the last few
years, regardless of the age of the house and the devaluation it incurred.
Upkeep of the house has been very minimal, not because we do not care but because we
could not afford it. We raised three children here, who went to college. Now we are both
seniors in our mid -70's with limited income.
This is a 3 -bedroom 40 -year old rambler. These are less than average size bedrooms with
minimum closet space. The master bedroom is undersized with one small badly located
closet.
The bathrooms also date back to 1963 and would not meet current standards and needs.
The kitchen is extremely small, about 6 ft by 12 ft wall to wall with no adjacent family
room. The flooring is still the original linoleum.
The carpeting throughout the main floor dates back to 1963. The wear and tear
throughout the years is noticeable.
The doors and windows also date back to 1963 and are definitely poorly insulated. The
entire house is energy inefficient.
The fireplace chimney needs a tuck point job.
The concrete floor of the garage is badly pitted, cracked and unevenly settled. When it
rains, it gets flooded. A new flooring is needed badly.
The back of the house has a steep drop and no backyard for family entertainment. At the
edge of the drop proliferate aquatic weeds in a pond; such as purple loosestrife which
serve as breeding ground for mosquitoes.
Any person considering buying the house might want to tear it down and build a new
home on the site, such as was done next door. The other alternative would be to account
for major remodelling and expansion to make it comfortably liveable for a family.
The house is on a cul-de-sac with 5 homes off of Highway 55. There are no adjacent
residential streets and therefore no community of neighbors for a family. In addition,
Honeywell SSEC (industrial) overlooks and abuts this cul-de-sac.
We would appreciate very much your considering the age and condition of the house in
estimating the valuation of the property to reflect its true worth. We feel that the last few
years the increases in valuation were not justified. However, we did not appeal the value
as we were involved with family concerns. In addition, we did not realise that there
would be continuous automatic large hikes.
Thank you for considering this matter.
Sincerely,
Van and Vali Kardashian
Written Report #3
2003 BOARD OF APPEAL & EQUALIZATION
STAFF REPORT AND RECOMMENDATION
PROPERTY OWNERS NAME: Phillip Erickson & Donna Wain
PROPERTY ADDRESS: 1172527 th Avenue North
PID #: 23-118-22-43-0053
LEGAL DESCRIPTION: Chippewa Trails 2°a Addition
PROPERTY TYPE: Single Family Residential
2003
MARKET VALUE
VALUE PRIOR TO
LOCAL BOARD
ASSESSOR'S
RECOMMENDATION
LAND MARKET VALUE 98,000
304,400 $340,900
STRUCTURE MARKET VALUE 284,900
TOTAL MARKET VALUE 382,900 No Change
ASSESSMENT HISTORY 2001 2002 2003
Total Market Value $287,300 321,200 $382,900
Limited Market Value $276,700 304,400 $340,900
Improvement ----------
SUBJECT PROPERTY
1172527Ih Avenue North/Chippewa Hills
23-43-0053)
Sub.iect Location Map
ADDRESS: 11725 27th 11905 26th 2530 E. Medicine Lake 2745 Hemlock
PID# 23-43-53 23-34-0072 25-12-0042 23-34-100
SALE DATE: 05/15/2002 11/15/2001 11/01/2002
SALE PRICE:
TIME
ADJ.SALE
PRICE:
TYPE OF
BLDG:
380,000 340,000 490,000
15,200 27,200
Two Story
395,200 367,200 490,000
Two Story Split Split
ABOVE GRADE
FINISH
2468 2488 2162 2573 7,400
UALITY; Avg Avg Avg Avg
AGE: 1979 1977 1987 1986 17,200
CONDITION: Avg Avg Avg Avg
BEDROOMS: 3 3 3 4 3,000
OF BATHS 2.5 2.5 2.5 3.5 4,000
FIN. BSMT.
AREA:
0 0 921 16,600 1,000 18,000
WALKOUT: Yes Yes Yes No 4,000
FIREPLACES: 2 2 0 6,000 2
GARAGE: TYPE 2 stall att. 2 stall att. 2 stall art. 2 stall att.
DECK: Yes Yes Yes Yes
PORCHES: SP No 4,000 No 4,000 GP 4,000
LOT SIZE SQ
FT:
Avg Avg Avg Avg
LOT
DESCRIPTION:
LOCATION: Chippewa Trails Chippewa
Trails
Medicine
Lake Park
Chippewa
Trails
POOL• No No No No
NET
ADJUSTMENT:
4,000 100 49,600
ADJ SALE
PRICE:
399,200 367,300 440,400
Comp 3>.;l
Subject
Comp 2
rib Comparable Sales Map p
N
City of This represents a compilation of information and W E
data from city, county, state and other sources that has
not been field verified. Information should be field sPlymouth, M N verified and compared with origianl source documents.
COMPARABLE #1
1190526Ih Avenue North/Chippewa Trails
23-34-0072)
COMPARABLE #2
2530 East Medicine Lake Blvd/Medicine Lake Park
25-12-0042)
Ali,
t
4 f
1
AIM
INC
Cii
VALUE CONCLUSION
LOCATION: The property is in Chippewa Hills on quiet
27th Avenue North, east of Medicine Lake Drive, two homes
away from Medicine Lake.
SITE: The site is rectangular, fronting
27th Avenue North.
The back of the site is heavily wooded and elevated. When
the leaves are off of the trees it affords a good view of
Medicine Lake.
IMPROVEMENTS and FEATURES: The home is a two story,
single family residence built in 1979.
OWNERS CONCERNS: The owners did not understand how
the property's value could keep increasing when the economy
is in a downward state. They did not think that we had any data
to back up our estimated market value of their property.
RECONCILATION OF VALUE: I inspected the property, studied
the comparables and went over all the information with Mr. Erickson.
I showed him how we arrived at his value, the recent sales in Chippewa
Trails and recent sales within the city of Plymouth. I believe that the
2003 estimated market value should remain unchanged at:
382,900.
4 WJ2")
Mike Henderson, CMA
Appraiser, City of Plymouth
11725 27th Avenue North
Plymouth, MN
55441
April 3, 2003
Local Board of Appeal and Equalization
City Hall
City of Plymouth
Dear Local Board of Appeal and Equalization,
APR 1 S 2003
Reference 23 118 22 43 0053, a non-lakeshore residential property.
Estimated Market Value Taxable Market Value
Year Valuation $ Change % Change Valuation $ Chane Change
2000 235,000 235,000
2001 261,300 $ 26,300 11.2% 255,000 $ 20,000 8.5%
2002 287,300 $ 26,000 10.0% 276,700 $ 21,700 8.5%
2003 321,200 $ 33,9001 11.8% 304,400 $ 27,7001 9.1%
2004 382,900,$ 61,7001 19.2% 340,900 $ 36,5001 12.0%
TOTAL 147,9001 63.0% 105,9001 45.0%
There are no data to support such changes in values. Not for
Plymouth much less Chippewa Trails. Inflation is 2% or less. Interest
rates for savings are 1 % or less. We recommend no change for the
current valuation, i.e., remain at #21,200 and $304,400 respectively.
llip Erickson, Donn in
o
I
WRITTEN REPORT #4
2003 BOARD OF APPEAL & EQUALIZATION
STAFF REPORT AND RECOMMENDATION
PROPERTY OWNERS NAME: Jacek Wojtowicz
PROPERTY ADDRESS: 1451043 rd Avenue North
PID 4: 16-118-22-11-0077
LEGAL DESCRIPTION: Lot 5 Block 9, Kingsview Heights 2nd
PROPERTY TYPE: Single Family Residential
2003 VALUE PRIOR TO
MARKET VALUE LOCAL BOARD
ASSESSOR'S
RECOMMENDATION
LAND MARKET VALUE $ 90,000
2003
STRUCTURE MARKET VALUE $302,800
321,200
TOTAL MARKET VALUE $392,800 No Change
ASSESSMENT HISTORY 2001 2002 2003
Total Market Value 321,200 367,600 392,800
Limited Market Value 307,400 338,100 378,600
Improvement 0 0 0
SUBJECT PROPERTY
Square Feet
Calculations
Ground Fl. Area = 1385
Second Fl. Area = 967
Gross BldgArea = 2352
Porches/Decks
3 Season 1 12 1 X 1 12 = 14
Garaves
Three Car 30 x 22.5 675
Attached 1 1
Diagram
OARAOE 14
10
2 ?opl
10
4
Subject Location Map
SALES COMPARISON ADJUSTMENT GRID
Subject Comparable #1 Comparable #2 Comparable #3
ADDRESS: 14410 43RD
Ave
4215 Juneau La. 1448042 nAve. 1450544 1Ave
PID# 16-118-22-
11-0077
16-118-22-13-0004 16-118-22-14-0045 16-118-22-11-0051
SALE DATE: 8/29/02 6/28/02 1/17/03
SALE PRICE:
TIME ADJUSTMENT:
ADJ.SALE PRICE:
365,000 429,900 400,000
2.68% 4%
374,800 447,100 400,000
ADJ.SALE/SQ FT: 156/S .Ft. 180/S .Ft. 152/S .Ft.
TYPE OF BLDG: 2 Story 2 Story 2 Story 2 Story
ABOVE GRADE
FINISH
2352 2403 2487 13500 2630 27800
QUALITY; Above Avg Avg 5,000 A.Av . A.Av .
AGE: 1987 1986 1993 12900 1994 14000
BEDROOMS: 3 4 3000 4 3000 4 3000
OF BATHS 3 1/2 21/2 4000 21/2 4000 21/2 4000
FIN. BSMT. AREA: 900 sq -ft. 500 s .ft. 12400 960 s .ft. No 20700
WALKOUT: Below Avg Avg 1000 B.Av No 3000
FIREPLACES: 1 1 1 1
GARAGE: TYPE
AREA SQ FT:
3 car att. 3 car att. 3 car att. 2 car att 12000
DECK: No 108 s .ft. 1200 356 s .ft. 4100 No
PORCHES: 3 season Screen 5200 No 7900 No 7900
LOCATION: Kingsview
Heights
Kingsview
Heights
Kingsview
Heights
Kingsview
Heights
NET ADJUSTMENT: 21,400 21,600 2,800
ADJ SALE PRICE: 396,200 425,500 402,800
ADJ SALE /SQ FT:
Indicated value as of Jan 2, 2003 402,800
COMPARABLE #1
COMPARABLE #2
Lt 04
LLLi
1
46TH AVE N
100 44TH AVE N
S
z
41 G)
rz
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43RD PL N
42ND PL N
z
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42ND AVE N
X
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Z
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39TH AVE N
46TH AVE N GLACIER LN N
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4sT l41
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45TH AVE N
44TH PL N
y 44TH AVE N
7p
2
2 D 2
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2 .
Y
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Zi r 2ND AVE N z
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3 Comp 1 z
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0
LU z
41 STAVE
z
AVE N
43Rp AVE N
O
r
n
41 ST AVE N m
1
z z
m z ROCKFORD RD
O
y 40TH AVE N 40TH PL N
rZ
419Q z Z
N41
4138TH PL N
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z
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39TH AVE N U
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r10 Comparable Sales Mapp
N
City of This represents a compilation of information and w E
data from city, county, state and other sources that has
not been field verified. Information should be field s
Plymouth, M N verified and compared with origianl source documents.
OWNERS CONCERNS:
Mr. Wojtowicz questioned his property's 12% increase in value. He wanted an
explanation of how we determine increases in property values.
ADDITIONAL INFORMATION:
An interior inspection was conducted April 17, 2003. At that time I addressed
Mr.Wojtowicz's concerns on the 12% increase of his value. I explained the laws on
limited market value and that his taxable increase was 12% due to statutory limits of a
12% maximum increase in his taxable value. I explained the estimated market value on
his property for assessment year 2003 increased 6.9%.
RECONCILATION OF VALUE:
The comparable sales I used in determining the value are all located in the same
neighborhood as the subject property. All properties are two stories. I feel the properties
are similar and have made adjustments to sale prices for the differences (see attached
sales comparison grid). The comparable properties indicate the subject property to have a
value range of $396,200 to $425,500.
Based on the interior inspection of this property and the comparable sales, it is
recommended the subject property's estimated market value remain unchanged.
392,800
Cindy Bowman, CMA
Appraiser
763) 509-5353 cbowman@ci.plymouth.mn.us
2003 LOCAL BOARD OF APPEAL & EQUALIZATION
CITY OF PLYMOUTH
April 15, 2003
Address: (Q S(O 45Ro -Ue , (4
Property Identification: t (— R9 _ 22 (( 1007
Owner Name: Purchase Price:
Address:
City/Zip: rk `e KOcJTf+ , VAN 5544
Daytime Phone: %(p3— SS(— o9 2 -,-
Purchase Date: ( 1 9
2003 Estimated
Market Value: 578, 60 d
Any appeal should be based on evidence that the 2003 Estimated Market Value exceeds the true
market value of the property. Please list the reasons why you believe the property could not sell
for the value under appeal. _
Please check if you wish to summarize your appeal to the Board at the podium.
Written Report # 5
2003 BOARD OF APPEAL & EQUALIZATION
STAFF REPORT AND RECOMMENDATION
PROPERTY OWNERS NAME: Todd Palmberg
PROPERTY ADDRESS: 1294032 nd Avenue North
PID #: 22-118-22-14-0036
LEGAL DESCRIPTION: Lot 14 Block 3 Heritage Ridge
PROPERTY TYPE: Residential Single Family
2003
MARKET VALUE
VALUE PRIOR TO
LOCAL BOARD
ASSESSOR'S
RECOMMENDATION
LAND MARKET VALUE 83,000
STRUCTURE MARKET VALUE 444,800
TOTAL MARKET VALUE 527,800 No Change
ASSESSMENT HISTORY 2001 2002 2003
Total Market Value $442,200 $510,200 $527,800
Limited Market Value $405,200 $445,700 $499,100
Improvement
OWNERS CONCERNS:
Mr. Palmberg stated t hat t he e stimated in arket v alue o f s imilar p roperty i n t he area i s
lower and the selling value is lower.
RECONCILATION OF VALUE:
Mr. Palmberg retuned a phone call to me on April 18`
h. He informed me that his only
concern was how the estimated market value and the limited market values are calculated
and not his 2003 Estimated Market Value. I explained how they are calculated and how
they effect his current valuation See attached email from Mr. Palmberg. Based on this
discussion the recommended estimated market value is:
527,800
Ca 4A L
Paul Kingsbury, CMA
Appraiser, City of Plymouth
763 509-5357
pkingsbu@ci.plymouth.mn.us
2003 LOCAL BOARD OF APPEAL & EQUALIZATION
CITY OF PLYMOUTH
April 15, 2003
Address:),A9yo 3,R*" >AeN
Property Identification: 020-) -I I% -o2a 1 y X36
Owner Name:--I'AAd ?A4,ej&ZpZ Purchase Price: 32 3 ,,ndp , 06
Address: JasLla 3;t A 9 Purchase Date: a&Ao5w
City/zip:VM,0,1 mA/ 2003 Estimated
I Market Value: BO
Daytime Phone: %M ;Sc —,Q 7S -
Any appeal should be based on evidence that the 2003 Estimated Market Value exceeds the true, '
market value of the property. Please list the reasons why you believe the'property could not sell ,.
for the value under appeal.
Please check if you wish to summarize your appeal to the Board at the podium.
Page 1 of i
Paul Kingsbury
From: Todd Palmberg [tpalmberg@yahoo.com]
Sent: Friday, April 18, 2003 11:49 AM
To: Paul Kingsbury
Subject: Thanks for answering my questions.
Paul,
Thank you for calling me back regarding my questions on the assessment of my property located in
Plymouth MN.
As per our discussion, I attended the assessment meeting this past Wednesday 4/15 to get additional
information regarding the assessment process and average property value increase.
The information that was handed out at the meeting along with our discussion today answered my
questions.
As per our discussion, the average property increase is related to the Estimated Market value as opposed
to the Limited market value. As you explained, the Limited value increase (which was set at
approximately 11-12% this year) is a different than the average property increase which is determined
by the Estimated Market value.
Again, thanks for answering my questions related to the definition and meaning of Estimated Market
Value and Limited Market value and it's relationship to the average property increase.
Please consider my questions and concerns answered.
Thanks,
Todd Palmberg
12940 32nd Ave. N.
Plymouth MN 554441
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4/18/2003
Written Report #6
2003 BOARD OF APPEAL & EQUALIZATION
STAFF REPORT AND RECOMMENDATION
PROPERTY OWNERS NAME: Sudhir & Sunita Singh
PROPERTY ADDRESS: 16600 401h Avenue North
PID #: 17-118-22-13-0119
LEGAL DESCRIPTION: Westbranch, 2nd Addition
PROPERTY TYPE: Single Family Residential
2003
MARKET VALUE
VALUE PRIOR TO
LOCAL BOARD
ASSESSOR'S
RECOMMENDATION
LAND MARKET VALUE 111,000 111,000
STRUCTURE MARKET VALUE 406,100 392,500
TOTAL MARKET VALUE 517,100 503,500
ASSESSMENT HISTORY 2001 2002 2003
Total Market Value $418,300 $473,600 $517,100
Limited Market Value $418,200 $460,000 $515,200
Improvement ------------------------------
SUBJECT PROPERTY
16600401h Avenue North/Westbranch 2nd Addition
17-13-0119)
ADDITIONAL SUBJECT PHOTO
16600 401h Avenue North/Westbranch 2nd Addition
17-13-0119)
Subject Location Map
SALES COMPARISON ADJUSTMENT GRID
Subject Comparable #1 Comparable #2 Comparable #3
ADDRESS: 16600 40 165T5_407— 16625 40 3795 Black Oaks
PID# 17-13-119 17-42-27 17-42-29 17-42-42
SALE DATE: 5/10/02 2/28/02 10/1/01
SALE PRICE: 419,000 429,900 415,000
TIME ADJUSTMENT: 16,800 25,800 41,500
ADJ.SALE PRICE: 435,800 455,700 456,500
TYPE OF BLDG: Two Story Two Story Two Story Two Story
ABOVE GRADE
FINISH
4108 3270 67,000 3438 53,600 3334 61,900
QUALITY; Avg Avg Avg Avg
AGE: 1998 1995 6,500 1997 1999
CONDITION: Good Good Good I -- -- Good
BEDROOMS: 4 4 4 4
OF BATHS 4 3 4,000 4 4
FIN. BSMT. AREA: 0 0 1,100 19,800 0
WALKOUT: Yes No 4,000 No 4,000 No 4,000
FIREPLACES: 1 1 3 8,000 1
GARAGE: TYPE
AREA SQ FT:
3 stall
attached
3 stall
att.
2 stall
att.
10,000 3 stall
att.
DECK: Yes Yes No 3,000 Yes
PORCHES: No No No Yes
small
SP)
5000
LOT SIZE SQ FT: 45 Acre 32 A 42A 24A
LOT DESCRIPTION: Avg Avg Avg Avg
LOCATION: Westbranch
2 in from
Dunkirk)
Westb.
3 in
from
Dnkrk)
Westb.
on
Dnkrk)
5,000 Westb.
near
Dnkrk/
Cty Rd
9)
5,000
POOL: No No No No
NET ADJUSTMENT: 81,500 47,800 56,900
ADJ SALE PRICE: 517,300 503,500 513,400
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City of This represents a compilation of information and
data from city, county, state and other sources that has
W E
4 Plymouth, M N
not been field verified. Information should be field
verified and compared with origianl source documents.
s
COMPARABLE #1
16525 401h Avenue North/Westbranch 2nd Addition
17-42-0027)
COMPARABLE #2
16625401h Avenue North/Westbranch 2°d Addition
17-42-0029)
COMPARABLE #3
3795 Black Oaks Lane North/Westbranch 2nd Addition
17-42-0042)
VALUE CONCLUSION
LOCATION: Property is the second home on the left off of
Dunkirk on 40th Avenue North in Westbranch 2nd Addition.
SITE: The sitt is .45 acres, wooded in the back and fronting 401h
Avenue North -one of several roads leading into Westbranch.
When facing Mr. Singh's home, to the left is a two story residence,
and to the right are the Townhomes of Westbranch.
IMPROVEMENTS and FEATURES: The home is a large two
story, 1908 single detached residence. It is well maintained With
amenities consistent within the neighborhood of Westbranch.
OWNERS CONCERNS: Mr. Singh feels that he cannot sell
his home for the value that we have arrived at due to the fact
that he is near Dunkirk Avenue North and on
401h Avenue
North. Also, he feels that living next to the townhomes has
reduced his value as well.
RECONCILATION OF VALUE:
After inspecting the property and comparing similar
properties that have recently sold, I recommend that
Mr. Singh's value be reduced from $517,100 to
503,500.
Mike Henderson, CMA
Appraiser, City of Plymouth
2003 LOCAL BOARD OF APPEAL & EQUALIZATION
CITY OF PLYMOUTH
April 15, 2003
Address:
Property Identification: k 7 1 I -- Z2 - 1- 0 I I
Owner Name: S V D H t P It NC,1,
Address:- (44tso LknYh Are- N
City/Zip: L`( Mb U"( h S SLk/
Daytime Phone: % C ," 5 X - 7S Sr
Purchase Price: '3 c( 9 K
Purchase Date: 71 9 j 019
2003 Estimated
Market Value: S `7 p c,
Any appeal should be based on evidence that the 2003 Estimated Market Value exceeds the true
market value of the property. Please list the reasons why you believe the property could not sell
for the value under appeal.
60 V
rAT
u9-
T.IF
jam• u .I 1 %I /. / ' /
Please check if you wish to summarize your appeal to the Board at the podium.
Written Report #7
2003 BOARD OF APPEAL & EQUALIZATION
STAFF REPORT AND RECOMMENDATION
PROPERTY OWNERS NAME: Greg S. Hoglund
PROPERTY ADDRESS: 5635 Dunkirk Lane North
PID #: 05-118-22-31-0003
LEGAL DESCRIPTION: Unplatted
PROPERTY TYPE: Residential
2003
MARKET VALUE
VALUE PRIOR TO ASSESSOR'S
LOCAL BOARD RECOMMENDATION
LAND MARKET VALUE 160,000
STRUCTURE MARKET VALUE 137,400
TOTAL MARKET VALUE 297,400 No Change
ASSESSMENT HISTORY 2001 2002 2003
Total Market Value 269,800 278,800 297,400
Limited Market Value 181,600 199,800 223,700
Improvement 0 0 0
Subject Location Map
i
2003 LOCAL BOARD OF APPEAL & EQUALIZATION
CITY OF PLYMOUTH
April 15, 2003
Address: S6 as- DLN Al
Property Identification: OS ( ( 8 22 310000
Owner Name:
Address: 11220 IMCAF-4W MZ6W
City/Zip: 002 C )2sMl 141V-S'V4a
Daytime Phone: 76 3 478 -d%-242
Purchase Price: 12-2,000
Purchase Date: 12 --SS
2003 Estimated
Market Value: , .015-j
QNB
Any appeal should be based on evidence that the 2003 Estimated Market Value exceeds the true
market value of the property. Please list the reasons why you believe the property could not sell
for the value under appeal.
Please check if you wish to summarize your appeal to the Board at the podium.
CITY OF
PLYMOUT-
April 8, 2003
Gregory & Jackie Hoglund
5635 Dunkirk Lane N.
Plymouth, N N 55446
Re: Revised 2003 Valuation Notice
PID #05-118-22-31-0003
Dear Property Owner:
The following is a revised breakdown of your 2003 Valuation Notice which will impact
your payable 2004 property taxes. Please note changes and retain a copy of this notice for
your records.
Estimated Market Value: $297,400
Limited Market Value: $223,700
Taxable Market Value: $223,700
City of Plymouth
Assessing Department
PLYMOUTH :q Beautifu(Pface to Live
3400 PLYMOUTH BOULEVARD • PLYMOUTH, MINNESOTA 55447-1482 • TELEPHONE (763) 509-5000
www.b.plymouth-minus
OWNERS CONCERNS:
Mr. Hoglund feels that the 2003 assessment is excessive and more than he could ever
expect to sell his home for. He also wants the city to grade the road in front of the
property.
RECONCILATION OF VALUE:
Mr. Hoglund was originally sent a valuation notice that read and 2003 estimated market
value of $485,400. After the notices were sent out it was noticed by our office that there
was an error in his assessment and he was sent a revised evaluation of $297,400. He had
not received the revised value prior to the meeting on the
15th. Upon contacting Mr.
Hoglund on April 16th and explaining the situation to him he concurred with the 2003
value. The value will remain at the revised market value of
297,400
441,
clswt-)
Jan Olsson RES
Senior Appraiser
763/509-5355
jolsson(a-),ci.plMouth .mn.us
WRITTEN REPORT # 8
2003 BOARD OF APPEAL & EQUALIZATION
STAFF REPORT AND RECOMMENDATION
PROPERTY OWNERS NAME: Jeffrey Schipull
PROPERTY ADDRESS: 5553 Vinewood Lane North
PID #: 03-118-22-43-0037
LEGAL DESCRIPTION: Lot 4 Block 4, Bass Lake Terrace
PROPERTY TYPE: Single Family Residential
2003
MARKET VALUE
VALUE PRIOR TO ASSESSOR'S
LOCAL BOARD RECOMMENDATION
LAND MARKET VALUE 58,000
STRUCTURE MARKET VALUE 143,300
TOTAL MARKET VALUE 201,300 No Change
ASSESSMENT HISTORY 2001 2002 2003
Total Market Value 175,700 190,900 201,300
Limited Market Value 166,800 183,500 201,300
improvement 0 0 0
SUBJECT PROPERTY
OWNERS CONCERNS:
Mr. Schipull had questions regarding a 10% increase in his limited, or taxable market
value for his 2001 assessment year/2002 payable tax year and his 8.65% increase for his
2002 assessment year/2003 payable tax year. He would like more information to explain
the percentage allowed for taxable market value.
Mr. Schipull purchased the property on April 4, 2003. He recently had a bank re-
appraisal for a re -finance on his home. He feels based on the bank re -appraisal his home
has decreased in value.
RECONCILATION OF VALUE:
I met with Mr. Schipull on April 18, 2003 to view his property and to discuss the
estimated market value and the laws governing the limited or taxable market value
increases on his property over the past few years. I explained that each year estimated
market values are based on sales that occur in his neighborhood. I gave him a copy of a
sales report from his neighborhood that we used in determining the market value increase
for the 2002 assessment. I also gave him the sales report of sales used for the 2003
assessment. The sale of his property was included in the sales study for the 2003
assessment.
We also discussed his bank appraisal that he had available for review.
After reviewing the sales in his neighborhood and discussing the bank appraisal,
Mr. Schipull agreed the value of home has not decreased since his purchase one year ago.
Based on the purchase price of $226,000 that Mr. Schipull paid in April of 2002, as well
as other sales in his neighborhood, I feel the value on his property should remain
unchanged.
201,300
Cindy Bowman, CMA
Appraiser
763) 509-5353 cbowman@ci.plymouth.mn.us
1
2003 LOCAL BOARD OF APPEAL & EQUALIZATION
CITY OF PLYMOUTH
April 15, 2003
Address: 65 3 Jiq&,4 i 4Z, y#jod)r#
t fN f5yl;
Property Identification: D;- //8-12 Y3_ X37
Owner Name: Sr.-/AXL Purchase Price: 6 , ooa
Address:S3 VW6_00 4 U n/ Purchase Date:
It City/Zip: MAW*, MAI gF yz 2003 Estimated
Market Value: 'f 40, 4B0
Daytime Phone: 70-76,V-61%
Any appeal should be based on evidence that the 2003 Estimated Market Value exceeds the true
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Written Report #9
2003 BOARD OF APPEAL & EQUALIZATION
STAFF REPORT AND RECOMMENDATION
PROPERTY OWNERS NAME: Vladimir and Irina Davydov
PROPERTY ADDRESS: 4585 Forestview Lane North
PID #: 11-118-22-43-0082
LEGAL DESCRIPTION: Lot 11 Block 7 Deerwood Meadows Plat 2
PROPERTY TYPE: Residential Single Family
2003
MARKET VALUE
VALUE PRIOR TO
LOCAL BOARD
ASSESSOR'S
RECOMMENDATION
LAND MARKET VALUE 62,000 62,000
STRUCTURE MARKET VALUE 200,000 178,800
TOTAL MARKET VALUE 262,000 240,800
ASSESSMENT HISTORY 2001 2002 2003
Total Market Value $216,800 $236,800 $262,000
Limited Market Value $208,600 $229,500 $257,000
Improvement
SUBJECT PROPERTY
Subject Location Map
TI
OWNERS CONCERNS:
The Davydovs stated in their appeal that the value was not evaluated correct last year and
they wouldn't be able to sell the house for this amount. They feel they would have to
invest at least $40,000 to sell the house for $250,000.
RECONCILATION OF VALUE:
The property was reviewed on April 18`h. The home is twenty years old and with the
exception of a new roof in 2001, is original. Most of the windows ( including the patio
door) and the composition siding need to be replaced because of deterioration. The
ceiling in the dining area and basement ceiling directly below it, are water damaged and
need to be repaired. The property was reviewed in May 2001 as part of the 2002 quartile.
Since that time more deferred maintenance has occurred. Since the owners do not have
any written estimates for the repair work that needs to done, it is uncertain the exact
amount to remedy the repairs. I agree that the cost would be substantial. The three
comparables are in the same neighborhood and were also interior inspected for the 2002
quartile. At the time of the 2002 quartile inspection, my opinion was that these
comparables were superior in condition to the subject. I contacted Mrs. Davydov on April
23, and she agreed with the new recommendation of $240,800. Based on this opinion
the recommendation is:
240,800
I - Ll 1 C 41 -
Paul Kingsbury, CMA
Appraiser, City of Plymouth
763 509-5357
pkingsbu@ci.plymouth.mn.us
Sales Comaarison Adiustment
ADDRESS: 4585 Forestview
Lane N
4610 Forestview Lane N 4600 Forestview Lane N 4550 Forestview Lane N
PID# 11-118-22-43-
0082
11-118-22-43-0093 11-118-22-43-0092 11-118-22-43-0012
SALE DATE: 12/02 4/02 6/02
SALE PRICE: 250,000 266,000 314,900
TIME 9,300 6,300
ADJ.SALE
PRICE:
250,000 275,300 321,200
TYPE OF
BLDG:
2 Story 2 Story 2 Story 2 Story
ABOVE GRADE
FINISH
2024 S.F. 2001 S.F. 0 1758 S.F. 12,000 2262 S.F. 10,700
AGE: 1983 1983 0 1983 0 1979 0
CONDITION: BA Avg/AA 25000 Avg/AA 27,500 Avg/AA 32,100
OF BATHS 3+1/2 2+1/2 3,000 2+1/2 3,000 2+1/2 3,000
FIN. BSMT.
AREA:
500 S.F. No 9,000 No 9,000 648 S.F. 2,700
WALKOUT: Yes No 4,000 No 4,000 No 4,000
FIREPLACES: 2 1 2,000 1 2,000 l 2,000
GARAGE: TYPE
AREA SQ FT:
2 car attach 2 car attach 0 2 car attach 0 3 car attach 10,000
DECK: Yes Yes 0 Yes 0 Yes 0
PORCHES: 3 Season 2,200 3 Season 7,900 3 Season 11400
NET
ADJUSTMENT:
9,200 5,400 57,900
ADJ SALE
PRICE:
240,800 269,900 263,300
COMPARABLE #1
COMPARABLE #2
COMPARABLE #3
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I City of This represents a compilation of information and w E
I data from city, county, state and other sources that has
i not been field verified. Information should be field S
verified and compared with origianl source documents. Plymouth, MN
2003 LOCAL BOARD OF APPEAL & EQUALIZATION
CITY OF PLYMOUTH
April 15, 2003
Address: 7S-8E,p,ES% V/E J r 4kq nJ-
Property Identification: 3 0092
Owner Name: lei 11,iL &09.!/ P&V Purchase Price: /7/ DOn
Address: Purchase Date: ` Q
i City/Zip: Ss- It Y Z 2003 Estimated
Market Value: 2 D D O
Daytime Phone: 7i3 9574 T
Any appeal should be based on evidence that the 2003 Estimated Market Value exceeds the true
market value of the property. Please list the reasons why you believe the property could not sell
for the value under appeal.
Please check if you wish to summarize your appeal to the Board at the podium.