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s April 9, 2012 Board of Appeal and Equalization This appeal is for consideration of property value reductions for six unique properties located on the southeast corner of Anoka County, with Lakeshore in Washington County. We appreciate the Lino Lakes Councils assistance in gaining a long term solution to this multi- county issue, and the Anoka assessor's office working with us on land value adjustments; however we still believe these properties are overvalued for tax purposes. This is primarily due to assessment by dual taxing agencies, further complicated by assessed value for lake view or lake shore in their respective calculations. We know that the prime cause is the over 500% increase in Washington County valuations. A further irritation is that all services for these properties is provided by Lino Lakes and Anoka County. We will appeal to Washington County, but from past appeals we are doubtful that we can achieve full recourse from Washington County and are asking for further relief via this review request. We are requesting these properties land valuations be based off similar sized non -lake lots in Anoka County since we are assessed for lake shore by Washington County. The properties are: PIN 36- 31 -22 -44 -0001 36- 31 -22 -44 -0004 36- 31 -22 -44 -0005 36- 31 -22 -44 -0006 36- 31 -22 -44 -0008 36- 31 -22 -44 -0009 Name SILK, JAMES WILLIS KULAS JOHN E GRISARD JUDY M & ERROL WALL ROBERT & KATHY WISNIEWSKI MICHAEL J GUARDINI JAMES & MARI Regarding Land Valuations / Considerations for a reduction: Location Address 6121 W BALD EAGLE 6110 W BALD EAGLE 6026 W BALD EAGLE 6020 W BALD EAGLE 6011 W BALD EAGLE 6008 W BALD EAGLE /r ` LO L 1. Standard and Poor's / Case - Shiller research shows property values have dropped by approximately 34% from the housing peak earlier in this decade. We have included one of the properties as an example of tax data from Anoka and Washington Counties from 2003 to the estimated 2013 valuation. The other properties follow this same pattern. This is for 36 -31- 22 -44 -0004 — 6110 W. Bald Eagle, Lino Lakes. Reducing the high valuation in 2008 by34 %_ projects as $331,000. We know valuations will increase in a similar pattern after the housing crash recovers and are concerned we are at too high a starting base. 2. Some current property for sale: Zillow.com has a listing on the north end of Bald Eagle for $350,000 — 225' lake shore 1.7 acres - 4394 129th St. N. Attached is a realtor's sales ad from March 28, 2012. Some of the noted properties for sale are: a. 6246 Otter Lake Road — 150' lake lot at $75,000 b. White Bear Lake — similar aged split level with WBL access for $ 349,000 c. 'Sweeping Lake View' and 225' shore on Bald Eagle for $ 360,000 3. We have updated the one actual sale comparison for the 6020 property comparing sale and current valuations to the Anoka Assessor's office comparison property sold at the same