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P2( BOARD OF REVIEW MINUTES May 9, 2011 Draft 46 actually come from the period when there was a tax rebate in place, that kept home prices higher. • 47 His comparables are also of homes that are more similar to his own. 48 49 Ms. Weiner noted that state law allows her to look only at a certain period for comparables. Further, 50 the sale of Mr. Jackson's home is not a qualified sale, because he purchased the property from a 51 relative. 52 53 Mr. Jackson explained that he bought the home in November of 2010 for $200,000 from his father -in- 54 law who has just purchased it from the estate of the disceased. There are two issues that make this 55 house overvalued — the sigma attached to the death in the house and secondly the fact that it is valued 56 higher than comparable homes. He added that because of the death, there are certain elements who 57 will never purchase the house. He read information that he stated was from a study of 58 psychologically impacted properties — the home has a history and it affects his property value. 59 60 The mayor noted that apparently the more a home changes hands, the less stigma it carries. He noted 61 that if all the comparables are averaged, the value would still come in over $200,000 and further the 62 12 percent that it has been reduced this year is quite higher than the average percentage seen 63 throughout the city. 64 65 The council concurred that Mr. Jackson should have the option of going to the county board of 66 appeals. 67 68 ADJOURN • 69 70 There being no further business, the meeting was adjourned at 6:30 p.m. on a motion by Council 71 Member Roeser, seconded by Council Member Gallup, and adopted on a voice vote. 72 73 These minutes were considered and approved at the regular Council Meeting on May 23, 2011. 74 75 76 77 78 Julianne Bartell, City Clerk Jeff Reinert, Mayor 79 • 2