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04-07-14 Council Packet
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04-07-14 Council Packet
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8/29/2014 8:58:35 AM
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City Council
Council Document Type
Council Packet
Meeting Date
04/07/2014
Council Meeting Type
Work Session Regular
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Anoka County City of Lino Lakes <br />A non-resident may file written objections to his/her assessment with the county assessor <br />prior to the meeting of the Board of Appeal and Equalization. Such objections must be <br />presented to the Board for consideration while it is in session. <br /> <br />Before adjourning, the Board of Appeal and Equalization should cause the record of the <br />official proceedings to be prepared. The law requires that the proceedings be listed on a <br />separate form which is appended to the assessment book. The assessments of omitted <br />property must be listed in detail and all assessments that have been increased or decreased <br />should be shown as prescribed in the form. After the proceedings have been completed, the <br />record should be signed and dated by the members of the Board of Appeal and <br />Equalization. It is the duty of the county assessor to enter changes by Boards of Appeal and <br />Equalization in the assessment book of each district. <br /> <br />The Local Board of Appeal and Equalization has the opportunity of making a great <br />contribution to the equality of all assessments of property in a district. No other agency in the <br />assessment process has the knowledge of the property within a district that is possessed <br />jointly by the individual members of a Board of Appeal and Equalization. The County or State <br />Board of Equalization cannot give the detailed attention to individual assessments that is <br />possible in the session of the Local Board. The faithful performance of duty by the Local <br />Board of Appeal and Equalization will make a direct contribution to the attainment of equality <br />in meeting the costs of providing the essential services of local government. <br /> <br />Market Value Statistics <br />After thorough studies of the sales in the market place are conducted, we establish the assessed <br />value of all real property. During the 2013 study period for the 2014 assessment, we recorded <br />7,211 sales countywide of all property types. Of these sales, only 3,160 were considered "arms- <br />length" transactions. The remaining 4,051 sales not considered arms-length would include <br />foreclosure sales, bank sales, sales involving government entities and sales between related <br />parties. <br />During the 2013 Sales Period the total number of transactions rose by 993, or 13.8%. The <br />number of non-arms-length transactions (mostly foreclosure sales) rose only 99, or 2.44%. We <br />believe that this is reflective of the recovery that we’ve been hearing about in the media. <br />Later in the report you will see sales analysis information for this city and for the entire county. <br />This information will relate to improved residential properties only and will not include vacant land <br />sales or sales for commercial, industrial or apartment properties. <br />In accordance with the results of these sales studies, certain areas of the city and certain styles <br />and grades of homes may have adjusted values either lower or higher than the previous year's <br />value. The new values reflect market trends during the period of October 2012 thru September <br />2013. These numbers were then time adjusted based on the time adjustment supplied by the <br />Department of Revenue. <br /> <br /> <br /> <br />12 <br />
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