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1 <br />1 <br />1 <br />BOARD OF REVIEW <br />CITY OF LINO LAKES <br />COUNCIL MINUTES <br />APRIL 18, 1994 <br />Staff members present: City Assessor, Todd Smith; Anoka County <br />Assessor, Jerome Faust; and Clerk -Treasurer Marilyn Anderson. <br />Mr. Smith explained that he is required to physically review one <br />quarter of all the parcels in the City each year. He showed a <br />map outling the part of the City that was physically reviewed <br />during 1993 and the area he will physically review in 1994. <br />Mayor Reinert asked Mr. Smith to prepare a map showing the areas <br />that will be physically reviewed in 1994, 1995 and 1996. <br />Mr. Smith explained that the County has increased the structure <br />value of all properties in the County 3 1/2 to 4 1/2 percent. <br />The overall increase was 4%. This increase in value has prompted <br />many telephone calls. Mayor Reinert asked Mr. Smith to outline <br />the areas in the County with the most dramatic increase in value. <br />Mr. Smith explained that the City of Andover and the City of <br />Ramsey experienced a dramatic increase in value because a large <br />number of new homes were constructed in 1993. He noted that <br />sales of existing homes also has indicated an increase in <br />structure value. In Circle Pines, the sales of post WWII homes <br />experienced an increase in value from $5,000.00 to $6,000.00. <br />Mr. Smith explained that the increase in structure value County <br />wide was an attempt to reflect values closer to actual sales. <br />Mayor Reinert and Mr. Smith discussed other reasons for the <br />increase in structure values such as the increase in lumber <br />prices which increases the cost of a new home. It was also noted <br />that the lot inventory is decreasing and this may cause land <br />values to escalate. <br />Mr. Smith also noted that the quality of new home construction in <br />Lino Lakes is increasing. He specifically mentioned Pheasant <br />PAGE 1 <br />173 <br />