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24 y, <br />CITY COUNCIL BOARD OF REVIEW APRIL 17, 1995 <br />system, he has adjusted the market value from $138,600.00 to <br />$133,400.00. He noted that he has some recent sales in that area <br />for comparison. Mr. Smith noted that the style of the home is <br />somewhat different that others in that area. <br />Mr. Smith will contact the Krause's and review the material given <br />to her by her realtor. If the Krause's are still not satisfied, <br />he will send another appraiser to review this property. They <br />will also have the opportunity to bring the matter before the <br />County Board of Equalization. <br />Mayor Reinert expressed satisfaction with the work done by Mr. <br />Smith. He noted that before Mr. Smith became the City Assessor, <br />the council chambers were crowded for this meeting. Mr. Smith <br />explained that a lot of changes have occurred that are not under <br />his control. He gave a brief explanation of how the appraisal <br />system operates. <br />Council Member Neal asked for a clarification of property values <br />in the Apollo Business Park. Mr. Smith said there was some <br />miscommunication regarding who was paying the actual assessments <br />on the property. He understood that the new landowner had paid <br />his own assessments. This would increase the value of the <br />property. However, since this is not the case, those property <br />values have been adjusted. Property owners will be notified by <br />mail of the changes. <br />1 <br />1 <br />Ms. Boyle explained that many things go into calculating the <br />value of commercial property. The process is complicated. <br />Council Member Kuether asked if the property owners in the Apollo <br />Business Park are getting a break because they are getting Tax 1 <br />Increment Financing (TIF)? Ms. Boyle explained the process and <br />noted that Fiscal Disparity comes into the process. She noted <br />that most areas of Anoka.` County benefit from Fiscal Disparity and <br />certainly Lino Lakes benefits. <br />Mr. Smith explained the "This Old House" legislation. The <br />purpose is to restore properties over 35 years old. The <br />increased value of the property is deferred or spread out over <br />several years. There was discussion regarding how this <br />information can be given to the public. Mayor Reinert asked that <br />this matter be brought before the City Council at a work session <br />so that the newspapers can publish the information. <br />Mr. Smith told the City Council that he has just finished <br />rephotographing the entire City. <br />Ms. Boyle noted that Mr. Gary Uhde has called and sent a letter <br />PAGE 3 <br />