CC MINUTES 04121988 - Laserfiche WebLink

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I satisfied with the $2,000 reduction in valuation they had been given by the assessor, who made an onsite inspection of the property at their 3 request. 4 Mr. Bredemus told the Council the house had been purchased in 1985 5 for $92,000 and the 1988 valuation had been $91,000, which the 6 assessors had reduced to $89,000 after looking at the house. He said 7 the back yard had been flooded three times and there had been 20 inches 8 of water in the basement in the three years he had lived there and his 9 sons didn't think a $2,000 reduction would go far towards installing 10 drain tiles or putting a $1,000 check valve on the drain. The resident 11 said he presumed that even if these preventive measures were taken, 12 there would have to be full disclosure of the water problems to any 13 perspective buyer and the asking price would have to be jacked up to 14 cover those costs. 15 Assessors Perceive Further Reductions Improbable 16 The assessors indicated the person from their office who had inspected 17 the property had based the $2,000 reduction on the condition of the 18 house as it was when he inspected it and it would be unlikely that 19 further reductions would be given. Mr. Bredemus was also told the 20 property's valuation had probably not been greatly affected by the 21 construction of a larger than usual home in his area. The assessors 22 also said it was not their office which considered properties on St. 23 Anthony Boulevard more valuable, but rather the sale of properties on '4 that street which set the valuations and the market makes very little i differentiation between corner and mid -block lots with larqe back 26 yards. 27 Councilmembers advised Mr. Bredemus further by saying: 28 Sundland told him the Assessors Office had provided each Councilmember 29 with a brochure showing recent sales of homes in St. Anthony 30 and there were several homes similar to this property whose 31 sale prices were comparable to this valuation; 32 pointed out that the location of the home might have some 33 bearing because he knew of a case of a family who bought a 34 home in his own neighborhood who deliberately bid $6,000 35 over the asking price to assure getting a home close to 36 St. Charles Church, which, of course, probably affected his 37 own value; 38 said as far as the City finding solutions to long standing 39 water problems on streets like St. Anthony Boulevard went, 40 the study the engineers were just completing seemed to indi- 41 cate those solutions wouldn't be inexpensive for either the 42 property owners or the City as a whole if adopted. 43 Enrooth said there had been flooding problems on that portion of the 44 Boulevard ever since he could remember; 2