CC BOARD OF REVIEW MINUTES 04141987

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• -7- 4: 00. The assessor had been very courteous in spite of this, the property owner said and following his inspection had adjusted her valuation down to $93 ,500 . However, Ms. Fritz said, she had taken advantage of three realtors ' offers to give a free appraisal of her home and they were all within $4,000 of each other in suggesting she might get from $86, 000 to $90,000 for her home, but only after she had spent between $7,000 and $8,000 to remodel her kitchen and finish off the second bathroom she has in the basement. Ms. Fritz said her home has only one fireplace, one ceramic bath and no deck and from what she has observed from sales in the Village, she does not believe her split level home is assessed at or below its market value. She said Bill Bowerman' s split level house which is near her had sold for $107 ,000 last year, but she perceived that house had been far superior to her home in quality. She concluded by saying she perceived the assessors "were doing a number on me. " This statement drew the following responses: Sundland -pointed out that his own home, which he had built for $20,000, had increased in value at about the same rate as • Ms. Fritz ' s home over the years. Ranallo -suggested a paid-for appraisal might have come in higher; -indicated the County had probably picked up on the change of property owners in 1982 and raised its assessed valua- tion without an inspection. Hanscom -said he had talked to the assessor who had inspected the Fritz property and supported his estimate that the valua- tion should be reduced no further than the $93 , 500; -told Councilmember Marks the Board of Equalization would weigh a paid-for, market rate, real estate appraisal against the assessor' s recommendation and he had no idea which would prevail. Marks -told Ms. Fritz it sounded to him like she might have better success taking her case to the Board of Equalization than she would having another inspection of her property. The property owner agreed, saying she had only wanted to make a statement at this hearing and had intended at the beginning to address the Board of Equalization about her concerns with what happens to property after a divorce, perceiving the treatment she received in this case was one of the reasons women and children end up being poor.