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Board of Review Meeting Minutes <br /> • April 9, 1996 <br /> Page 2 <br /> 1 know if he would be able to even sell his house with the current water problems. Faust <br /> 2 asked what his present valuation was and Mr. Rose responded $106,500. He noted in <br /> 3 .1995 it was $102,000. Mr. Rose stated he would like a re-evaluation. <br /> 4 Motion by Enrooth, second by Marks to approve a County reappraisal of the property <br /> 5 owned by Mr. Tom Rose, 2709 St. Anthony Boulevard, as requested. <br /> 6 Motion carried unanimously. <br /> 7 Ms. M. Michaeloff, 3604 Downers Drive, stated she recently had an appraisal done on her <br /> 8 property. She stated the appraisal was somewhat different from the County's review. <br /> 9 Enrooth asked if it was a real estate or bank appraisal. Ms. Michaeloff stated,it was a <br /> 10 bank appraisal and came in at $140,000 while her tax statement shows a value of <br /> 11 $158,000. She stated her home is in need of updating and the County's value is too high. <br /> 12 Mayor Ranallo noted banks do not normally go up to the true value of the house. <br /> 13 Motion by Marks, second by Wagner to approve a County reappraisal of the property <br /> owned by Ms..M. Michaeloff, 3604 Downers Drive, as requested. <br /> 15 Motion carried unanimously. <br /> 16 Mr. Jim Olson, 3213 Hilldale Avenue NE, (789-9028) stated he is concerned with the <br /> 17 process. He does not want a re-evaluation. In 1994 his property was valued at $141,000, <br /> 18 in 1995 $151,000, and in 1996 $153,000. He stated it is an insult to his intelligence this <br /> 19 inching process that is happening. He would like to understand how such a thing could <br /> 20 happen. Mayor Ranallo stated the Board of Review has a book that has information on <br /> 21 all the houses sold in 1995. Mr. Miller stated not all of a house's value is based on the <br /> 22 characteristics of the house. It depends on the types of homes sold in the City. Mr. Olson <br /> 23 asked if each house within the City is actually looked at. Mr. Miller stated each year they <br /> 24 actually look at 1/4 of all the houses. <br /> 25 Mr. Olson stated he does not want to see his value inched up every year. It does not seem <br /> 26 the right thing to do. Enrooth stated next year if there are not a lot of homes similar to his <br /> 27 sold in his area, there could be a decrease in the valuation. Wagner added it depends on <br /> 28 the demand. <br /> 29 Mr. Olson stated he did not want another appraisal of his home. <br /> 0 <br /> 30 There was no action taken on this appeal b PP Y the Board of Review. <br />