CC BOARD OF REVIEW MINUTES 04102001

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1 Board of Review Meeting Minutes • Apri 1 10, 2001 Page 3 1 Councilmember Horst agreed and stated if there is validity to Ms. Osipenko's claim, the 2 Assessor will discover that from an inspection. He explained that homes in St. Anthony are 3 increasing in value and when they sell, they will realize the increase. 4 Mayor Cavanaugh noted that Ms. Osipenko's income is probably not increasing at the same rate 5 as the valuation increases. He noted this forces the elderly who live on a fixed income out of 6 their homes. He reviewed the work of the Legislature to revise the tax laws to address that 7 problem. 8 Ms. Doolittle explained the property tax refund program and encouraged Ms. Osipenko to 9 research that option since she may be eligible. Ms. Doolittle explained that residential taxes 10 cannot increase by more than 8% in a given year. 11 Anthony Kazor, 3008 33rd Avenue NE, stated he believes his home should have a limited value 12 of$180,000 and the estimated market value reduced from $204,000 to $200,000. He suggested 13 that if he sold his home for$200,000 he would have to pay someone $14,000 to sell it so the 14 value would be$186,000. Mr. Kazor stated last year his property was increased to$178,000. He 15 stated he has made no improvements to his property since 1995 unless it was a hazard so some 4 things are deteriorating like the sidewalk, deck, and roof which are 22 years old. He stated he would also have to put on new roof if he sold it. He noted that the seniors are having problems 18 and so are others who work and have children. Mr. Kazor stated he thinks the value should be at 19 $180,000. He advised that his house is unique since it is on 33rd Avenue which is not a quiet 20 area. Also, the tennis courts create light in his house which sometimes disturbs his sleep until 21 they are shut off. 22 Mayor Cavanaugh asked about the percentage of increase. Ms. Doolittle stated the valuation was 23 $173,000 last year and$200,000 in 2001. The average increase is 16%. 24 Mr. Kazor stated his concern is the limited market value since that is what he pays taxes on. He 25 stated he bought in 1995 for$168,000, however, the house has been on the market for over a year 26 so he thinks he paid too much when he purchased it. 27 Ms. Doolittle stated she looked at this property and compared it to other sales. The house is a 28 1,400 square foot split entry and since there are not many of those, the sales comparison was to 29 split level properties. Ms. Doolittle stated Mr. Kazor's home is superior to those comparisons. 30 She advised of other similar home sales and stated they did take deterioration into consideration. 31 She stated she believes this is a fair valuation as the increase has been less than 20% since the 32 purchase price in 1994. 33 In response to Councilmember Sparks, Ms. Doolittle explained how they take busy streets into 0 consideration.