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04-29-03 agendaCITY OF RICHFIELD TUESDAY, APRIL 29, 2003 LOCAL BOARD OF EQUALIZATION 6:30 P.M. COUNCIL CHAMBERS AGENDA Call to order Roll call I. Convening of 2003 Richfield Board of Equalization Staff Report No. 103 Adjournment Auxiliary aids for individuals with disabilities are available upon request. Requests must be made at least 96 hours in advance to the Administrative Services Director at 612-861- 9702. AGENDA ITEM # 1 REPORT # 103 /~ J STAFF REPORT SPECIAL CITY COUNCIL MEETING BOARD OF EQUALIZATION APRIL 29, 2003 REPORT PREPARED BY: COUNCIL PRESENTER: DEPARTMENT DIRECTOR REVIEW: REVIEWED BY CITY MANAGER: STEVEN L. DEVICH, ADMII~TISTRATIVE SERVICES DIRECTOR N~ Tact: ITEM FOR COUNCIL CONSIDERATION: Convening of the 2003 Board of Equalization. I. RECOMMENDED ACTION: Convene the 2003 Board of Equalization and By Motion: Acton each individual appeal to the Board. III. BACKGROUND ~ The 2003 Richfield Board of Equalization is scheduled for Tuesday, April 29, 2003 at 6:30 p.m. in the Council Chambers of City Hall. As provided by City Charter, the Board of Equalization consists of the Mayor, Council Members and two citizens appointed by the City Manager with confirmation by the City Council. Mr. Lawrence Emond and Mr. Glenn Erickson were recently appointed to serve on the 2003 Board of Equalization. n The duties and responsibilities of the Board of Equalization are established by State law. In general, it is the Board's responsibility to hear appeals by property owners from the Estimated Market Values (EMV) established by the City Assessor and to determine if market values should be adjusted. The appeals must focus on market 0429 Bd Equal 03 values rather than tax rates or other concerns which property owners may bring up --~ to the Board. Each parcel of property in Richfield has had an EMV set as of January 2, 2003. Overall, residential property values increased by approximately 13.3% from 2002 values. Properties which were physically reappraised received reductions and increases, but were generally increased. Properties which were not physically reappraised received statistical adjustments based on the characteristics of the property and a computer assisted assessment. The Richfield property assessment was conducted through a contract with Hennepin County, which is supervised by the Administrative Services Department. Staff works closely with the Hennepin County Property Appraisers to ensure that the local- assessment complies with the provision of the law. For example, the Administrative Services Director verifies that the number of on-site properties appraised for 2003 meets the standard (25% of-total properties in the City) established by law. In addition, the median ratio (comparing EMV to sales price) for Richfield's 2003 assessment is 95.7%. The County Assessor's suggested level of assessment (median ratio) for all municipalities in Hennepin County is 95%. Thus, the Richfield local assessment is on target with comparable Hennepin County communities. On March 14, 2003 property valuation notices were mailed to all property owners showing the 2003 EMV. The notices advised property owners to contact the City Assessor's office regarding any questions or to schedule an appearance before the Board of Equalization if the property owner desired to challenge the EMV. About 84 inquiries have been received to date, as compared to 74 last year. In addition, Assessing staff did 15 property reviews. Some resulted in adjustments by the Assessing staff. III. BASIS OF RECOMMENDATION A. POLICY • State Statute and City Charter mandate a Board of Equalization Hearing each year to be conducted before May 31. • The City Council has established Tuesday, April 29, 2003 at 6:30 p.m. as the date and time of the Board of Equalization Hearing for 2003. B. CRITICAL ISSUES • To date, two individuals have notified City staff requesting to appear before the Local Board. • The Board must be completed within 20 days of the day the Board is first convened. C. FINANCIAL • None D. LEGAL "-' Any adjustments made by the Richfield Board of Equalization will be recorded on the property assessment rolls. After appearing at the Local Board, property owners may subsequently appeal to the Hennepin County Board of Equalization and/or the State Tax Court. • Notice of the hearing has been published and posted pursuant to law. IV. ALTERNATIVE RECOMMENDATION(S~ • None V. ATTACHMENTS • Property comparison analysis. VI. PRINCIPAL PARTIES EXPECTED AT MEETING • Larry Miller, Hennepin County Appraisal Supervisor • Craig Lone, Hennepin County Property Appraiser n CITY OF RICHFIELD LOCAL BOARD OF REVIEW TUESDAY, APRIL 29, 2003 6:30 P.M. 2003 RICHFIELD LOCAL BOARD OF REVIEW APRIL 29, 2003 Owner 2003 EMV Review Appraisal Recommendation James Noonan 264,000 275,000 No change 6921 12th Ave So 26-028-24-43-0098 r~ ~d +:....~ ::.~: . ,.. I~ ,. ~ ~ ~<_ r /.J ~. ~ ~:~: ADDRESS: 6921 - 12TH AVE S PID #: (42) 26-028-24-43-0098 Sale Date: 08/1998 Sale Price: $173,956 2003 EMV: Sale Date: Sale Price: Style and Story Height: Two Story Age: 1998 Ground Floor Area: 1,064 Sq.Ft. Above Grade Area: 2,128 Sq.Ft. Bsmt. Area: 100% Finished Bsmt. Area: 1 0% Fireplaces: 0 Central Air Conditioning: Yes Baths -Deluxe: 0 Full: 1 3/4: 1 1/2: 1 Porches - Glazed: 0 Screened: 0 Open: 48 Deck: 284 Garage #1: 476 Type: Attached Garage #2: 0 Type: Lot Size: 8,160 Sq.Ft. 0.19 Acres Lake/Bay/Rating: 0 - 0 - 0 Effective Frontage 60 Comments: '"x--~:''"' v' ~~,~ SALES COMPARISON ADJUSTMENT GRID .: . ... .. ..MP~R~IBL~::~3:.;:.;:.;:.:: . ...... ::::::.: © P . 6921 12th Ave. S. 7432 Aldrich Ave. S. 7508 Stevens Ave. S. 7204 1st Ave. S. 7241 Emerson Ave. S. i ` . .................:::::::::::::;::::::,:..:. Richfield Richfield Richfield Richfield Richfield ::.:::::::::::::.,::_;;;, 26 028 24 43 0098 33 028-24-41-0026 34-028-24-42-0082 34-028-24-13-0091 33-028-24-13-0100 5~!1#itwl7~f~T~<><>>>><'>' ............................................. n.a. Nov-02 Au -02 g e -02 S p - Sep 02 ~4#:~~P#iifr.~i~~~'~~`~::::: n.a. $245,000 $247 000 $265 000 $287 500 '~1NE'~~j#l;E~~~'tE~~~~'~ 1 % 4% 3 % 3% Ai:~JSl~tLE!?F~I..~E'~ $247,500 $256,900 $273,000 $296,100 ~1s~J4)~~~~Sf2~~~?'': $171.39 $116.77 $141.59 $156.66 ?`Ek~F£~1LC1~E~«;< Two Story Two Story Two Story Two Story Two Story 1~~~~L#~~A#!4E~4<> ~~~ 1064 s.£ 954 s.f. I170 s.f. 1202 s.f. 1110 s.f. G~€15~>#~t+2~A: 2128 s.f. 1444 s.f. $27,400 2200 s.f. ($2,900) 1928 s.f. $8,000 1890 s.f. $9,500 (~1......:...:, .:::::::::::::::::::::::.:: Above Avg. Similar Inferior $10,000 Similar Similaz :::::::.~ ::::::::::::.::~:::::::. 1998 1999 1948 $15,000 1998 1979 G(y~I~klTlski!1><`>~`::>3~«~''~ ......................... Good Similar im'1 S ~ az Similar Similar ~~f`F~3~£'tMS~:`«<> 4 4 4 4 4 2tt1~5~~#3~VI$:>><'~'# 4 2 5 3 4 1~~£)#~N[S>>>>z 4 2 5 4 3 >< ~iiF#~'# 1 1 2 4 000 2 4 000 :<[ 314EEEEEEEEEE~Ei> 1 1 I 1 1 ::.>::>>»»~~:.»>: ~<> ~7121/d£3«? ........ 1 0 2 000 $ , 0 $2,000 1 I ~A.~hi~1)~~{k~~A'E~'' Full Full 70% 90% 70% )*Ii~ft3u.~.M'f"i4fZ~~k''z 100 s.f. none $2,000 none $2,000 600 s.£ ($10,000) 465 s.£ ($7,300) ~~~f~€~13T>~''~`<<'~'~~> no no no no no )!~1#~~`~#!L~IC~S:>'"~'':~': 0 ] ($2,000) 1 ($2,000) 1 ($2,000) 1 ($2,000) l!#1~T~€?DL)141fs".~``~' GFA/CAC GFA/CAC GFA/CAC GFA/CAC GFA/CAC ''G~46E:'TYPE:::;;':;:> 2 car att. 2 caz att. 2 caz att. 2 car det. 2 car att. ~11~tEA~CI#~:T> >'>>~~~~~~> ....................... 476 672 4900 ($ > ) 504 4 4 8 $2,000 440 s.f. :~c, ::::::::::::.:::::::::::::::::::. 284 s.f. none $3,400 240 s.f. 143 s.f. $1,700 198 s.f. $1,000 P~I~~FI~$:r>>~>z<~~''<` ....................................... 48 s.£ O.P. none $1,200 none $1,200 198s.f. O.P. ($3,000) 64 s.f. O.P. L~:?T~ISQ~3•s<>~'~ 60x136 50x130 75x13 ($5,000) 50x117 65x134 A~'1..~i!€.; :.::::;::;:.: _:::;:;,, Avg. Similar Similar Similar Superior ($20,000) Remod. Kit. T~i~~k~~11R~1!~'1~.::<::<:»::: :;::>::>::>::»;::::::»:«::<::«:«:«:>:«<:>:; $29,100 $16,300 ($7,300) ($18>800) _ _:..JI ~ ` fwd.... 276 600 $ 273 200 26 70 277 300 :SAL~~..~'~.:1*3;s:.;.:.; •:< ::...:::::::::::.:~:::::::::::.::. $129.98 $128.38 $124.85 $130.31 Indicated Value As Of January 2, 2003: $275,000 $129.22 PerSgFt COMPARABLE SALES Comparable #1 7432 Aldrich Ave. S. Richfield Comparable #3 7204 1st Ave. S. Richfield - -- ~.~ ~- - .~._ Comparable #2 7508 Stevens Ave. S. Richfield Comparable #4 7241 Emerson Ave. S. Richfield P ;> > i s s o bN • ~ ~ _• XERxES •vE ~-ye---.-_-_-------~ w ASNBURM ~ r~ ___- _ VIMCCNT I \~"`-~ --~ U~TON ~~ _~ _ _~ TNOr A$ I~~ --' SMCRIOAM ~~ _-- ~. RUSSEII I ~' ~ OUf EN li ~--~_~: II III I ,~ ~. PENN AvE. ~' ,I ~i`~~ I~i^~ OLIVER ~~ MEw TON ~~ ~, rORG 1M I~I ~~-~~ ~; LOGAN U~~ I-+ ~I ~, ~I KMOx it ~I vArES IRVING ~• ~ ~ ~~ NUYBOIDT __111` __ -~Y---~ GIRARD jI ~~u'~--J~. FRELdfT ,~/ I`-~ ~~ ErERSON ~^ ~~~` DUPONT II IL_I COL FAX ~I ~;~~~ ~ BRYANT ry~lIU i AL DRICN uU~l I ~'~~~I lYMOAIE AVE. GIRFIEID II ~ru~~ HARRIET I ~ , GRAND ~ I ~ -~ I ~~ _ _~-~: PILLSBURY II~~J i~~~~f wENTWOQTN li~~--' ~I~~i BLAB DELL ~\\~~~~ ,~~~ MICOILET AVE. "-"~~ `~~; ' i J i ~- I ^t I ~I ~~~ $TEVEN$ III '~--~ ~-~ zl,a ~1~JI~~JO: cu.rroN '~' II~,~; 41n II~~ I]~I~'~~ stn I 7~~"~~~~~! -ORTLAMD Av E. ~,f~ ~ ~ 1--~----~~ ~' OAKLANp ~~r-lo~~~- PARK Ali ILA;;,---~~'J L-J_ COIUrBUS I' ~~~~~ I ~~~~~ CHICAGO I I ELLIOT I I '~ IO to ~I II ~I~~~~I~. II to ~~~ ~1~~~~1 12 to I' j~~'~~~~', 1)In u~~~'-~ u to ~~~ I ! II IS In I '~ ~~~~ BLDOrIMGTON 16th I' i ..1~ ~~_._ ~. II I _. ~~i~ _. _. _.~ 1 7 1 n I ~~~ ~ ' I' _ ~' _JI I IB In ~~_ CEDAR AvE _ _~ I I IONGFEILOw __________D>, T._________ a • S i° o' v a rn s '> o m ... n n t 1 O 'T7 ~ C . O H R. T _ { ~ fr ; ~../ Z T T T P U _ _ G 'G O T 0 P N~ s ~ _ r y xERxES AvC. ~~~~ wASMBURM I =-J VINCENT I LIPTON J TNOrAS SNERIDAM RUSSELL OU[EN -ENM AvE OLIVER 1~ MEwTON I YOR6AM LOGAN ` II RMOX a I ~ArE3 IRVING i, NUYBOLOT GIRARD FREHO/!T •~\ I ErERSON ~ II OU PONT I III I' COLFAx I(I ~I BRYANT I~ •LORICN I~ LYNDALE AVE. ICI GARFIEID ~ I HARRIET III GRAND I I I ~.1t~, PLE154 NT '~'~ I PILLSBURY i I , WENT WORTH I ~ BLAISDELL NICOLLET AVE. Itl STEVENS z ~a ~ ~,. CUNTON Iln I sln I' PORTLAND AVE OAKLAND l_ PARK I' COIUrBUS I CHICAGO I ElL10T II IO In I ~I~ II to I~1 12 to I~ to Ills IS rn BLDOrINGTON 161K I 1171n I le,n r---- :~ CEDAR Av E. L.OIIGFELLDw 19 in 20th 21 ~t 22 e~ $TANDI$N zs ra P r O Z D ~G R-- T P V~ V