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04-29-92 agendaCITY OF RICHFIELD, MINNESOTA Council Letter No. 106 Agenda April 29, 1992 Issue Statement: Convening of the 1992 Board of Review. Backgrounds The 1992 Richfield Board of Review is scheduled for Wednesday, April 29, 1992 at 7:00 p.m. in the Council Chambers of City Hall. As provided by City Charter, the Board of Review 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 1992 Board of Review. The duties and responsibilities of the Board of Review are established by state law. In general, it is the Board's responsibility to hear appeals by property owners from the Estimated Market Values established by the City Assessor and to determine if market values should be adjusted. The appeals typically concern market 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 Estimated Market Value (EMV) set as of January 2, 1992. Overall, residential property values decreased by approximately .2% from 1991 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. For the eleventh year, the Richfield property assessment has been 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 1992 exceeds the standard (25% of total properties in the City) established by law. In addition, the median ratio (comparing Estimated Market Value to sales price) for Richfield's 1992 assessment is 92.523%. The County Auditor's suggested level of assessment (median ratio) for all municipalities in Hennepin County is 92.5%. Thus, the Richfield local assessment is on target with comparable Hennepin County communities. On March 26, 1992, property valuation notices were mailed to all property owners showing the 1992 Estimated Market Value. The notices advised property owners to contact the City Assessor's office regarding any questions or to schedule an appearance before the Board of Review if the property owner desired to challenge the EMV. About 150 inquiries have been received to date, as compared to 410 last year. In addition,. 40 property reviews were done by Assessing staff. Some resulted in adjustments by the Assessing staff. To date, the City has received four notifications of appeals to the local Board of Review. All of these individuals indicated that they will appear before the Local Board. - A list of the property owners who are appealing their EMV is attached to this Council Letter. Any adjustments made by the Richfield Board of Review 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 Review, and then to the State Board of Review and/or the State Tax Court. Recommended Motion: It is recommended that the Board of Review convene at 7:00 p.m. on Wednesday, April 29, 1992 and conduct the business scheduled for the Board. Basis for Recommendation: 1. State Statute and City Charter mandate a Board of Review • Hearing each year to be conducted before May 31. 2. The City Council has established Wednesday, April 29, 1992 at 7:00 p.m. at the date and time of the Board of Review Hearing for 1992. 3. Notice of the Hearing has been published and posted pursuant to law. Alternative Recommendation: None. Discussion/Decision Mode: The Hearing is likely to be conducted and completed on April 29, 1992. However if it becomes necessary, the meeting could be continued to a future date in May. Respe u y submitted, James D Prosser City ager JDP:cak 40 LOCAL BOARD OF REVIEW April 29, 1992 Appearances Terry Bruder, 621 East 68th Street, 26-028-24-33-0132, 1992 EMV 110,500 Hugh Weber, 7620 16th Avenue South, 35-028-24-44-0015, 1992 EMV 109,800 Jane Conway, 7021 Oliver Avenue South, 33-028-24-22-0049, 1992 EMV 96,500 Don & Mary Erickson, 7116 Cedar Avenue South, 35-028-24-11-0015 1992 EMV 165,000 and 7413 Penn Avenue South, 33-028-24-32-0022 1992 EMV 240,000 (Data not available) 0 0 SUBJECT PROPERTY Address 621 East 68th Street PID 26-028-24-33-0132 Story Height 1 Story Baths 1 Full 1st Floor Area 1457 Sg. Ft. Baths None • Gross Building Area 1457 Sq. Ft. Finished Basement 650 Sq. Ft. Year Built 1965 Walkout No Condition Good 1st Floor Rooms Living room, kitchen, family room, 3 bedrooms 2nd Floor Rooms None Bedrooms Comments: 3 Fireplace 2 Air Conditioning Central Garage 440 Sq. Ft. attached Porches/Deck None Lot Size 65 x 131 GRID - COMPARABLE DATA APPLICANT'S NAME: Earl and Terrine Bruder ADDRESS: 621 East 68th Street PROPERTY ADDRESS: 621 East 68th Street P.I.O. #: 26-028-24-33-0132 MUNIC: Richfield SUBJECT 708 E 68 St 626 E 68 St 737 E 68 St 7027 Park PROPERTY COMP #1 COMP #2 COMP 43 COMP F4 TYPE OF BLDG.: Rambler Rambler Rambler Rambler Rambler STORY HEIGHT: 1 1 1 1 1 1ST FLOOR AREA: 1457 1284 1225 1193 1420 GROSS BLDG. AREA: 1457 1284 1225 1193 1420 YR. OF CONST.: 1965 1956 1964 19.56 1955 CONDITION: Avg Avg Avg Avg Avg 1ST FL. ROOMS: 6 5 6 6 7 2ND FL. ROOMS: 0 0 0 0 0 BEDROOMS: 3 3 3 3 3 BATHS: 2 1 1 3/4 2 2 HALF BATHS : 0 0 1 0 0 FIN. BSMT. SQ.FT.: 700 375 350 825 350 WALKOUT: No No No No No • FIREPLACE: 2 2 2 2 2 AIR COND: Yes Yes Yes Yes Yes GARAGE AREA: 440 Att 400 Att 624 Att 400 Att 400 Att PORCH AREA: None 60 E. P. None None 168 Deck LOT SIZE: 131x65 131x53 131x60 130x65 70x135 COMPS-SALE DATA: SALE DATE 3/90 11/90 10/91 9/91 SALE PRICE 94,000 94,000 94,500 108,000 SALE/SQ.FT. 73.20 76.73 79.21 76.05 SUBJECT - ASSESSMENT DATA 1992 ASSESSMENT 110,500 ASSESSMENT/SQ.FT. 75.84 REMARKS: COMPARABLE #1 708 East 68th Street COMPARABLE #3 737 East 68th Street COMPARABLE #2 626 East 68th Street COMPARABLE #4 7027 Park Avenue South 0 SUBJECT PROPERTY • Address 7620 16th Avenue South PID 35-028-24-44-0015 Story Height 1 Story 1st Floor Area 1432 Sq. Ft. Gross Building Area 1432 Sq. Ft. Year Built 1960 Condition Good Baths 1 Full I Baths 1 Finished Basement 715 Sq. Ft. Walkout Yes Fireplace 2 1st Floor Rooms Living room, - Air Conditioning kitchen, 3 bedrooms 2nd Floor Rooms None Central Garage 2 car attached Porches/Deck None Bedrooms 3 Lot Size 105 x 85 Cut-de-sac Comments: Subject property abuts Washington Park and has a view of apartment buildings on the other side of the park. 0 APPLICANT'S NAME: Hugh A. Weber ADDRESS: 7620 16th Avenue South PROPERTY ADDRESS: 7620 16th Avenue South P.I.D.: 35-028-24-44-0015 OMUNIC: Richfield SUBJECT 7125 16th 7508 17th 7435 16th 7225 15th PROPERTY COMP ,1 COMP #2 COMP 13 COMP =4 TYPE OF BLDG.: Rambler Rambler Rambler Rambler Rambler STORY HEIGHT: 1 1 1 1 1 1ST FLOOR AREA: 1432 1381 1295 1222 1150 GROSS BLDG. AREA: 1432 1381 1295 1222 1150 YR. OF CONST.: 1960 1957 1955 1955 1957 CONDITION: Good Good Good Good Avg 1ST FL. ROOMS: 5 6 5 5 5 2ND FL. ROOMS: 0 0 0 0 0 BEDROOMS: 3 3 3 2 3 BATHS: 1 1 3/4 1 1 1 HALF BATHS: 1 0 0 1 0 FIN. BSMT. SQ.F7.: 715 690 1000 1000 575 WALKOUT: Yes No No No No FIREPLACE: • 2 2 2 2 2 AIR CONO: Central Central Central None Central GARAGE AREA: 504 Att 440 Det 400 Det 480 Det 528 Det PORCH AREA: None None 224 Deck None 252 Deck LOT SIZE: 105x85 60x132 72x133 60x133 78x157 Cul De Sac COMPS-SALE DATA: SALE DATE 9/91 5/90 6/90 4/91 SALE PRICE 110,000 107,500 97,200 92,900, SALE/SQ.FT. 79.65 83.01 79.54. 80.78 SUBJECT - ASSESSMENT DATA 1992 ASSESSMENT 109,800 ASSESSMENT/SQ.FT. 76.67 REMARKS : C COMPARABLE #1 7125 16th Avenue South COMPARABLE #3 7435 16th Avenue South COMPARABLE #2 7508 17th Avenue South 0 COMPARABLE #4 7225 15th Avenue South r -71 COMPARABLE #1 6928 Knox Avenue South s., Y ? - COMPARABLE #3 6438 Newton Avenue South r...s. rig COMPARABLE #2 6444 Humboldt Avenue South COMPARABLE #4 6612 Humboldt Avenue South GRID - COMPARABLE DATA APPLICANT'S NAME: Jane Conway ADDRESS: 7021 Oliver Avenue South PROPERTY ADDRESS: 7021 Oliver Avenue South • P.I.D. #: 33-028-24-22-0049 MUNIC: Richfield SUBJECT 6928 Knox 6444 Humboldt 6438 Newton 6612 Humboldt PROPERTY COMP #1 COMP #2 COMP #3 COMP =4 TYPE OF BLDG.: Expansion Expansion Expansion Expansion Expansion STORY HEIGHT: 1.25 1.25 1.25 1.25 1.25 1ST FLOOR AREA: 1060 907 1330 857 975 GROSS BLDG. AREA: 1268 1124 1592 1057 1199 YR. OF CONST.: 1948 1950 1946 1952 1940 CONDITION: Average Average Average Average Average 1 S T FL. ROOMS: 5 5 6 5 5 2ND FL. ROOMS: 2 2 2 1 1 BEDROOMS: 3 3 4 3 3 BATHS: 1 1 1 3/4 1 1 , HALF BATHS: 0 0 0 0 1 FIN. BSMT. SQ.F7.: 570 270 530 430 290 WALKOUT: No No No No No • FIREPLACE: 1 2 1 1 , 1 AIR COND: Yes Yes Yes No Yes GARAGE AREA: 288 Att. 528 Det. 322 Att. 352 Det. 240 Att. PORCH AREA: 301 Glazed 156 Glazed No 404 Deck 144 Glazed LOT SIZE: 74x135 66x135 60xl35 60xl35 75x135 COMPS-SALE DATA: SALE DATE 8/91 8/91 4/91 12/91 4/91 SALE PRICE 99,000 110,000 108,000 96,500 92,000 SALE/SQ.FT. 78.07 97.86 67.83 91.29 76.73 SUBJECT - ASSESSMENT DATA 1992 ASSESSMENT .96,500 ASSESSMENT/SQ.FT. 76.10 REMARKS: Comparables #2 and #3 have remodeled kitchens. Subject's basement finish poor quality. • • k F -• E SUBJECT PROPERTY( Address 7021 Oliver Avenue South PID 33-028-24-22-0049 Story Height 1 i Story Baths 1 Full • 1st Floor Area 1060 Sq. Ft. Baths None Gross Building A rea 1268 Sq. Ft. Finished Basement 570 Sq. Ft. Year Built 1948 Walkout No Condition Average Fireplace 1 1st Floor Rooms Living room, dining Air Conditioning Central room, kitchen, family room, bedroom Garage l car attached 2nd Floor Rooms 2 bedrooms Porches/Deck 301 sq. ft. glazed porch Bedrooms 3 Lot Size 74 x 135 Comments: Basement finish poor quality.