07-07-2014 - Laserfiche WebLink

Commission Minutes—July 7, 2014 4320 a 6.5% difference in value of the city assessment and the mortgage appraisal. He recommends the assessment be upheld and if aggrieved, advises the owner to appeal to the State Board of Equalization or file an abatement of taxes. Ben Hushka, Fargo City Assessor, was present. The property was part of a reappraisal conducted this past year with all properties physically inspected and new appraisals calculated. He discussed the reappraisal process and said the models used a market- based cost approach. He said 44 properties were classified as similar to the subject property regarding story height, neighborhood and construction quality, and were priced using the same cost model. Mr. Peterson drove through the neighborhood and said as long as the values are equally elevated compared to this property, he does not object to the recommendation. Lynn Harrie was present. She said her entire neighborhood was just reassessed. Since the last meeting, she met with a realtor and was told she could put her house on the market at $310,000, and she referred to the professional appraisal done valuing her home at $302,000. Ms. Harrie said two independent professionals say that her house should be valued less than the city recommendation, and she said the value does not seem fair and equitable. Mrs. Scherling questioned why comparable properties with more square footage and additional amenities are valued less than the subject property. Mr. Hushka distributed the list of the 44 similar properties used in the reappraisal. He said the average value of the properties is $323,011 or $132 per square foot. The value of $323,000 on this property is $125 per square foot. MOTION, failed Mr. Vanyo moved and Mr. Peterson seconded that the Lynn Harrie assessment be upheld as recommended by the Fargo City Assessor and County Director of Equalization. Discussion: Mr. Bennett discussed the range in square footage of the 44 properties used in the cost model by Fargo. Mrs. Scherling understands the frustration of Ms. Harrie as similar properties with more amenities are valued quite a bit less than her property. She said values should be fair and equitable and this particular value does not appear equitable. Mr. Pawluk said he will not be voting in favor of the motion because he feels the owner has provided a good argument showing discrepancies in values. Mr. Pawluk would support a value of $302,000. On roll call vote, the motion failed with Mr. Vanyo and Mr. Peterson voting "Yes"; and Mrs. Scherling, Mr. Bennett and Mr. Pawluk voting "No". MOTION, passed Mrs. Scherling moved and Mr. Bennett seconded to set the value at $302,000 for property located at 3326 11th Street South in Fargo owned by Lynn Harrie. On roll call vote, the motion carried with Mrs. Scherling, Mr. Bennett and Mr. Pawluk voting "Yes"; and Mr. Vanyo and Mr. Peterson voting "No."