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RECEIVED <br /> <br /> SiP 2 7 2002 <br />CASS COUNI'~ COMMISSION <br /> <br />ASSESSMENT DEPARTMENT <br /> <br />July 29, 2002 <br /> <br />RECEIVED AND F]LED BY THE BOARD OF OilY <br />COMMISSIONERS ?- :3-J~ oJOJ-U- <br /> <br />Board of City Commissioners <br />City Hall <br />Fargo, ND 58102 <br /> <br />Attached is information relating m Appficafion for Abatement and Settlement of Taxes #4223 & <br />#4224 for the 2002 assessment year on Wal-Mart and Sam's stores filed by Jeam~ie Allen, Region <br />3, Tax Manager. <br /> <br />Wal-Mart and Sam's are each located on flleir own legal descriptions and have unique parcel <br />numbers. Both slnlcturcs are lmge retail stores with similar exterior improvement& This report <br />defends thc value of both propegies with sales and rental informationid~at arc applicable to each. <br /> <br />The 2002 total value on Wal-Mart is $5,940,000. Thc 2002 value on Smn's is $5,795,000. The <br />applicant is asking that the values be rednced to $5,121,000 for Wal-Mart and $4,910,600 for <br />Sam's Club based solely on an income workshcet using a base rent of $5.25 per square foot. <br /> <br />We have inspected the property m~d reviewed all available information. We have accumulated <br />sales, cost, and income data that supports the Assessment Department's assessed value. <br /> <br />Based on the analysis nfthe information and snpport in the tbllowit~g pages, it appears that our <br />current value on Wal-Mart and Sam's ~e reasonable csgmatcs oftbe marke~ value for the 2002 <br />assessment. <br /> <br />SUGGESTED MOTION: <br /> <br />Denial of the abatement applications #4223 & #4224 to lower the 2002 assessment valuation <br />on the Wal-Mart & Sam's Club properties. <br /> <br />404 - 4th Avenue N. ° Fargo, ND 58102 - Phone (701) 2414340 - Fax (701) 241-1339 <br /> <br /> <br />