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INVESTIGATION OF ABATEMENT APPLICATION <br /> <br />ABATEMENT NO. 4238 <br /> <br />Following is a report on the investigation of the abatement application of: Michael R. Leier <br /> <br />Cass County Board of Commissioners and State Tax Commissioner: <br /> <br />The applicant is asking that the 2002 valuation be reduced from $167,000 to $155,000 on his resideflce <br />located at 6320 17th St N, Highland Park Addition, Reed Twp. <br /> <br />Mr. Leier indicates that the contract price of the property was $135,000 in October, 1994. The <br />applicant also indicates that a recent appraisal estimated the market value to be $165,000. <br /> <br />Mr. Leier also states that a similar home on 5 acres with a 40x60 storage building recently sold for <br />$159,000. The applicant mentions that the bi-level across the street with a swimming pool, hot tub, <br />and deck did not sell for 5 months and was pulled off the market and sold privately. <br /> <br />The Reed Twp Board denied his request due to lack of documentation showing that the assessment is <br />excessive. <br /> <br />I did visit the property and reviewed the appraisal supplied by Mr. Leier. The bi-level home was built <br />in 1994 and has about 1,400 sq ft on the main floor and 1,365 sq ft on the lower level. There are 3 <br />bedrooms and 2 baths on the main level and the lower level is about 90% finished. There's also an <br />attached triple stall garage and deck. The home is avg-good quality and is in good condition. <br /> <br />In reviewing the properties mentioned in the application, the five acre property has an inferior location. <br />The neighboring property with the pool is also inferior in size and the back yard abuts Cty Rd #31. <br /> <br />After visiting the property and reviewing the appraisal and sales in the area, there is no indication that <br />the property is overvalued. The mortgage appraisal and assessment value conclusions are similar. In <br />North Dakota, the standard is full market value for residential assessments. There is insufficient <br />information to overturn the assessment as determined by the local assessor and local board. <br /> <br />SUGGESTED MOTION: "I move that Abatement #4238 be denied, as recommended by the <br />Reed Twp. Board and Director of Equalization." <br /> <br />Dated this 1st day of July, 2003. <br /> <br />Frank Klein <br />Director of Tax Equalization <br /> <br />j :\tax\wp\abate <br /> <br /> <br />