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INVESTIGATION OF ABATEMENT APPLICATION ABATEMENT NO's 4275, 4276, 4277, 4278, 4279 Following is a report on the investigation of the abatement applications of: Ron Killoran, representing Buffalo Farm Supply & Killoran Partnership Cass County Board of Commissioners and State Tax Commissioner: Ron Killoran is asking that the valuation on the three elevator properties located at Buffalo, ND be reduced for prior years. The local governing bodies (Buffalo City & Tower Twp) recommended approval of the abatements. The current assessments on these properties had already been reduced for the current 2005 assessment. Abatement #4275 involves an older elevator complex in Buffalo City and Mr. Killoran is asking that the valuation for 2003 be reduced from $371,500 to $160,000. The property sold at auction for about $140,000 excluding the land. Wear and tear and changing grain economics have caused a decrease in value to this complex. Abatements #4276 and 4277 involve a dilapidated elevator in Buffalo City. Mr. Killoran is asking that the valuation be reduced for 2003 and 2004 from $63,300 and $67,300 respectively, to $20,000. The elevator has little or no value and will need to be razed. Abatements #4276 and 4277 involve an elevator complex in Tower Twp, just west of Buffalo City. The operator is asking that the valuation be reduced for 2003 and 2004 from $556,900 and $417,000 respectively, to $292,000. This elevator complex has also suffered from wear and tear and changing grain economics, causing a loss in value. I have reviewed the assessments and have viewed the properties. I concur with the local assessor and local jurisdictions that the requested reduction in assessments is warranted. SUGGESTED MOTION: "I move that Abatement No's 4275,4276,4277,4278, & 4279 be approved, as recommended by the Director of Equalization and the local jurisdications." Dated this 27th day of October, 2005. :f~ :k~ Frank Klein Director of Tax Equalization j:\tax\wp\abate