4. Tax Equalization Board reconvenes

6-2-2007 HECEIVED CASS CO AUDITOR 2007 JUN LI AI~ 9 27 Assessor's Department City ofWe~t Fargo I have left approximately 10 messages for Mitch Marcusson in order to set up a meeting to review the income and expense numbers on my rental property at 2322 Meadow Ridge Parkway in West Fargo. (12 plex) , I have left these messages with Shane Marcusson each and every time, and was assured by Shane that Mitch would be handling this, and he would contact me right away. As of today, I have not had any response whatsoever from Mitch Marcusson. I was in your office on April 9 and dropped off my information for you to use in re- consideration of the new assessed value of my property. I was informed that a meeting with Mr. Marcusson was necessary before the next meeting, in order to attempt to arrive at a mutually agreed upon value. It has been impossible to do this because of a lack of cooperation from Mr. Marcusson, as it is obvious he does not return messages. I have 20 years of experience in real estate as a Savings & Loan mortgage loan officer, and 15 years of experience in owning a property management company. I understand how to compute the value of a rental property according to the income approach. I have enclosed a spread sheet with the last 4 years of income and expense data for my property. As you can see, using a 10% cap rate, the value of this property is far below the current assessed value of $298,000. This is my formal protest to leave the current value in place or even reduce it slightly, as I originally reqllested to Mr. Marcusson. I would also request you provide me with an answer as to why Mr. Marcusson is allowed to remain in his position if this is how the taxpayers of this city/county are treated. I wil1 be out of town the afternoon of June 4, 2007 for business and am unable to attend the next meeting regarding this. I would be available on my cell phone at 701-219-6120. Sincerely, IZ O~ Ron Odegaard P.O. Box 3164 Fargo, ND 58108 CC: Cass County Board of Equalization