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<br />.._.." JU~"-06-2_q~7W~p 1?":."~"8 p~"C ITY OF WEST FARGO <br /> <br />FAX NO. 4335319 <br /> <br />P. 02 <br /> <br /> <br />Assessor's Department <br /> <br />WWW.WB5tfargond.gov <br /> <br />Wanda J Wilcox, City MSBsscr <br />Shane MarcLlson, Property Appraiser <br />Paul D Fracassl. Property Appraiser <br />Anthony Larsen, Inlern Appraiser <br /> <br />June 6, 2007 <br /> <br />David Lampl <br />40410th Av NW <br />West Fargo ND 58078 <br /> <br />RE: Valuation of Property at 404 10lh Av NW <br /> <br />Dear Mr. Lampl: <br /> <br />Thank you for taking the time to visit with Frank Klein and myself yesterday. We currently <br />have your home listed as an average quality manufactured home in gOod condition. This <br />opinion did not change after the review of the property. I am attaching several documents to <br />this letter to aid you in understanding the valuation of your property. <br /> <br />First is a ('Residential Cost Approach". This report indicates what the cost new of your property <br />would be and then depreciates down to the condition that the home is in today. This indicates <br />the valuation that we currently have on your home of $70,600. <br /> <br />Secondly is a "Comparable Parcels from Sales Database", This report selects three sales of <br />comparable property and determines what your property would sell for if it were placed on the <br />market. This indicated market value is $71,300. ThIS shows that the market does support the <br />valuation of $70,600. <br /> <br />Next is a "Comparable Parcels from Assesseq Database". This report selects three <br />comparable properties. It determines what a fair and equitable assessment would 'be on your <br />property compared to how three similar properties are assessed. The report shows an <br />indicated assessed value of $73,300. This shows that the current valuation is not over. <br />. I <br />assessed compared to other like properties, <br /> <br />Finally is a "Residential Sales Search" report along with a code sheet to aid in comparison. <br />This report includes homes manufactureq since 1990 and what they have sold for over the last <br />five years. Also for your information, a 1977 manufactured home with 980 sq ft. a double <br />garage and an entry addition on Riverwood Dr sold in 1997 for $54,000 and again in 2005 for <br />$87,970. There is a current listing for a home also on Riverwood Dr for $90,000 on 1,178' sq ft <br />built in 2000 with a double detached garage. <br /> <br />Regarding your question on how this increase will affect your taxes. An estimate of the <br />increase is approximately $245 for the year or $20 per month. <br /> <br />BOO 4th Avenue e;ast . WEIst Fargo, NO 5807B. 701-433-5300 · Fax 701-433-5319 <br />