2. Abatement hrg/Wayne Miller - Laserfiche WebLink

Conclusions and Final Recommendation The applicant states that one reason the value should be reduced is because the building is run down. The property is, in fact, in good condition due to fairly extensive renovation in recent years. Another reason the applicant gives to support a value reduction is that the property has been converted back and will be used as residential. The attached letter form the Fargo Planning Department indicates that the property is zoned "General Commercial" that only allows a residential use with a "Conditional Use Permit" granted by the Planning Commission. The property has no such permit and has not had residential use for over one year. The applicant requests the value to be reduced to $55,000 and states the estimate of market value at $65,000. The applicant provides no data, documentation, or proof of reasonable methodology or process as to how the values stated on the application were arrived at. Two recent sales of the subject property are for much more than the current assessment. The property sold in September of 2001 for $125,000. The applicant acquired the property in July of 2003. The applicant states on the abatement application that the sale price was $100,000 and attributes $20,000 of that to "personal property" but provides no accounting of that breakdown. Also, the amount certified to the State Board of Equalization was more than that stated on the application. (That information is considered confidential under state law so, we are unable to divulge the amount.) The value of $86,000 we have the property assessed at was arrived at by the same methods and processes as are applied to other similar properties. No recent sales of similar properties could be found in the market so, our reliance is on our cost approach model and a market based income analysis. RECOMMENDATION Recommend denial to the Cass County Commission of Abatement #4239 for the property owned by Wayne Miller at 498 25th St. S.