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q~Y OF <br /> <br />ASSESSMENT DEPARTMENT <br /> <br />November 4, 2003 <br /> <br />Board of City Commissioners <br />City Hall <br />Fargo, ND 58102 <br /> <br />":C. IV D AND FILED BYTHE BOABD OF Ci, <br /> <br />COMMISSIONERS .... //-/0--0 3 <br /> <br />Dear Commissioners: <br /> <br />Attached is information relating to Application for Abatement and Settlement of Taxes #4239 for <br />the 2003 assessment year for the property at 498 25 St. S. filed by Wayne L. & Virginia C. <br />Miller. <br /> <br />The property was purchased by the Millers in July of 2003. The amount of $100,000 stated on the <br />application is less than the amount certified to the State Board of Equalization. Also, there was a <br />prior sale of the property in 2001 for a price of $125,000. The valuation by the Assessment <br />Department under appeal is $86,000. <br /> <br />The applicant states that the property is run down and will be used as residential. The property <br />has had recent remodeling and updates and appears in generally good condition. Also, a letter <br />from the Fargo Planning Department is included in this packet. It states that under the current <br />zoning, the property cannot be used as residential without being granted a conditional use permit. <br /> <br />We have reviewed all available information and applied a cost and income analysis consistent <br />with methods and procedures applied to all similar properties in the city. <br /> <br />Based on the analysis of the information and support in the following pages, it appears that our <br />current value on this property is a reasonable estimate of the market value for the 2003 <br />assessment. <br /> <br />SUGGESTED MOTION: <br /> <br />Denial of the abatement application #4239 to lower the 2003 assessment valuation on the <br />498 25 St. S. <br /> <br />sessor <br /> <br />404 - 4th Avenue N. · Fargo, ND 58102 · Phone (701) 241-1340 · Fax (701) 241-1339 <br /> <br /> <br />