2. Abatement hearing-Snelgrove - Laserfiche WebLink

INVESTIGATION OF ABATEMENT APPLICATION ABATEMENT NO. 4321 Following is a report on the investigation of the abatement application of: Francis Snelgrove Cass County Board of Commissioners and State Tax Commissioner: Fran Snelgrove is appealing the assessment on a residential property, located at 5 51 Wall Ave, Stanley Twp, near the City of Horace. Mr. Snelgrove is asking that the 2007 assessment of $228,500 be lowered to the purchase price of $111,825. The Stanley Township Board of Supervisors held a hearing on the appeal and recommended that the assessment on the two parcels comprising the residence be set at $135,000. According to the listing information, the 1 Yz story residence was built in 1953 , and contains 1,700 sq ft with 4 bedrooms and 1 Yz baths. The basement is poured concrete and there is also a two stall garage. The residence is situated on a two acre river lot. Mr. Snelgrove, the real estate listing agent, placed the bank owned property on the market in June, 2007 for $135,450. The property was offered "as is". The listing indicated that it was unknown if the well worked and that the plumbing had frozen. The price was later reduced to $124,250. The applicant then purchased the property in Aug/Sept 2007. Prior to default to the bank in May, 2007, the property was listed at $159,900 for most of2006. It appears that the property did not sell at that price because it showed poorly, due to the interior being run down and that the well was in poor repair. I have reviewed the information that was provided by the applicant and did meet with Mr. Snelgrove at the property. In early 2008, the applicant stripped the interior down to the studs and is currently renovating it. He is also in the process of hooking up to rural water. Previously, the Cass County Board of Equalization set the February 15\ 2008 total valuation at $120,000. It appears that property may have been liveable February 15\ 2007 if the plumbing and well were repaired and the interior redecorated. It appears that the current assessment of $228,500 is excessive, based on the apparent condition of the property as of the February 1st, 2007 assessment date. It also appears that the bank was motivated to dispose of the property. Considering all factors, including the recommendation of Stanley Twp, it is my recommendation to set the assessment at $135,000 for the year 2007 assessment. Suggested Motion: "I move that the Abatement #4321 be lowered to $135,000; as recommended by Stanley Twp and the Director of Equalization." Dated July 11, 2008 c;/~ :K~ Frank Klein Director of Tax Equalization