2. Tax Equalizatn Bd reconvened - Laserfiche WebLink

501 23 Street South, Fargo Parcel Number 0740-29400 Me. Bauske' s property value increase was a result of a reappraisal conducted for the 2004 taxable year. His current year value is $145,800. Following is a grid of the recent sales of similar properties: 2846 1 ST N 3Q::MClY::9? . 1972 1920 131 68 3121 EDGEWOOD DR 24::$eP::9? 1972 1500 . 120,000 80 3113 EDGEWOOD DR 26-Jul-02 1971 1666 1~5,00O 81 2956 3 ST N 24-Mar-03 1967 1532 117,500 77 24530 AVE N 26-Jun-03 1969 1730 151,100 87 2833 1 ST N .... 94::$~p::93, 1972 1662 J~9,900. 96 2917 2 ST N . . ..1~::AlJ9::Q~ :. 1968 2072 . 1~?,QOO 76 230 FOREST AVE 12-Dec-03 . 1971 1440 . 1~~,~9q 106 30132STN 18-Jul-03 1974 1842 m161,10q 87 3020 ELM ST 18-Jul-03 1973 1818 14~Aqq 82 3122 EDGEWOOD DR 20-Feb-04 1972 1500 150,600 100 AVERAGE 1698 144,082 86 SUBJECT PROPERTY Year Total Address Built Size Baths Value $/SF 501 23 Street S 1971 1776 2 145,800 82 Me. Bauske's property is unique in the respect that in the area where it is located the age of residential properties are older and smaller. His particular location has commercial property located to the south and east. Add to those features a large corner lot and a 1200 square foot steel shed it makes the comparison of Mr. Bauske's property to comparables very difficult. The best approach to use is to compare to similar properties without the extra features and then make allowances for inferior location, larger lot, and steel building. The total value of$145,800 does make those adjustments. As you can tell in the above grid the average selling price of similar houses is $144,082 or $86 per square foot. Though Mr. Bauske's value is close to the averages it was arrived at by adding for the large lot and the steel building but subtracting for the area. ASSESSMENT DEPARTMENT RECOMMENDATION Retain the current value of$145,800 on the property.