2. Tax Equalizatn Bd reconvened - Laserfiche WebLink

Recommendation to Raise Commercial Assessments As directed, I did examine the commercial assessments in those subdivisions on the south side of 52nd Ave in Stanley Township. I was able to obtain the sizes of the structures and other pertinent information. I inspected the neighborhood and compared the structures on a value per square foot basis. Most of these commercial properties are steel frame warehouse type properties. It appears that the newly constructed buildings are being valued closer to market and than other properties, causing inequities in the assessment. There may be a number of reasons to explain this situation such as (1) Building permits may have been missed (2) Work may have been performed without permits (3) Land values have increased (4) Costs of construction have increased. In hindsight, it would appear that these properties should have had larger indexing increases and should have been inspected more often. Assessors work under time and budget constraints. The amount of new construction has made it difficult to re-inspect properties. I did visit with the assessor and township clerk and they both indicated that this area is scheduled for reappraisal for 2005. I felt it necessary to increase some assessments to bring these properties closer in line for 2004. I did a cost calculation with the information that was available. I've attached a spreadsheet showing the relative values per square foot of building area after the proposed change in assessment. The properties affected are those listed that have a value under the Change Com Str column (first arrow). The auditor's office did send a Notice ofIntent to Increase form to the ten (10) affected taxpayers. Suggested Motion: "I move that the following commercial structure assessments be increased to the amounts listed below." Parcel Number Proposed 2004 Commercial Structure Assessment 64-1472-00040-020 64-1795-00010-000 64-1472-00010-000 64-1797-00080-000 64-0190-00130-000 64-1795-00030-000 64-1472-00040-010 64-1797-00070-000 64-1797-00060-000 64-0190-00110-000 $219,600 $297,200 $361,800 $192,200 $610,000 $428,500 $631,800 $162,000 $156,300 $438,400