2. Tax Equalizatn Bd reconvened - Laserfiche WebLink

B& H Investment Appeal (Phil Buhr) Mr. Buhr ofB&H Investments has appealed his assessment in writing (see letter dated May 6th, 2004) on his commercial property and two vacant lots located in Dakota Plaza Addition, Stanley Twp. Mr. Buhr states that the lot value assessments are inequitable. Mr. Buhr further states that other commercial property along the south side of 52nd Ave is low compared to his property. He lists two properties that appear low. He has also attached other tax information that is on file with the Commission Secretary. I did review the assessment of commercial lots and structures in the affected subdivisions. As indicated earlier, I did advise the Board of Equalization to raise the assessment on nine commercial properties. The Jobber's Moving and Storage building valuation mentioned by Mr. Buhr had already been raised for 2004 from $438,700 to $888,200. I also reviewed the commercial lot assessments in the affected areas. For 2004, the local assessor raised the assessment on numerous lots. I've attached a spreadsheet showing the 2004 lot values per sq ft (last column) in the Austin's and Dakota Plaza addition. It would appear that the vacant lots (those listed at the bottom of the spreadsheet) are assessed somewhat less than lots with structures. This appears logical because flood regulations require these lots to be built up about 2.5' prior to construction. Also, it would seem that numerous factors other than lot size should be considered in the valuation of the lots. In addition to meeting flood plain elevation requirements, some of the lots are irregular in shape and some have access restrictions and easements. Also, now it appears that new construction requires the use of holding tanks, versus drain fields. Some of the bigger lots may now be oversized and under utilized. This appears evident by the recent subdividing of Lot 1 Austin's Subdivision into Dakota Plaza Addition, containing four lots. It's my opinion that the vacant lot values are acceptable. The taxpayer's vacant lots appear to be assessed fairly with the other vacant lots. In regards to the lot valuation on which the commercial structure is situated, it's my opinion that the lot value may be somewhat high relative to other lot valuations that contain structures. All factors considered, it is my recommendation to lower the lot valuation to $45,000. Suggested Motion: "I move that the commercial lot assessment on Lot 2 Block 1 Dakota Plaza Addition be lowered from $55,500 to $45,000 for 2004."