2. Tax Equalizatn Bd reconvened - Laserfiche WebLink

plfl~)rV Appeal of Maynard Residence at 1421 55th Ave South, Fargo Attached is a recommendation from the Fargo Assessment Department recommending retaining the current value on the property. After visiting the property and reviewing the taxpayer's concerns, I also concur with that recommendation. First, there was a question on the size of the house. The house plans indicated a total living area of2,055 sq ft and the assessor's sketch showed 2,102 sq ft. My calculation indicates that there is about 2,104 sq ft of living area. The taxpayer also inquired why bi-Ievel homes were not used as comparable sales. Normally, appraisers avoid comparing the two because of the necessity to adjust for the lack ofa basement in the bi-Ievel, as compared to a split-level w/basement (4-1evel split). Also, the questions regarding adjustments and the choice of various sales arose. Normally, bank fee appraisers must use sales that are no older than one year, even if they are not the best sales. Also, if adjustments exceed certain limits, the appraisal is rejected. Sometimes these conditions place a constraint on the choice of sales. It doesn't necessarily mean that the appraiser's or the assessor's choice of sales are superior or inferior. It's just that the appraisal is being developed for two different functions. Regardless, both the bank fee appraisal and assessment values are similar. The taxpayer has not shown that the assessment exceeds market value. Therefore, it is my recommendation to retain the assessment as equalized by the City of Fargo Board of Equalization. Suggested Motion: "I move that the assessment of 1421 55th Ave S, Fargo be retained, as equalized by the City of Fargoftnd as recommended by the Director of Eq ualization."