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HomeMy WebLinkAbout05/12/1992 TENTATIVE AGENDA BOARD OF REVIEW REGULAR SESSION SHAKOPEE, MINNESOTA MAY 12 , 1992 LOCATION: City Hall Council Chambers 1] Roll Call at 7:00 P.M. by Robert Sweeney, 1991 Chairman 2] Election of Chairman 3] Purpose of Board of Review - by Bob Schmitt 4] Summary of the 1992 Assessments for Shakopee - by Bob Schmitt 5] John Listerud, Parcel #27-932011-0 6] Dennis Fetzer, Parcel #27-913006-0 7] Mark Casey, Parcel #27-131074-0 8] Ray Friedges, Parcel #27-092036-0 9] Total Minnesota Inc. , Parcel #27-001143-0 10] Clete Link, Parcel #'s 27-121001-0, 27-121-011, 27-121012-0, 27-121013-0, 27-121016-0, 27-121017-0, 27-121026-0, 27-121027-0, 27-121028-0, 27-121029-0 11] Gregg Weigold, Parcel #27-929014-0 12] Reed Otterblad, Parcel #27-913030-0 13] Jim O'Leary, Parcel #27-052024-0 14] Sherman Thurmer, Parcel #27-017051-0 15] Members of the audience: a] b] c] d] e] f] g] Board of Review May 12, 1992 Page -2- OR 8] Close the Board of Review 8] Continue the Board of Review to May 18, 1992 at 7: 00 P.M. 9] Move that the findings of 9] Adjourn the Board of Review be approved and sent to the County Auditor for certification 10] Adjourn Dennis R. Kraft City Administrator City of Shakopee Board of Review The Board of Review will address objections to the property class and/or the market value as of January 2nd of this year. The Board does not determine TAXES and may not entertain such objections. The Board's powers are limited to correcting the property class and/or the market value as of January 2nd in the year in which the Board meets, and the Board has no jurisdiction to correct assessments made in previous years. The owner is responsible for presenting evidence to the Board as to why the property class and/or the market value determined by the assessor is not fair and equitable. PLEASE SPEAK CLEARLY, the meeting is being recorded. The Board has the authority to decrease, sustain, or Increase the market value. The owner will be notified by mall within 20 days of the Board's decision concerning the appeal. Subsequent appeal procedures Include the County Board of Equalization and the Minnesota Tax Court. Refer to the reverse side of your valuation notice for additional information regarding these appeal methods. b/90 /bt T 1 DON D. MARTIN I SCOTT COUNTY ASSESSOR COURTHOUSE 112 428 S. HOLMES ST. SHAKOPEE, MN 55379-1381 (612) 496-8115 Deputy: LEROY T.ARNOLDI To: The 1992 Shakopee Board ob Review May 12, 1992 A SUMMARY OF THE 1992 ASSESSMENT OF SHAKOPEE The 1992 atJsessmen.t £on the city o Shakopee was begun on Sep.tembe& 9, 1991 and the value catcuJati.on4 wetce compLe.ted on ApAit 20, 1992. The work .LnvoLved the inspection o£ .taxable st'tac tuAes £oA which buLed.ing pewits wetce ,issued dwtLng 1991 . These totaL[ed 424 stems, ob which 124 were new AezidentLat homes, 86 were commeAciat/indurtA,i.at ztAuctu&es, and .the Aema,Lnde& were ,ctemn such as Gahm buiedLngs, decks, b,JtepLaces, ganage-o, etc. The 25% neazsessmen.t involved the a&ea o£ .the city bonden:ed by Spenceh. S.ttceet on the east and Highway 169 on the west, Shakopee Avenue on the north and 13th Avenue on the south. Bazica22y eiitaEti,ng the southwestern quad/ant ob the city and £nvoLv Lng appnox,LmateLy 1000 pance s. Othej ,items involved in the 1992 assessment: 1 . Vacant Lot values wetce increased .to at Least 90% ob theih .true mawket vague due to a change in the State tax Law. This Law cLoo removed the "3 yea& plat Law" which gave deveLope>r-J a Low- etc azzessment on .the Lots in a new peat bon .three yearns oA untie the tot ways sold oA built on. (See enctosu&e) . 2. Policy PA the ctatJsibicatti.on o£ agrcicuetwcat proper-ty in Scott County was changed by the Scott County Board ob Comnizzionvo in conjunction with the Scott County Assessor's O££ice. This new po.e.icy requires any peAson with sole hoLdings which to.tat £nom 10 to 40 ac-'res to provide the assessor with income inbonma.t.i.on proving that the Land was used bon agrci.cuZtwra2 purposes. (See enctosune) . 3. Apahtment pnope/ ty and commetcci.at pAoperrty watt also reassessed PA 1992 on the bazis o£ income in£onmatLon pAov,ided to owc o b bice £nom the ownen-s. This ways done in an attempt to equa2- ize and catcutate vatue3 at a mote accurate and con4Lstent baA-l4 than can be achieved £tam a cost oA even market approach ban these .types ob properties. The most cwvicen-t 'ratio study £tom the State Department o£ Revenue dated March 16, 1992 shows Shakopee .to have a Aeziden i.a-e sates its -i-o az £oL.eow.: Mean Ratio 92.8% [Sales bAom 10/90 .to 9/91 and Median Ratio 92.3% compared to 1992 EMV'S. Total Aggregate Ratio 91 .2% sates = 113] 7tate.d Di - 101 .8 ( tLghtey Aegnesive) . etcen iat Ro ent N. Schmitt, SAMA Senior Appraiser An Equal Opportunity/Afrmative Action Employer Secs. 12 and 14. Three year plat provisions. -:r For taxes payable in 1992 - Only those lots which are sold or upon which construction has begun are eligible for revaluation. This changes previous language that permitted contiguous lots front ng on the same street to also be revalued. Effective for taxes payable in 1992 and thereafter. j For taxes payable in 1993 and thereafter - The requirement to treat platted land as though it were unplatted until the lot is im- proved or for three years, whichever is shorter, is deleted. Platted property will be valued at its market value following final approval of the plat Effective for taxes payable in 1993 and thereafter. Sec. 13. Open space law. If a property is acquired by a political subdivision or the state, the deferred taxes are not imposed if the property is used for a qualifying pur- pose for at least five years following acquisition. Effective the day following final enactment and applies to real property acquired after December 31, 1990. Sec. 15. Joint ownership of homesteaded property. Extends the provision allowing parents to be a co-owner of homesteaded property, when required by a financing agreement, to stepparents, grandparents, siblings, aunts and uncles. The relationship may be by either blood or marriage. (Currently, only parents can be co-owners.) It also deletes the requirement that it only applies to first time purchases. Section 15 also provides for a full homestead treatment for property formerly occupied by two or more related persons, held in joint tenancy or tenancy in common. Applies only to parent/stepparent and children/stepchildren relationships. Only single family residential property is eligible. Effective for taxes payable in 1992 and thereafter. Sec. 16. Leasehold cooperatives. Restricts leasehold cooperatives from receiving homestead benefits only to those which have received public financing. Effective for taxes payable in 1992 and thereafter. Sec. 17. Homestead determination (Mid-year). Requires the assessor to extend a full homestead classification to a property that is partially homesteaded on January 2 but is fully homesteaded on June 1. Effective for taxes payable in 1992 and thereafter. 3 Sec. 22. Residential Non-homestead 4c. • Restructures the language in class 4c (Title II and MHFA Low-income apart- ments). These changes are necessary since the market value treatment in section 55 based on actual restricted rents does not apply to all of class 4c, therefore the property types within class 4c needed to be separated. • Clarifies that a housing that qualifies for but does not receive the Section 42, federal low-income housing credit must either be publicly subsidized other than via TIF to meet the requirements of newly codified section 273.1317. Effective for taxes payable in 1992 and thereafter. Sec. 22. Residential Non-homestead 4d. Two types of property have been added to class 4d (low-income housing): Property leased by an occupant under the community lending model lease-purchase mortgage loan program; Federally-acquired buildings (HUD homes) leased to non-profit corporations for pur- poses of transitional housing for homeless persons. Effective for taxes payable in 1992. 1993, 1994 only. Secs. 23 and 25. Vacant land. Vacant land classification is eliminated. Vacant land is to be classified and assessed according to its highest and best use per- mitted under the local zoning ordinance or its most likely potential use. Effective for taxes payable in 1993 and thereafter. Sec. 26. Low-income housing. Under Section 42 of the Internal Revenue Code low- income housing credit eligible property must: (1) either reserve (a) 20 percent of their units for residents with income of 50 percent or less of the area median income, or (b) 40 percent of their units for residents with 60 percent or less of the area median income; (2) limit rent on the low-income units to 30 percent of the tenants income, and (3) be either new or substantially rehabilitated. 5 BOARD CF COUNTY COMMISSIONERS SCOTT T COUNTY, MINNESOTA ?ace 1 of 2 Date March 31 , 1992 Resolution No. 92022 Motion by Commissioner Mertz -by Commissioner VnGerf ern RESOLUTION NO. 92022; ESTABLISHING THE AGRICULTURAL CLASSIFICATION POLICY( IN SCOTT COUNTY WHEREAS, the method and policy by which property in Scott County consisting cf ten acres or more was classified for ad valorem property tax purposes is of concern to the Board of Cor,miss_oners and citizens of Scott County; and WHEREAS, it has been determined that a clarification of the agricultural classification assessment policy would benefit Scott County citizens in determining the likely tax classification of real property purchased or owned within Scott County; and WHEREAS, clarification of the basis by which orocerty will be granted agricultural classification will assist the Scott County Assessor in his statutory obligations. NOW THEREFORE, BE IT RESOLVED by the Board of Commissioners in and for the County of Scott, Minnesota, that the Scott County Agricultural Tax Classification Assessment policy shall be as follows: I. For real property owned within Scott County to be granted the agricultural classification, the primary and Principal use of the property shall be the pursuit of agricultural activity. YES NO Koniarski Koniarski Bohnsack Bohnsack • Mertz Mertz Underferth Underferth Mackie Mackie State of Minnesota County of Scott SS' I.Joseph F.Ries,duly appointed, qualified and acing County Administrator for the County of Scott,State of Minnesota, do hereby cersfy that i have compared the foregoing copy of a with the original minutes of the proceedings of the Board of County Commissioners.Scott County.Minnesota.at their session heid on Lite day cf , 19 ,now on file in my office,and have found the same to be a true and correct copy hereof. Witness my hand and cffical seal at Shakopee, Minnesota, this day of . Cao::y Ac.-ir.is::a:ar By 0101C-20C4 Ac.—::s ra.o.s Ces:sree BOARD OF COUNTY COMMISSIONERS SCOTT COUNTY, MINNESOTA Page 2 of 2 Date ` rch 31 r 1992 Resolution No. 92022 Mction by Commissioner Me`-2 Seconded by Commissioner Underferth 2. For property consisting of less than 40 acres, the rebuttal presumption shall be that the property is not in agricultural use. (i.e. , it shall be classified "residential" or "other") . 3. For a parcel of real property of less than 40 acres to be granted agricultural classification, evidence that the primary and principal use of the property is agricultural shall be provided to the Office of the Scott County Assessor prior to May 1st in the year prior to which taxes are payable. For instance, evidence that the property earned at least $300.00 plus $10.00 per tillable acre would be strongly considered in any determination that the use of the property is agricultural. A copy of the appropriate state or federal income -tax farm income schedule (e.g. schedule F) should be provided. Such information will be cross-referenced with state and federal taxing authorities for verification purposes. BE IT FURTHER RESOLVED, that a copy of this Resolution and the Assessment Notification shall be provided to all parcels subject to change as a result of the implementation of this revised policy for the tax year payable 1993 . YES NO Kcniarski { Koniarski Bchnsack X Bchnsack Mertz X Mer Underferth Underferth Mackie X Mackie State of Minnesota County of Scott ss. I,Joseph F.Ries,duly appointed, qualified and acting County Administtator for the County of Scott,State of Minnesota, do hereby certify that I have compared the fcregoing copy of a resolution with the original minutes of the proceedings of the Board of County Commissioners,Scott County,Minnesota,at their session held on the 31St day of :• March , 19 92 .now on file in my office,and have found the same to be a rue and correct copy thereof. Witness my hand and official seal at Shakopee,Minnesota, this 1 s z day of =ter'l. 1992 P/1/ C-tturny A iris?a'.r By 01010-2004 Ac cis;ra:ors Ces:sree DON D. MARTIN SCOTT COUNTY ASSESSOR COURTHOUSE 112 • y 2 y 428 S. HOLMES ST. SHAKOPEE, MN 55379-1381 (612) 496-8115 Deputy: LEROY T.ARNOLD, To: The 1992 Shakopee Board oti Review Date: Subject: John & Diane Listerud property at 3876 Marschall Road, Shakopee, MN 55379 Ducitipt_Lon o6 P,topenty: 10 acres in Section 32, Township 115, Range 22. Parcce.2 #27 932 011 0 1992 Valuation In6otma .4.on: Land $41,000 Bldgs. $75,800- Total assessed value of $116,800. Because their total assessed value actually dropped this year we are assuming that they are contesting the classification change as indicated below. O ho.,a In6o.7mati.on: The Listerud's are contesting the change in classification of their property from agricultural homestead to residential homestead. This change was made in accordance with the recently passed Resolution #92022 (copy attached) . To date the Listerud's have not submitted any documentation which would entitle then to retain the agricultural classification under this Resolution_adopted by the Scott County Commissioners. An Equal Opportunity 1Affirmatiue Action Employer DON D. MARTIN SCOTT COUNTY ASSESSOR " COURTHOUSE 112 • 4� . " =' 428 S. HOLMES ST. SHAKOPEE, MN 55379-1381 (612) 496-8115 Deputy: LEROY T.ARNOLDI To: The 1992 Shakopee 8oan.d o5 Rev-Lew Date: Subject: Dennis & Kay Fetzer property at 1850 Co. Rd. 18, Shakopee, MN 55379 Dezchi.pti.on o6 Pnopeltty: 2.50 acres in Section 13, Township 115, Range 22. 27 913 006 0 1992 Vatuati.on Insonmati,on: Land $27,100 Bldgs. $120,300-Total assessed value of $147,400. The house is a 1 3/4 story build in 1940 and remodeled in 1977. Foundation sq. ft. measures 799 with 506 sq. ft. attached garage. Extras include central air, 12 X 36 deck, 450 sq. ft. basement finish with a full bath and a 3/4 bath. Othe t. In6ortma io'i: In 1989 a wood side shed with a metal gable roof was constructed. It is a 5,500 sq. ft. structure of 2 X 6 construction with concrete floor. There is also a 940 sq. ft. loading dock attached which was built in 1990. The shed was considered 80% complete for the 1992 assessment. The assessed value is at $53,700 for 1992 on the shed and $5,500 on the loading dock. An Equal Opportunity/Afrmatiue Action Employer May 8, 1992 Bob Schmitt Scott County Assessor Courthouse 112 Shakopee, MN 55379-1381 RE: Parcel 27-913006-0 Dear Mr. Schmitt: This is to follow up our conversation of Friday, May 8, 1992 regarding the market value of our residence. I would like you to review the tax rate for our property for the following reason. In the process of refinancing our home, parcel number above, the appraised value for the property, home, and building has been assessed at$107,000. However, the assessed value for 1992 is $144,000 and the assessed value for 1993 is $147,400. There is a difference of$40,000 between the assessed value and the appraised value. The appraiser indicated the building on the property does not add salability but quite the opposite, like adding a swimming pool. The assessed value needs to be brought in line with the appraised value. Based on the appraisal, I am asking for a reduction in our property taxes. A copy of the appraisal is attached. On Tuesday, May 12 we will not be able to attend the meeting in person because of a previous commitment. I hope this letter and attachment will be appropriate. Please advise. The original intend of the building was to be used for a cabinet business. Denny is now working full time at the VA Medical Hospital as a cabinet maker (has been for two years). Sincerely, I Kay L. Fetzer 1850 County Road 18 Shakopee, MN 55379 930 6184 (Office) 445 6184 (Home) Attachment: Appraisal Lui4u UNIFORM RESIDENTIAL APPRAISAL REPORT Flt,.Ne. Fetzer it is to estimate Market Value as defined in the Certification& Statement of Limiting Conditions. . ,_ • ,CH(SHOW GROSS LIVING AREA ABOVE GRADE) ESTIMATED REPRODUCTION COST-NEW-OF IMPROVEMENTS: ^".,.j„*"'''A"• '''r.,'y'o,.'e.00l ''4"`'`ann NvnNach rbmreeenxs n,'t.s'pee Dwelling 1, 319 Sq.Ft.®$ 52. 00=$ 68, 588 L. Level 530Sq.Ft. ®$ 10. 00- 5, 30C 759 sq. ft. 1st Fl. Extras Appl. FP. Air 6, 00C 560 sq. ft. 2nd Fl. Bal. in sq. ft. cost , _ Special Energy Efficient Items - Total 1319, sq. ft. Porches,Patios,etc. Shop/barn 2, 50C _ ` et . . Garage/Carport 484 Sq.Ft. ® $ 12. 00= 5, 80E • - Total Estimated Cost New - $ 88, 19E a • 13 % Physical 1 Functional External ,a co 11 Less ..11-: ADJUSTMENTS IN MARKET Al!:ALYSIS Depreciation 11, 506 0=s 11 , 50C all ,, Depreciated Value of Improvements - $ 76, 69E ol GROSS LIVING AREA @ $20. 00 PER SQ. FT. Site Imp."as is"(driveway,landscaping,etc.) _ $ 3, 00( BASEMENT FINISHING CI $8. 00 PER SQ. FT. ESTIMATED SITE VALUE = $ 30, 00( (If leasehold,show only leasehold value.)Actual 109, 69E M MCATEI VALVE IT CUT APPII$ACN Rounded $ 109, 70( Ion (Not Required by Freddie Mac and Fannie Mae) Construction Warranty n lies 7 No USE Does property conform to applicable HUONA property standards? ®Yes n No Name of Warranty Program PAS W No,explain: Warranty Coverage Expires The lnr uncicvs'rd his recited three recent sales of properties most similar and proximate to subject end has considered these in the market analysis.The description includes a dollz C edjiesMv M,reflecting market reaction to those items of significant nificant variation between the subject andcomparable properties.If a significant item in the Comparable property is super,' to.or more favorable titan, the subject property,a mina, (-)adjustment is made,thus reducing the indicated value d subject;if a significant item in the comparable is inferior t ,f or k,ss favorable than.the subject property,a plus(+1 ad!'stmnnt is made.tai's increasing the indicated value of the subject. ITEM I SUBJECT COMPARABLE Nal COMPARABLE NO.2 COMPARABLE NO.3 ,Apr- a 1850 Co. 6856 Bridle Path 16009 St. Paul Ave 21395 Mushtown Rd. Address Rd_.__ #18 Credit River Prior Lake Spring Lk. Twnshp. Proximity to Subject 1111111 _ 8 miles 4 miles 7 miles )ESC Sales Price $ Ref inane II 1 i $ 110 000 1 11 ID1 $ 104r 900 $ 96, 50( Price/Gross Liv. Area S N/A 0 S 67. 900 111111 1 11111111 $ 70. 690 11111_ 11111 $ 57. 920 [1 Data Source MLS MLS MLS - .I Att VALUE ADJUSTMENTS DESCRIPTION DESCRIPTION +(-)s Miusta,ent DESCRIPTION +l-)i Adius� DESCRIPTION +(-)s Adjustmer 3tYie Sales or Financing Concessions . Cony C/D -1, 000 FHA u r , :d Date of Sale/Time 9/91 149 3/92 75 1/91 49 moons' Location Average Average Average Average (rs.) , SiteNiew 2. 4 Acres 5 Acres. Av4 -4, 000 . 4 acre/Ave +2, 000 4. 8 ac/Ave ; -4, 00( Iva P Design and Appeal 2 story 2 story 2 story 2 stor Il - Quality of Construction Average Average I Average Average me- nl Age 15** yrs. 14 yrs 80 yrs +6, 000 90 yrs +7, 50( ;t 1 • Condition Good Good ; Good Average +7, 50( 02 Above Grade Total i 867115 SMRs btal ;Bdmes i Bate Todd ;Berms; Baths ' Total ;Bdrms i Baths '• Room Count 6 '3 ' 1 6 '3 ' 1 6 '3 ' 1 6 '3 ' 1 Gross Living Area 1, 319 •Ft• 1, 620Sq.Ft. : -6, 000 1, 484Sq.Ft. ; -3, 300 1 , 666 Sq. Ft. , -6, 90( ttRFt • Basement & Finished Fam. Rm. Se- Fam. Rm. Bth .lie Roans Belmv Grade 0 sf/fin Open space +4, 200 500 sf/fin Open space +4, 20( ,Nbs Functional Utility i,'wage Similar Similar Similar Tlim Heating/Cooling . . Air/Cntr F. Air/CntrF. Air/None • +1, 500 F. Air/None , +1, 50( Batt . Garage/Carport 2-Garage 2-Garage 2-Garage 3-Garage ; -2, 00( gat Porches,Patio, None None Porch -3, 000 Porch -3, 00( Pools.etc. Shop/Barn Outbldgs. : Outbldgs. Outbldgs. F Special Energy Average Average Average Average Efficient Items I Fireplaces) Fireplace None +3, 000 Fireplace None +3, 00( 011ier (e.g.kitchen Appliances Appliances Appliances Appliances equip..r l"'g) Avera le Average Average Average Net Adj (total) I 1 1 111111 111 0 + -4 -2 800 E + •-Is 2, 200 !, + •-;s 7, 80( of IndicatValue Subject III III 1 I S 107, 200 S 107, 100 I II I I I $ 104, 30( Comments on Sales Comparison: Both sales 2 and 3 have been updated. Limited sales on hobby farm type homes made it necessary to use 1 older sale. Most weight to sale #1 because of less adjustments necessary. INDiCATED VALUE IT SALES COMPARISON APPROACH $ 1 07, 00 C r INDDICATED VALUE Ii INCOME APPROACH(Ii AppiicaUie)Estirr.:!ted Market Rent i N/A !foo. x Gross stent Pajitiptter i1/et - 3 i:/"tt This appraisal is made ( x( "as is"❑subject to the repairs,alterations,inspections or conditions listed below IT completion per plans and specifications. Corrxnents and Conditions of Appraisal- The subject property has not been sold in the last 12 montr anal property and free standing appliances are not valued. Final Reconciliation While the Cost Approach strongly supports the final conclusion, the • - •et Data_Approach is given most weight, as it best indicates the actions c • - ellers in the market place and contains the most reliable data. This appraisal is based upon the above requirements, the certification,contingent and limiting conditions,and Market Value definition that are stated in E-7 FmHA,HUD&/Ix VA instructions. [ Freddie Mac Form 439(Rev 7/86)/Fannie Mae Form 10048 (Rev.7/86) Med with client 19 7 attached. ▪ I (WE) ESTIMATE TME MARIET VALVE. AS DEFRMEI, OF TME SUBJECT PIOPERTT AS OF April 15, 19 92%be$ 107, 00( . I (Wel certify: that to the best of my (our) knowledge and belief the facts and data used herein are true and correct that I (we) personally inspected the subject proper' both inside and out,and have made�1 exterior inspection Jo al comparable sales cited in this report and that I(we)have no undisclosed interest,present or prospective there APPRAiSER(S) / REVIEW APPRAISER Signature /����,- (II app able)Stpnature n Did !Mid Nc Name Robert Loit• IFA Name Mn. #4001281 inspect r. verty_ •addle Mac Form 70 10/86 110 ch.1 131._ACEWOOD BUSINES',rnm,- ' i' ''3.10004 4tak_ - •A.'.{ -. .. .. t T "? i c rTi� f.`• r6tr� 't :Lt...- .. 7c ).' . 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I i` - .-,4:*r!Ohl"' .. r,. -�._'}:1{ - OBE T t 1 Property tr >u &'AOgsls UNIFORM RESIDENTIAL APPRAISAL REPORTFil.NoFF-0-4pr Piop.rty• °`—` 850 ( n Rd t18 Census Tract LENDER DISCRETIONARY USE CitY Shakopee County Scott State Mn Code 55379 Sale Price $ LegalDescription Metes Sr Bounds Date Owner/Occupant Dennis Fe t z e r Map Reference 56-1B Mortgage Amount S Sale Price S Refinance Date of Sale PROPERTY RIGHTS APPRAISED Mortgage Type Loan charges/concessions to be paid by seller S N/A R.E. Taxes S 3138. 00 n Fee Simple Discount Points and Other Concessions Tax mar 1992 HOA S/Mo. 2550 Leasehold Paid by Seller $ Lender/Client Norwest Mortgage Condominium(HUD/VA)i v P r i s �vp. W� S t . u1._Irii_nn fl De Morns PUD Source LOCATION Urban [J Suburban f Rural NEIGHBORHOOD ANALYSIS Good Avg. Fax Poor • BUILT UP Over 75% [ X125-7556 Under 25% Employment Stability ❑ x I GROWTH RATE I Rapid I Stable I X 1 Slow Convenience to Employment IX I Li . PROPERTY VALUES Increasing ( X I Stable Declining Convenience to Shopping I X I I ] DEMAND/SUPPLY Shortage I�X I in Balance Over Supply Convenience to Schools I I x [i MARKETING TIME n rid Under 3 Mos. 3-6 Mos. n Over 6 Mos. Adequacy of Public Transportation X n • PRESENT LAM)USE % LAND USE CHANGE PREDOMINANT SINGLE FAMILY HOUSING Recreation Facilities I X = PRICE Single Family 100 Not Likely X OCCUPANCY s 1 1 Ins Adequacy of Utilities IX • 2-4 Family Likely I Owner 0 Property Compatibility X] mMulti-family In process Tenant n 75 Low 15 Protection from Detrimental Cond. n X ✓ Commercial To: Vacant (0-5%) n 125 HO 50 Pobcet& Fire Protection X yi Industrial Vacant (over 5%) Predominant Generzl Appearance of Properties X Z Vacant 9 0 - 30 _Appe;iI to Market Fl F ] 1-1 (—] Note:Race or the racial composition of the neighborhood are not considered reliable appraisal factors. COMMENTS: Open rolling area between Prior Lake (Co. Rd. #42) and Hiway #101 just about 2 miles south of the Minnesota River. The city of Savage lies 3 miles east of this neighborhood. Dimensions 114x930 Topography Level Site Area 2. 4 acres Comer Lot No Size Average . Zoning Classification Single Fam. Res. Zoning Compliance Conf o r mi nE ape Mst l y Rc t ng l r HIGHEST & BEST USE: Present Use Residential Other Use None Drainage Appears adequate • UTILITIES Public Other SITE IMPROVEMENTS Type Public Private View Average �t1 Electricity [ XI 200 amp Sheet Asphalt Lx] Landscaping Typical -y Gas Curb/Gutter Concrete Driveway • Gravel Water We 11 Sidewalk None ❑ Apparent Easements Typical Ut i 1 i t y Sanitary Sewer [ ] Private Street Lights None FEMA Flood Hazard Yes' No X Storm Sewer ]—] Alley None El El FEMA' Map/Zone COMMENTS (Apparent adverse easements,encroachments,special assessments,slide areas,etc.): County plans to widen road in front or take land from rear to service new bridge across river. GENERAL DESCRIPTION EXTERIOR DESCRIPTION FOUNDATION BASEMENT INSULATION Units 1 Foundation Conc. B 1 k. Slab No Area Sq.Ft. 759 Roof 4 Sties 2 Exterior Walls Wood/Brk Crawl Space None %Finished 70 Ceiling X W Type (Det./Att.) Det. Roof Surface Asph. ShnpBasement Full Ceiling Drywall Walls X I a Design(Style) Cape CC Gutters & Dwnspts. Yes Sump Pump No Wags Drywall Floor > Existing _Yes Window Type Dble. HunfDam �pNo Floor Carpeted None mProposed No Storm Sash Yes Settlement Normal i Outside Entry No Adequacy X n a• Under Construction No Screens Yes Infestation No Energy Efficient Items: Age(Yrs.) 15*** Manufactured House No Average Effective Age(Yrs.) 45 - _ ROOMS Foyer Living Dining Kitchen Den Fancily Rm. Rec.Rm. Bedrooms #Baths Landry Other Area Sq.Ft. Basement _ x _ Sewing530 • Level 1Dinet759 x x x x E Level 2 3 1 560 finished area atom grade contains: 6 Rooms; 3 Bedroom(s): 1 Bath(s); 1. 319Square Feet of Gross Living Area SURFACES Materials/Condition HEATING KITCHEN EQUIP. ATTIC MIPROVEMENT ANALYSIS Good Avg. Fu Poor nom Hdw/Cpt Type F. Air Refrigerator None n Quality of Construction X] ❑ ❑ Wags D. Wall/Ave Fuel Qi 1 Range/Oven Stairs f Condition of Improvements I X1 X] ❑ [l fY Trim/Finish Painted Ave Condition Avg. Disposal n Drop Stair n R00mS /Layout I X [ I • Bath Floor Ceramic/Ave AdequacY Avg. Dishwasher I x] Scuttle X Closets and Storage 1 X El Bath Wainscot Ceramic/Ave COOLING Fan/Hood [l Floor n Energy Efficiency I 1Jzkku wia Z Doors Painted Central Yes Compactor Heated n Plumbing-Adequacy & Condition X I ] Formica kit . cbts. Other Vltasher/Dryern Finished [ Electrical-Adequacy U Condition ] xi LJ I I L I Condition tr;irrok eve -1 1 Kitchen Cabinets-Adequacy & Coml. j f.1 [ I I ( I _I Fireplacels) Liv. Rio # 1 Adequacy Intercom (R Compatibility to Neighborhood I ] ® [ ] [ .1 C CAR STORAGE: Garage X Attached n Adequate X House Entry FR Appeal& Marketability ] I XI [ [ ] 5 No. Cars 2 Carport I ] Detached I I Inadequate Outside Entry X Estimated Remaining Economic Life 50 Yrs. 4 Condition Avg. None n Built-In n Electric Door n Basement Entryn Estimated Remaining Physical Life Yrs Additional features: 80x50 detached heated cabt. shop with attached horse barn has riot been sided. Appraised as is with value as limited use per underwriting. *** Property was moved to present site in 1977. y Depreciation(Physical,functional and external inadequacies,repairs needed,modernization,etc.): m Normal physical taken for age and wear. i No functional or external required. 2 VGeneral market conditions and prevalence and impact in subject/market area regarding loan discounts,interest buydowns and concessions: Market rates at this time have been quite steady without the need of special financing. Frrdtlm K'.c Form 70 10/86 (10 ch) - Fannie Mee Form 1004 10/86 v DON D. MARTIN SCOTT COUNTY ASSESSOR COURTHOUSE 112 428 S. HOLMES ST. SHAKOPEE, MN 55379-1381 (612) 496-8115 Deputy: LEROY T.ARNOLD! To: The 1992 Shakopee 8oakd o6 Review Date: Subject: Mark & Bonnie Casey property at 1278 Diamond Court, Shakopee, MN 55379 DescI pti,on o6 PA.opez,ty: 27-5 Hauer's 4th Add'n. Pancet2 #27 131 074 0 1992 Vafuat.Lon Iqojunation: Land $23,200 Bldg. $87,300 (Purchased 4/90 for $116,250) Three level split built in 1990. 1,378 sq. ft. foundation with 746 sq. ft. attached garage. The basement has about 370 sq. ft. finished. Extras include a fireplace, air conditioning and about 60 sq. ft. of brick trim. Total bathroom fixtures are a full bath with an additional 3/4 bath on the basement level. The exterior is wood siding with asphalt shingles. Total assessed value for the 1992 assessment is $110,500. O.then In/onmatton: An Equal Opportunity/Afrmatiue Action Employer • • • • 7• 41 O 11 41 G p ..• � O • ca 0 CO CO 0 n C70 W n :¢ Cr-¢ W N II CO '0 V LI ry m II Ca • . . m m .-I II m ..I a .. 1 H H H J OJ CO J 0. <b P H _ H : H . LU, CONn W - .- W N COI N- t - CO M '� - • La II • . .., n ,, -, w I- w w 111 M u.1 H CU -4 H S • H _ s - ... H 0. I CO I 01I CO CO• , 0 27 J 21 -J 27 J H W 1 H W . - H W -A D. I 0 ] H J 1 H J - - H J i 7 - n 7 CO M S! M 0 M • 11 H 1" II H - 67. - H O 0 0 II m O . - . . - - m .i 0 II i 0. - ' - - I 0, • W P II W 03 W CO . O LS i •.- H d .e ! o -i - © OB CO II CO - CO w H II H e H II H H LL it W -0 • Ii W N • W N ' O 0 0 M I OI m - ': - OI Q 0) U CO - I CO -• CO 1 K w - W • I W - CO 1 O J : Cil I Cil _ N CO CC I ' N 0 H N , I H 0 - H 0 4 iitt W. 0 .!i J O CO M i i-. u ; u r La .-i-i ,1 JJI 1 to f 1I 7 001 I! - 1 I . i 0. L. I N N ' Is • q 1 Ill COi1 I .0I 1 ! ! it • - Iz CO• II a d ' • ! J 01 . a ii Q - . m n II El IO L °I ca it _ , I (N.0-1 VIH tt . (4),-4 .-IO0� .:114,40,-4 u Os -1 a ' n J 0 w II * 1 O w * 1 O 6 W 1 XJ - II * 1 I X XJ * I 1 K XJ N U II I 0, >- - 01 Q COW CO 0 Z H I ~I. O Z - CCz ZH Cl O W Z'-+ .-I • W01 II - I H WM H W07 • • 1 *1 --4 N W^ I W -II W CO to )--E r) I I W Ma CO - - 01 W" . • I *I I SN0)0) II J I 1 - 1 -i OCO I J I SNOIQ I E I N - 1-I II 0 1 N - FSLLQ'-+ 1 W N I-Mc., 1 I I-I N .Qi-W n Q N 61- C4 1 Q C.1 C l-W U - 1 ' CAC w -11 CC f)aw 41 1 CC to a w WN- CO mac u Q < CO - N 0)100 Q CO CO S)00 7I N W EJ W< II d - N - W Z_I COWQ10- CO - EWC 0 I w1 01 Ca • 014)I-1- 11 E G7 M - Ca OJCZSJ I W J E1 01 O- Ca OJ<SJ _ 0 1 7I W - D ' O7\LO tL II 0 • W CO a 0 D'.'(Ail ' 1 OI w - 0. a Q7\OId I . CO1 Ca N I H C LLMU 1-+W II C ' - - H O;r M +W ; U �Y. 00. NM.M.1.111-141I-+ CC 1 to CO G Z 0 II RN 5 -a OOQZ� 1 I I 0 .-4 m u ZCY *1 q w WOQ�M 11 * at W WOQHN I 1'- I *1 @ 41 I ZZILIL 11 * m Li GZZZUL1L 1 1 * 1 411 'W OZZL>_lL I • Iii 0• , • .. m N CD , 0 . 0 m .a - :1 0, - _ . , H J U CU CO 1 P 4 m . , . HN - e. .d�.V.,::.:'..., 1 Q K41'1•;-'v...0. -4 = ' 4$144.-'."^ 41 I- I CO ,a.1 w b z`s q7/- Cil D 4 rr: E...� i1 la G 01 I CJ . O 4) .-. CO CO Ll ▪ Q H '. 4. d W O - ? • U CO (Si W _ , 1 G') - 87 W W W 0 OJ wta m 0 N t)H a ti CC SJ <t -:.i ,�_ c u ei J � . 01 `a g , i CKN • M ' I LO i 1 p sit 7•';'' ''r''�. E.- .,t. .,,,,,,,-,.. .-= i, t Q )>5 i•Cj4'r`n"'x''!;.'.44• }a '�-. W Y `;Y- Y 3 ,jam 14 J QC4-40'-1 I. .. [ C I J I a .t W 0 1 M M Z 1-Z .1 -',.�, • _ _ j O W WI-4 tA .I 41 J .i MCO GII W-• i- 2ti Si N 1-I - ¢ N QF-S4 it 104 W 4: (J7 N {C;Iii 0 I E N 0 m OJQTJ ::,....;‘..e..,,,,,...:.-..... - 0 I 'O 41 0, 7 07\WCL- , NCC I I U 0� N H �YILM.iW I1* G W W OOPZi.�i I- 1- I 1* 43 W FDZZILIL 1 .. i { .�f Y Aas DON D. MARTIN SCOTT COUNTY ASSESSOR COURTHOUSE 112 • • 428 S. HOLMES ST. SHAKOPEE, MN 55379-1381 (612) 496-8115 Deputy: LEROY T.ARNOLDI To: The 1992 Shakopee Boand oti Review Date: May 8, 1992 Subject: Ray Fn.iedge4 pnopenty .located at 820 Pnavri.e Sheet Pcvu e:2 #27 092 036 0 Dezcnip ion o5 Pnopenty: Lot 7 Btoelz 4 Fastv,iew 1zt Addition The tot is t Langulan in Shape and hays appnox,imatety 14,769 squate deet. The home -ins a split-entity eon.stcceeted in 1982 with 1380 4quane deet. The home ha4 an attached gana-ge oti 1066 squahe deet, a iiin zhed batsement area o6 1200 4quane kex, 2 4wU_2 baths, 2 6.viceptace4, eentta,2-aijt- conditioning, a 3 season poach o4 192 4quane kei which was built in 1989. 1992 Valuation 7n5onma.t_on: Lot $27,500 St/meta/Les $80,600 Total $108, 100 The home -ins clasz.i6 ied as ave/cage due to the ahea .in which it Lo .located, (Eastv.iew Addition) which has many twin-homey which .in my opinion would neduee the sale pn.Lee o6 thus pnopehty. The home L "ove,'tbuLU" ion the area .in which it Lo .located. Other- In�ntrmr. �os^: An Equal Opportunity/Afrmatiue Action Employer DON D. MARTIN ..... SCOTT COUNTY ASSESSOR COURTHOUSE 112 • A428 S. HOLMES ST. • �' '' ' SHAKOPEE, MN 55379-1381 (612) 496-8115 Deputy: LEROY T.ARNOLD! To: The 1992 Shakopee Boa/Ed oti Rev-Lew Date: May 8, 1992 Subject: Total Minnesota Pnopehty, .located at 234 W. 1ist Ave. Pancee #27 001 143 0 Dezcxi.ption ob Pnopetrty: Thus pnopeAty a 4eAvice 4tatLon stone which was oii g.Lnatt a Mobile Ude. 4tat on. The convetusion wads done in 1984 by Q-Supetcette. The station ways onig,Lnatty bwLt in 1954? and haA 2058 4quane beet. The Land area L 19, 170 iquan.e' feet. The pno peer t y ways puncha4 ed by Total Minne4 ota in May o6 1988 ban a punchat e p/t-ce o b $384,000 nunuz $115,200 n petr4onaf2 pnopetrty bon a total neat estate p' ce ob $268,800. 1992 Vatua .i.on Inbonma Lon: Land Vatue $ 62,600 ($3.27 pets. 6q. 6t. ) Stnuctune Value $ 82,200 Total Vague $144,800 (JthQ/ Inbormation: See enclo4ed 2ettetc negatding contamination pnobtemz. An Equal Opportunity/Affirmative Action Employer TO . L Total Petroleum, Inc. DENVER PLACE NORTH TOWER TELEPHONE 303 291-2564 MAILING ADDRESS 999 18TH STREET.SUITE 2201 P.O.BOX 500 DENVER.COLORADO 80202-2492 DENVER.COLORADO 80201-0500 JACK P. HANNA PROPERTY TAX REPRESENTATIVE May 5, 1992 Scott County Assessor Courthouse 112 423 S. Holmes St. Shakopee, Minnesota 55379-1331 RE: Local Board of Review Appeal Address: 234 W. 1st St. Shakopee, MN Parcel No: 27-001143-0 Dear Sir/Madam: Please accept this letter as our official appeal of the 1992 Market Value of the above referenced property. The basis of our appeal is that this property is suffering from environmental contamination due to the presence of petroleum products in the ground. Based on research conducted by our company and other sources it has been estimated that the minimum "cost to cure" or "cost to contain" has been established at $110,000. It is our contention that this damage has caused a loss to the market value of this property. Based on this information, we request a reduction in the value placed on this property for 1992. As you will agree this type of damage will adversely effect the market value of this property. It is customary in the industry to deduct or "hold back" the estimated cost to correct this type of damage from any purchase price when property of this kind is sold. Therefore, a lump sum deduction in value is appropriate until such time the contamination is eliminated or contained to a degree that is in accordance with governmental regulations. In the event of an adjustment in the valuation of this property, we will be in continuous contact with your jurisdiction in order to inform you when the necessary clean-up has been completed so that the value can be returned to the appropriate level . As expected documentation of this type is quite extensive; therefore, it can be supplied at your request. This issue has been well documented in recent court cases in several states. It appears to be the consensus of these courts that properties that are exposed to this type of contamination suffer from reduced marketability and hence, reduced market value. 1 Thank you for your time and consideration. In the event there are further questions or concerns, or you require additional documentation please do not hesitate to contact me at 1-800-525- 9091, extension 2564. S'ncerely, [4 ' Jack P. Hann DON D. MARTIN ID SCOTT COUNTY ASSESSOR COURTHOUSE 112 • 428 S. HOLMES ST. SHAKOPEE, MN 55379-1381 (612) 496-8115 Deputy: LEROY T.ARNOLD! To: The 1992 Shakopee 8oand o6 Review Date: May 8, 1992 Subject: Pno pent y owned by C.eete Link Desctip---Lon ob Pnopekty: Pancee #271210010 Vacant tot o6 100 x 125, (u4ab!e pon i.an ti,mLted to 80 x 125 due tO gals tine easement. Panc.e e 027 121 011 0 Vacant lot o 80 x 130. U/LU need Lig station ian a ewag e to make tot bui dab.ee. Pahce.2 #27 121 012 0 Vacant .tot os6 80 x 132 (Avg. ) Witt need .ei.6t station to make th,i tot bu itdab.e. Pace # 27 121 013 0 Vacant tot o6 appnox,cmateLy 14,000 sq.6t. Witt need £_q't station. Pance.e #27 121 016 0 Vacant .tot o6 80 x 130, Witt need tiit Ota ion. . . Pancet #27 121 017 0 Vacant tot o6 appnax. 11,900 sq. 6t. U/LU need tL{t 4tation. . . Pancee 027 121 026 0 Vacant pance.2 deacttibed ass Outtot A South Pakkv-Lew Addition. Ma pancet has appnax. 6.40 actces and .tom £attmed at pnesent. Pance.2 #27 121 027 0 Outtot 8 o.6 South Pakkv.Lew Addition. Contaiws appnox. .96 acnes, .i)s janmed. Pancet #27 121 028 0 Outtot C South Pankv-Lew Addition. Conta-&to appnox. 2.40 acne,, is 6a.'rmed Pancee. #27 121 029 0 Outtot D of South Pankv,iew Addition. Contain's appnox. 3.83 ache4, -us 0fcmed. Vatuat'-i o n's: 27 121 001 0 $20,400 27 121 027 0 $ 6,000 27 121 011 0 $ 1,500 27 121 028 0 $15, 100 27 121 012 0 $ 1,500 27 121 029 0 $24, 100 27 121 013 0 $ 2,000 27 121 016 0 $ 1,500 27 12.1 017 0 $ 1, 700 27 121 026 0 $40,300 ()their. In6nhmat on.: An Equal Opportunity/Afrmatiue Action Employer DON D. MARTIN l/ p SCOTT COUNTY ASSESSOR COURTHOUSE 112 428 S. HOLMES ST. • " r -. SHAKOPEE, MN 55379-1381 (612) 496-8115 Deputy: LEROY T.ARNOLD! To: The 1992 Shakopee Board os Review Date: May 8, 1992 Subject: G/Legony Wei.goX d Pnopetity Pance.e Numbe/L 27 929 014 0 Deis JT_ ption o6 P/Lopetity: Location: 3000 County Road 42. 10.00 acne.s £aca.ted in .the NE4 o6 zecti.on 29. The pnopetity ha4 a 4 Levee sp.eit home which wais conztAucted in 1986. The home ha>,' 1645 4quane iee.t, 2 6uU ba.th4, 3 bed/Loom4, .the bazement iz app/Lox-cmate.ey 50% i,inizhed with a Ott bath, 4tudy, and nectceation /Loom. The home hats 1 6.vicepIace, and a zmcfl conctce.te patio. The aanage .us attached and meazune2 26 x 24. A po.ee-.type hau e ahed ways con- z.ttcucted £n 1991 which .cis 768 4quane dee.t. 1992 VafuatLon In6o,tmatLon: The £and va,eue .th.rz p/Lopejity Ls yet at $41,000 and .the vaeue 4o/L .the ztnuctu/Le4 -cis estimated .to be $102,400. Totae. value 4on .the pnapeAty .ins $143,400. The pnapenty cis ccvvicen ey ceazz ib.ied az Rej,Ldent i.at homey.tead, (zee agn. poticy -inso. ) . The We..go-d'4 pu/Lchazed .the p/Lopetzty in January 1991 fan $148,000. O.thon Nanma .ion: An Equal Opportunity IAffirmative Action Employer �. _ 0 • 0 G t v 0 O • 0 G L J :..0 -0 J' - :-:) ....J I n i G O N - 11.1 0 • ci 0 } m N n @ • CO N CO P tib CC 0 n L7 01 _ 11 0 U7I - B N4 11 N . .N N ii (HI - p Cw7 Y7 (w'] CO m H @ -@ m m 4 m CO n n • H L H CI CO n J1 OJ n HCIH d H 0 ') - f Cl 0 L7 II 01 V! -i n - ., n • 11 LI 11 til F CU M n ❑-I H _ _ ' U LI •/4- H d H H C .. _ H 3{ H J. H H H J H .J J SI 0 H SI Q' . ci C ; • w n w ':. til `I I 2 . n . rj •a c o , j W P n W W : W- P . J O m .Pa P H d °+ „ .@ a • La VI 11 Ca 1. W H H .. . Cr. L' Ui H U -.n .H -' H I W C. W N W II . LI. Z I P J n • N COI O] Z ll .fD O . • - CO CO i O W W I W - �0w1 CO W N W 0 0 11 11 W 0 . W 0. . CO 4- U 0 J n LI 0 (y 0 0 LL CO P C W CO n CO C H Lf CO H C.' L�I C a I 9 n . w ii f7 W H n • w H P 0 P . NI d II NI ICJ n L^ 0 1 II n W 9_ - - . tri CO H u . Id a , 1 C4 .-i H ...CD CO • u • • . u II 1 N MC4 0.4 II _ M.4,4,-t . 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I* 0 W I 1•* • I O • N L �-, �F3 W *1 0 1 * I , X__I . *I M -'., 2 Y J1`�4t_I _ *I.- li I t ,• • • M 0 z,-, C 2 •,'�..• ZN to O i ' .i WIA• I N Wf0 r+ 1 W CT-4 NW.. I W O W • CO W.. 12.11 .1- 1 J I • 2[f3Q ! J I SN(Au1Q 1 • I F - hQ•• G! F' i-S Qv .on 4FF 1.- a ' I N CD UI I " � y�- PJQ4IT-M.' qWW N I . O 1 I u�1 1 O SJ I E (yah 0 Cd 4X Ea, 0J NSJ I E ' 1Ca • ;' i O I 0 I G H a"ZK 1 I 0 a. CM {4I-I '.Xtr_M.+ZK I V A I 03 H I • F I *I m W W01-1H I I* g - W CDZZZ4~i4. I ,1 * . W 1 h f r r e 11, .. .C• '' r` n n �' 0 0 Q0 n -, ' e A ,e0 '� DON D. MARTIN SCOTT COUNTY ASSESSOR 1-1111/1!!!!! COURTHOUSE 112 • 428 S. HOLMES ST. SHAKOPEE, MN 55379-1381 (612) 496-8115 Deputy: LEROYT.ARNOLD! To: The 1992 Shakopee BoaAd os Review Date: May 8, 1992 Subject: Reed OtteAbtad pnapeAty. Pancet Number 27 913 030 0 De4cA ption o6 PAope, ty: The pnapeltty -us Located at 9186 Baiting SpAing4 Lane. The home a 4pt-it-en t/Ly home conSttnucted in 1976 with 1106 zquane beet. An addition wao added to the pnopettty in 1991 which L bu.c,?t ovet the attached garage and hays 576 4quane feet. The addition ways in-5pected by my4et6 on January 7, 1992 and sound to be appnaximatety 80% complete fan the 1992 azisemment. The garage Ls attached and -LA 24 x 24. Thebe i4 1 6.vt.eptace -i.n the home, a waefzowt and the tot L appnox i.mate2.y 2.50 acte4 in 4A.ze. 1992 Vaeuat.Lon In6onmatLon: Lot value $15, 100 (tow tot which .cam goaded -Ln heavy nain peh i.odLs) . - Stnuctune $68,300 ($16,400 tion the new addition) . Totae $83,400 O. ho,N. Iqnirmatinn: 117192 wo tJz completed on new addition: Bxtee i.an wa3 100% complete, Sheet noca woo up and taped, but not painted. No carpet had been put down, tn,im woAk was not done, etecti cae wao about 95% 4,in ohed. • An Equal Opportunity'Affirmative Action Employer DON D. MARTIN 1 SCOTT COUNTY ASSESSOR 3 4 COURTHOUSE 112 • x 428 S. HOLMES ST. SHAKOPEE, MN 55379-1381 (612) 496-8115 Deputy: LEROY T.ARNOLDI To: The 1992 Shakopee Board o5 Review Date: May 8, 1992 Subject: James O'Leary and Wife property at 1029 Merrifield, Shakopee, MN 55379 D e s cAip.t i.o n o6 PA.c p e, y: 14 -3 JEJ Add'n. • 1992 Vatuat.on 1n/o~vna Lon: Land $24,000 Bldg. $54,700- Total assessed value of $78,700. This 1055 sq. ft. split entry was built in 1975 and has a 24 X 22 sq. ft. attached garage. The basement has 460 sq. ft. of finish and the house has central air conditioning. It also has a 12 X 14 deck. The increase in value is attributed to the valued of the land. The 1991 assessed land value was $22,100 but was raised to $24,000 for 1992. O hvt. 1qoamatLon: An Equal Opportunity/Af rmatiue Action Employer DON D. MARTIN SCOTT COUNTY ASSESSOR �C 11:11p COURTHOUSE 112 / *IA;VV:::: 428 S. HOLMES ST. SHAKOPEE, MN 55379-1381 (612) 496-8115 Deputy: LEROY T.ARNOLD! To: The 1992 Shakopee Board o5 Review Date: May 8, 1992 Subject: PnopeAty owned bj SheAman Thwcme t Pancee #27 017 051 0 Desc ipt.ion o5 PnopeAty: Pnopettty addAesz 742 S. Mad.izon A 1J stony home buiet in 1963 with 1170 4quwte deet on the main f.eoor. The home . ha's a iinished ba3ement of approx-inateey 646 4q.6t. with a bedroom and necAea i.on /Loom. The main goon haz a Hitchen, Uving /Loom, 2 bednooma, and 1 6uPt bath. The 2nd Levee hays 2 bed/toom4s and a.3/4 bath. The/Le ,is 1 6ikep2-ace cin the house, and centtl.ae air. conditioning. The ga age a detached, haz 546 6q.6t. and wcus bu.i?t in 1970. The tot 80 x 120. 1992 Vacua ion In6/cvnatLon: The tot value -cis $21,200 The 4tAuc twte value a $76, 100 • The total value son the pnopvity -us $97,300. Other In6orma Lon: The 6.Lnepeace .us not iuncti,oning due to pnobtems in the flue, and the value at present ha4 been reduced to ne{lect this de6ect. An Equal Opportunity/Afrmative Action Employer 15450 South Outer Forty PTR Suite 270 Chesterfield,Missouri 63017 Property Tax Research Company ( 537-2700 314)537-2307/FAX (800)394-0140 May 4, 1992 CERTIFIED MAIL: Return Receipt Requested Mr. Bob Schmitt Scott County Assessor's Office 428 South Holmes Shakopee, MN 55379 RE: 1992 Assessment Appeals Dear Mr. Schmitt: As agent for the taxpayers, I am petitioning the City of Shakopee, County of Scott Assessor's Office to review the valuations of the properties on the attached list. Please find enclosed our agent authorization for each parcel. Please send any and all correspondence to the care of: PROPERTY TAX RESEARCH COMPANY 15450 South Outer 40, Suite 270 Chesterfield, MO 63017 ATTN: Michael C. McDonald If you have any questions, please contact me at 800-394-0140. Your assistance in this regard is greatly appreciated. Very Truly Yours, PROPERTY TAX RESEARCH COMPANY sAff,f4tere Michael C. McDonald Agent for Taxpayers MCM:ecp Enclosures St.Louis Dallas Phoenix Atlanta Houston Portland Boston Kansas City Tampa Cleveland Los Angeles PROPERTY TAX RESEARCH COMPANY CITY OF SHAKOPEE - SCOTT COUNTY - ASSESSOR We respectfully request a review of the following parcels: J. L. Shiely Company-Shakopee Quarry 91/6199/5/MN 6896 Highway 101 27-902020-0 27-903004-0 27-911006-0 Shakopee Valley Printing 92/6748/1/MN 5101 Valley Industrial Blvd. South 27-089001-0 27-089002-0 Property Tax Research Company AGENT AUTHORIZATION TO: To Whom It May Concern Assessor's Office and Assessment Appeals Board Date: Shiely, J.L. Company hereby authorizes and appoints Property Tax Research Company to act as agent with full authority to handle all matters relating to ad valorem tax matters. This includes but is not limited to filing of property tax declarations or other documents with you or the Assessment Appeals Board, examining any records in your office which I have a right to examine, appearing before any assessment officer or board and discussing assessments and resolving disputes with you concerning the assess- ment on property for which I am responsible for the property taxes.This agency shall terminate when all matters relating to the 19 91 and 19 92 assessments are resolved unless sooner revoked in writing by me. Shiely, J.L. Company TAXPAYER NAME // • 4:;-: s,1:1%%267-/:: _ l'erate7-f.7 'AL/THORI ED SIGNAT,Id'RE PRINT SIGNER NAME ri—Cqr . /i/ ;///(/;22/ /,, TITLE / DATE `-til 6-P-011 /0 )A_ /0 )A_ PTR Property Tax Research Company AGENT AUTHORIZATION TO: To Whom It May Concern Assessor's Office and the Assessment Review Agency Date: March 30, 1992 Shakopee Valley Printing ,hereby authorizes and appoints Property Tax Research Company to act as agent with full authority to handle all matters relating to ad valorem tax matters.This includes but is not limited to filing of property tax declarations or other documents with you or the Assessment Appeals Board,examining any records in your office which I have a right to examine, appearing before any assessment officer or board and discussing assessments and resolving disputes with you concerning the assessment on property for which I am responsible for the property taxes. This agency shall terminate when all matters relating to the 19 a1 and 19 99 assessments are resolved unless sooner revoked in writing by me. Shakopee Valley Printing. TAXPAYER NAME / Kenneth Theis ORIZED SIGNAT RE74-- PRINT NAME OF SIGNER V.P./General Manager March 30, 1992 TITLE DATE q Jt:- 0,.... • DON D. MARTIN SCOTT COUNTY ASSESSOR1`-• COURTHOUSE 112 • �_ 428 S. HOLMES ST. w SHAKOPEE, MN 55379-1381 (612) 496-8115 Deputy: LEROY T.ARNOLDI To: The 1992 Shakopee Board o6 Review Date: May 11, 1992 Subject: J.L. Sh.Leey Company Gnzvee Quanny Pance . # 27 902 020 0, 27 903 004 0, 27 911 006 0 Decn.iption o6 P.tcpetty: • Thee pnapentie4s ane .LnvoIved in the gnavee mining opera ion4 bon Sh.Ley Company o6 - Minneapoti . The totat acreage Jnvo!ved £s 203.47 acnes and the vatuatAonto ane as 6oteowt : 279020200 38.87 acne total *20.90 acne exhausted mine, 4.00 acne pent 4.ite, 1 .60 acnes not minable, 12.37 acne active mine. XXXX004,60 4X1:4 CO CC 0A 279030040 84.60 acne total 14.52 acne not mineable, 70.08 acne not eco- namLcaety 6easeabee to mine because ob £ange amount ob oven.bunden. 279110060 80.00 acne total 20.85 acnez potent.iat m.Lneabte pnapettty, 12.00 acne active mine, 16.00 acne exhausted mine, 31 . 15 acne not mineable due to avenbunden * Rate bon Gravel Rites in Scott County Potent-Lae $5000 pen acne Active $5800 pen acne Exhausted $ 500 pets acne ()then Value ass 4.Lm.iean pnopenty Othet Inbonmat.Lon: Wood beamed ab6.Lce buie.d.ing built .Ln 1959 ob 696 squane beet _ $19,800 Metal Bu.ied.Lng4 built in 1950's ob 8328 4gttane beet = $44,500 Metal Building buiLt in 1985 ob 2400 squane beet = $62,000 Block Buitding bu.Ltt in 1950's ob 300 4quane beet = $1,600 2 &Utas built in 1950's 25 x 50' ht. each = $4300 each Storage Tank built in 1989 bon t metane dust = $24,200 (600 ton capacity) 96' high etevaton used to 4uppont loading conveyan bon tank, built in 1989 10 x 14 x 96 = $ 7, 100 Total Stnuctune vague = .$168,000 Total Land Value = $115,000 Tatat Estimated Manfzet Value = $283,000 * ate ,cnbo.mation .included ,in this nepont was venni led with M .. Linda Schutz o6 Shiety and canbittmed by het with Sh.Lel y'o eng.ineen.. * ate nate used ban gravel pttz in Scott County one the carne ass those used bon thus pancet. Att ane based on the date o6 bane Land which will be mined. An Equal Opportunity/Affirmative Action Employer DON D. MARTIN SCOTT COUNTY ASSESSOR • COURTHOUSE 112 • 428 S. HOLMES ST. • SHAKOPEE, MN 55379-1381 (612) 496-8115 Deputy: LEROY T.ARNOLD! To: The 1992 Shakopee Boand os Rev-Lew Date: May 11, 1992 Subject: Shakopee Vattey P',Ln i.ng Pnopen.ty DescALp-tion o6 P,'wopenty: Pancet # 27 089 001 0 g 27 089 002 0 Lot 1 8 2 Block 1 Va tey Park 6th Addition The pn.openty -vs an .LndwstAiAt watehowse used to hawse a p)r n rig opetati.on £on. Shakopee Va Jey Pn.in ing Company. The bu.i.2-di.ng4 we/Le conzttutc ted room 1980 to 1987, (including 1980 warehouse o6 56,275 s.i., 1983 O66.Lce .Lnsen-t os 3425 s.6. 1983 Shop area as 2300 s.6., 1986 o i.c.e -imeAt o6 400 4.6. and 1987 wan.ehawse addLti.on 1992 Va2uatLon Intionma Lon: o6 1870 4.6. ) The 1992 valuation of the pnape'zty £4 $189,200 on the Land [6.31 actce. @$30,000 pets acne] and $985, 500 on the istti-uc tune. Totae value £4 $1, 174, 700. Othe,t In6onmwtLon: An Equal Opportunity/Afrmatiue Action Employer I \j DON D. MARTIN SCOTT COUNTY ASSESSOR 11111111111 COURTHOUSE 112 • ,.:-4,1 *, 428 S. HOLMES ST. SHAKOPEE, MN 55379-1381 (612) 496-8115 Deputy: LEROY T.ARNOLDI To: The 1992 Shakopee Board o6 Review Date: May 11, 1992 Subject: Stanley & Linda Beireis property located at 137 N. Naumkeag Street, Shakopee D e✓s ut iptio n o6 P.tc p e tt y: 8 to 10 31 Ex. S. 64.4• East Shakopee 1992 Va.&uat.Lon In6o.tmat.Lon: Land $24,400 Bldg. $108,200 Total value of $132,600 This motorcycle shop was built in 1991 with a wood frame and concrete block exterior walls. Interior finished is painted block and plaster. It has a forced air heating and air conditioning system installed. The bathroom each contain 2 fixtures (4 total) . The second level is used for storage and has no heat. The property also has 7068 sq. ft. of blacktop parking lot. Other In6o'unation: Mr. Beireis and Bob Schmitt have discussed the property and Mr. Beireis will be bringing in receipts and estimates for materials and labor involved in the construction of this property as he feels the assessed value is too high. If they do not come to an agreement Mr. Beireis will want to appear before the Scott County Board of Commissioners at their meeting. An Equal Opportunity/Affirmative Action Employer 15 de #11DON D. MARTIN SCOTT COUNTY ASSESSOR COURTHOUSE 112 428 S. HOLMES ST. SHAKOPEE, MN 55379-1381 (612)496-8115 Deputy: LEROY T.ARNOLDI To: The 1992 Shakopee Boand of Review Date: May 11, 1992 Subject: Patricia Goldberg property located at 2780 Co. Rd. 42, Shakopee, MN De4c. p c:on os Pnopehty: 20 Acres in Section 29, Township 115, Range 22. 1992 Vatuation Intionmati.on: Land $60,300 Bldg. $56,500 Total assessed value $116,800. This one and one-half story home built in 1890 has 1,316 foundation sq. ft. The foundation is stone with wood siding. The garage measures 23 X 25 and there is a 10 X 18 shed on the property also. Extras in the home include a fireplace. Other InsonmaLon: An Equal Opportunity lAfrmativeAction Employer 15 DON D. MARTIN SCOTT COUNTY ASSESSOR APiN COURTHOUSE 112 • 428 S. HOLMES ST. SHAKOPEE, MN 55379-1381 (612) 496-8115 Deputy: LEROY T.ARNOLDI To: The 1992 Shakopee Board of Rev-Lew Date: May 11, 1992 Subject: Gordon Gtannes Pnopetcty Located at 5015 Eagle Cseek Blvd. Pa/met #27 915 008 0 De4ctcip-tLon o3 Ptcpetrty: 2.45 Act u with 4 Level-4pU-i t which ways built in 1960 and moved onto 4i.te in 1982. The home .cis 1355 4quane feet ha's 2 iu2E baths, 1 6-JLepLace, a wa trout, a octeened patch o4 16 x16 and a utit ty shed bwiLt in 1986 which .us 12 x 20. The garage a 24 x 25 and wa. moved in with the house. 1992 VaeuatLon In4oirmatLon: The 1992 vague o6 the Land $23,300 The 1992 value ob ztt uctutez $77,900 To-taJ Value $101,200 Mn. Gtanne4 and I we .in the ptocuo of dacuzz.Lng thtis value and w.i,U be taking in the neat 6u tune. He would tike h.Lo name seconded in the minute's to protect ha Aigh-t to appear at the County Board in June. Othe,t In{yonmati.on: An Equal Opportunity/Affirmative Action Employer 5 -5-. 11111 DON D. MARTIN SCOTT COUNTY ASSESSOR COURTHOUSE 112 • '4H44Eggk) 428 S. HOLMES ST. SHAKOPEE, MN 55379-1381 (612) 496-8115 Deputy: LEROY T.ARNOLDI To: The 1992 Shakopee Board o5 Review Date: May 11, 1992 Subject: Pnopenty owned by Vicki Bunt and .located at 1774 County Road 14. Pancet 27 932 002 0 Derc Lption os Pnopenty: The Land contain4 4.82 anter and .us valued at $31, 700. The house war bu.i tt in 1971, ,us a 26 x 40 2 stony home with an attached 21 x 26 garage. The home ha4 two i bath, and a one and thee-quanten bath, 2 6-ctr-eptacer, a 3 season. ponch which ways bu,i,2t .Ln 1981 and .vs 14 x 20. The pnopenty a iso har a utui y 'shed which is 17 x 19. 1992 Va2ua.ton InsonmatLon: Land $ 31,700 Bu.i,ed ings $107,800 TotaQ- $139,500 0then Inbonmat-Lon: M4. Bunt is basing het.vaeuat ion on some estimates o4 value she nece.ived £n Feb/many of 1990 at the time sepetation 6nom hen 6onmen husband. The estimates at that time vaeued the pnopenty to be worth appnox.c:matet y $130,000. MA. Bunt ke,es that the cunnent assessed value of $139,500 is excessive. An Equal Opportunity'Affirmative Action Employer :///////// 011..L > Jj4 0-31rn Ci? -z-1 2:1 32 ZSJ Q _ 6. REAL PROPERTY. The Petitioner shall be granted all right , title, interest and equity in and to the parties ' \omestead, which has a market value of approximately $130,000.00 and a mortgage of $37,591 . 14 currently held by said parties as joint tenants, located at 1774 County Road 14, City of Shakopee, County of Scott , State of Minnesota, legally described as follows, to-wit : The North 1044.62 feet of the West 208.48 feet of the Northwest one quarter of the Northwest one quarter. of Section 32, Township 115 , Range 22. The Petitioner shall be liable for, and shall be required to assume and pay any and all obligations, encumbrances, liens, mortgages, etc. , due and owing on said homestead and shall hold the Respondent harmless therefrom; and Respondent shall execute a Quit Claim Deed to said property running in favor of the Petitioner, divesting Respondent of any and all interest in and to said pro- perty, save and except a lien in his favor in the amount of $35,000.00, repre- senting the amount necessary to equalize his marital interest in the real and personal property of the parties ; which sum Petitioner shall pay to the Respondent on or before December 31, 1994. The sum secured by Respondent 's lien shall bear interest at the rate of 7 percent per annum, simple interest, com- mencing May 1, 1990, which interest shall be due and payable at't such time as Petitioner shall pay off the principal portion of the lien. / The Petitioner shall have the right to prepay the above lien and any interest that may have accrued at anytime without penalty at her option. At such time as the lien is paid in full by the Petitioner, Respondent shall exe- cute and deliver a recordable Satisfaction of Lien. The Petitioner shall keep the homestead insured in the amount of its full market value. 7. PERSONAL PROPERTY. Except as set out below, Petitioner and Respondent are awarded and shall each retain all right, title, and possession, free and clear from the claim of the other, to the household goods , household Z� �lrj 2 0020 (BURT ) ��w r Assets and Liabilities 2-/S Q Husband Wife Thermotech: Life Insurance: Thrift plan 6/30/89 $ 2,968.00 State Farm #08045042 $ 390.00 Retirement plan 63,095.00 1984 Ford Station Wagon LTD Life Insurance: Value: $4,075.00 Banker' s Life/Principal Loan: 3,000.00 Policy #2034665 Equity: 1 ,075.00 Loan $1 ,312.97 Net cash 888.00 Homestead: Policy #1711093 Market value: $130 000.00 Loan $2,480.91 Net cash 1,064.00 of realtor' s Policy #262054 commission: - 4,550.00 Loan $ 537.38 Net cash 820.00 Mortgage: - 38, 152.00 1986 3/4 Ton F-250 EXT Equity: 87,298.00 Value: $11 ,825.00 Log splitter 500.00 Loan: 6, 141.00 Motorscooter 600.00 Equity: 5,684.00 Riding lawnmower 500.00 1981 Chevrolet 447.00 Debts: 1986 Yamaha V-MAX Target - 140.00 Value: $1 ,950.00 Southdale Periodontics - 385.00 Debt: 2,000.00 Sears - 100.00 Equity: -0- VISA (last of '89 taxes)- 1,790.00 1986 Yamaha Virago 1100 Lawrence Schesso -11 ,000.00 Value: $1,500.00 Debt: -0- Equity: 1 ,500.00 Hunter's Group -?- Savings Act. Norwest (For Taxes) 600.00 John Deere trailer Scamper - Model 309 Value: $17,000.00 Debt: 15,000.00 Equity: 2,000.00 Two snow plows 500.00 Sale of Allis Chalmers Tractor Gross 17,500.00 Commission - 1,750.00 Trailer downpayment - 2,000.00 Schesso (loan) - 2,000.00 Misc. debt (excluding VISA & The Associates) - 1,783.00 VISA (furnace) - 1,200.00 Equity: 8, 767.00 $88,333.00 $76,948.00 Paid to Wife - 5,692.50 Received from Husband + 5, 692.50 $82,640.50 $82,640.50 Family court Forme (12-86) 2Lit "�\ UCF•102.3 Pre*arng Statement BUSINESS c•conoS CORPORA MINNE T mmEn. If yes,specify the$ received each month for child support/alimony for by the order of County dated b) Child Support or Spousal Maintenance established by court order for person(s) not included in this proceeding currently being paid: $ $ To whom is this obligation owed? County and Date of Such Order: c) Current Monthly Child Support or Spousal Maintenance Order established by temporary order for other party and minor children in this proceeding: Temporary Order dated 10/05/89 Child Support: $ 700.00 Spousal Maintenance (Alimony): $ Any claimed arrearages under existing court order(s)? No; x Yes. If Yes,specify the amount(s)claimed:Child Support:$100.00 - 10/01/89 payment Spousal Maintenance (Alimony): $ Note: Husband has not paid of uncovered medical and dental bills 4. Living Expenses: submitted to him for the parties' minor children. Your estimated monthly expenses: $ 2,281.94 (Enter the total from an itemized schedule to be attached as Exhibit 4A.) 5. Real Property: a. Homestead b. Other (1) Date acquired 1978 (2) Purchase Price: 86 000.00 $ (3) Present Fair Market Value $130,000.00 $ (4) First Mortgage Balance $ 38, 152.00 $ -0- (5) Second Mortgage Balance $ $ -0- or Home Improvement Loan $ $ (6) Net Value $ 91;848.00 $ (7) Monthly Payment: (PIS $ 376.00 P&I, taxes 3,4p0/yr, Ins. 816/year (8) Rental Income, if any $ -0- $ Other Real Estate: Provide the same information for other real property such as rental property,lake cabin,etc.as Exhibit 5C. 6. Personal Property: Fair Market Value •. In Possession of: HUSBAND WIFE JOINT a) Household Contents $ Unknown $2,000second-hand furniture b) Stocks, Bonds, etc. $ $ $ * unknown $ S S c) Checking Accts. " $ $ minimal $ SavingsAccts. tax - account $ $ 168.00 $ 600.00 d)sale or tractor *8,767.00 * for children see attached Exhibit 6 d for a breakdown of this calculation. If- J'\....--.0-%-• � st ,F),,,----- 7-►-L-3 DON D. MARTIN SCOTT COUNTY ASSESSOR ;; COURTHOUSE 112 • • = � 428 S. HOLMES ST. --" SHAKOPEE, MN 55379-1381 (612) 496-8115 Deputy: LEROY T.ARNOLD! To: The 1992 Shakopee Board os Review Date: May 11, 1992 Subject:Pnopetrty owned by T. Denny San,ond and Located along Shenandoah Daive and south of The Shakopee Ba taDom on E 4th Avenue. PanceL #27 117 002 1 Desch.-Lpti.on of Pnopettty: Thus pnopettty is a vacant piece of Land which contains 10.00 actt.es. The Land -tb zoned RTD (Race Track D.vstki t) . 1992 Vatuai-on Inionma ,i.on: The Land ,us vaL_ued at $20,200 pets acnes bon a total ob $202,000. The ceass.iiiLcat..on ob the pnopeAty is commenc ic1. The Land is vatiuec a6 any 4.im.itan comme ciat pnopett.y is valued with watea and sewer but without nai,2 denv.i.ce. Other InionmatLon: Mn. Saniond punchaaed the pnopenty £n December, 1990 {ion $237,000. I have only one others sale of vacant commenc,%aL Land within .the RTD d.ustn.ict. That Land was Located on County Road 83 and was the site o4 the Shakopee Ve2odaome. This p opettty was .sold ion $80,50-0 ion 4.64 acres and a 4teeL bu,itding which the buyeAs placed tittle value upon. This sale took place in Apn.i,L, 1992 and was ion $17,349 pets actt.e. An Equal Opportunity IAfirmatioe Action Employer i 5 h ADON D. MARTIN SCOTT COUNTY ASSESSOR r� :. COURTHOUSE 112 • �,..:4- 428 S. HOLMES ST. " SHAKOPEE, MN 55379-1381 (612) 496-8115 Deputy: LEROY T.ARNOLD! To: The 1992 Shakopee Bocucd os Review Date: May 11, 1992 Subject: Thoma. 8 Many BAode ..00n Pnope'ity #27 062 019 0 DezcAiption o5 PAopetrty: Lot 16 BtocFz 2 Hoirizon Heightts Addition Appnoximateey .80 actr.e. The tot abut the Bnode on's main pancet which -IA on Lot 15 Btocfz 2 HoALzon He ightJs Addition and .c.a u.aed az pwr t ob thein yard. • 1992 Vatuation Inbo'mat,Lon: 1992 EMV i's $22,500 which is the vatue u4ed ban att vacant tots in Hon..izon Heights Addition. I have had ont y one sate ob a vacant tot £n thin 4ubd.ivL ion ove.' the past three yea . Th.it, wads Lot 1 Btoch 3 which is on the oppoz to (west) zide ob the ptat bnom thus pan.cet. Thiz tot was 1 .44 Acke4 and 4otd OA $26,500 .in ApA,ie ob 1990. Othe,t Inbonmat on: This tot bnont4 on HoAizon CL'tcLe. and 42 adjacent to Muh- tenhaAdt Road .in the near ob the tot. The tot ways puncha4ed .in Septembetc, 1985 bon. $13,500. An Equal Opportunity/Affirmative Action Employer �•� DON D. MARTIN -- SCOTT COUNTY ASSESSOR �: COURTHOUSE 112 • _:ar'! _- 428 S. HOLMES ST. SHAKOPEE, MN 55379-1381 (612) 496-8115 Deputy: LEROY T.ARNOLDI To: The 1992 Shakopee Boa/1.d oti Review Date: May 11, 1992 Subject: Dave Chase Proepnty .located at 327 E. 2nd Ave. #27 001 193 0 Desctription o6 PtopeAty: Lot 4 Btocfz 25 City of Shakopee This property i's a 4 unit apatment bu,itding which was constructed -Ln 1886 and updated ovetL the yeaAs. The bwuidimg has an e66.icei,ncy apartment on the main goat and 3 one bedroom apatctments on the upper levee. There .us no gaAage on the property. The Lot -ins 60 x 142. 1992 VaeuatLon In6ormat.ion: The propel ty was valued 6or the 1992 assesement using the Gross Rent Mu tipt.v. approach to value. Thus approach converts gross 'Lents received from the property .into an expresto.ion q value. It .us based upon what the maAfzet i4 showing Gr044 Rent Muttiptims (GRM'4) to be from 4a e.s divided by gro4.6 income. This approach was used 6or a L the apartment properties in the City thus yeas and has proven to be 6a ' Ly reliable .in most .instances. Land Value $27,000 Building Value $57,900 Total Value $84,900 Other Iniormat i.on: Mr. Chase purchased thus propetrty in August, 1986 6or $74,000. I was unable to reach Mr. Chase by phone a.ince he will. be out os town until Thu/us- day o i thin week, (May 14th) . He wil L be tau/wing my cafe at that time. An Equal Opportunity'Affirmative Action Employer oep CAd VERAGE CENTER, INC. 228 Hwy. 212 E. Chaska, MN 55318 (612) 448-5181 May 7,1992 To whom ever this may concern : Re . parcel # 270011930 (327 E. 2nd Ave . Shakkopee) I ' m in receipt of your 1992 estimated market value on the above described parcel of propert . I must say, I am in dis— agreement with the value you have set . I presently have this property Listed with Chestnut Realty of Chaska (Broker/cer— tified appraiser Cal Haskins is handling) for $69,900 and I hope to get $65,000 out of it . You must keep in mind that this property was built in 1883 and requires alot of main— tainence and is not always so easy to rent because of the space heaters and room configuration. I ' m hoping that you will review this matter and come up with a value much closer to the one used for 1991 . Respectfully E D 1 . Chase propery owner "A Liquor Store and More" • DON D. MARTIN � ,; ,, SCOTT COUNTY ASSESSOR COURTHOUSE 112 • a )_.- 428 S. HOLMES ST. SHAKOPEE, MN 55379-1381 (612) 496-8115 Deputy: LEROY T.ARNOLDI To: The 1992 Shakopee Boand ob Review Date: May 12, 1992 Subject: Edman-O'Bn,Len Pnopenty Located at 1066 W. 3nd Ave. Patccee #27 001 863 0 DucAipt-i.on ob PnopeAty: Lomas 1 to 10 B.2ocfz 174 City ob Shakopee Lot tis 2.07 Aces + and .v, valued at $53,000 on $25,600/ace. The bwil.cting ,v, a 2 'stony obbice bu tdL.ng which waa conztnucted -Ln 1987. It ct� zteee bnamed, Concete watt4, metal gab.2e noob. The bu-itdLng has 4669 4q. bt. ob ganage tinea, 2697 4q.6t. ab obbice area, and 280 4q. bt. o entty. 1992 Valuation Inbonmati,on: The bu�.d Lng was vaeued in 1992 based on the income which wa1s generated bnom the /Lent's received dun i.ng 1991. Thus income wa's capita2- .ized uzing a cap i taQ.czat ion nate o6 11.0% to a,vt.Lve at a e. timate o6 vague. Tho method wa's done with z.i-mi,2atc pnopelrty in Shakopee bon the 1992 a34e24ment. Land Value $ 53, 000 Stnuctune $218,500 To-tat $271,500 Other Inbonmation: The ta.nd wa3 purchased .1n December., 1986 bon $50,000.00. An Equal Opportunity/Affirmative Action Employer DON D. MARTIN k SCOTT COUNTY ASSESSOR 1 COURTHOUSE 112 21115! ' 428 S. HOLMES ST. • SHAKOPEE, MN 55379-1381 (612) 496-8115 Deputy: LEROY T.ARNOLD! To: The 1992 Shakopee Board o6 Review Date: May 12, 1992 Subject: Pnopenty owned by T. Denny Sanbond and tacated atong Shenandoah DV.Lve and south ob the Shakopee Ba!22noom. Desctc,i.pt..on o5 PnopeAty: N 340' ob Outeat A Pnahmcott 14t Addition The pancee .,o vacant and conta into 5.00 actces o6 Land. It iz within the Race Mack Diztn.ict and the ceass.Lb.Lcat on ob the pnopenty .vo cammenc laL. 1992 Vatuati.on Inbonmat.i.on: The Land .us valued at $126,000 on $25,200 pen acne. Thi4 ,i s the nate which .us used m i can pnopetrt y w.cth waxen and sewer, but without nai,e senv.Lce. O-thetc Inbonmation: Mn. Sa.nbond acqu,vi.ed the pnopenty .Ln 1988 6/Lam Pnahmcott (a netated i.Lnm) bon $10,000. Thiz pancee iz .Ln the -RTD zoned d,istAi.ci bon which I have vetcy t ttee sate .Lnbonmati,on. (See 15g) . An Equal Opportunity/Affirmative Action Employer