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HomeMy WebLinkAboutBoard of Appeals and Equalization - 04/29/2008 UNAPPROVED MINUTES EDEN PRAIRIE BOARD OF APPEAL AND EQUALIZATION TUESDAY,APRIL 29, 2008 7:00 P.M., CITY CENTER Council Chambers 8080 Mitchell Road BOARD MEMBERS PRESENT: Patricia Pidcock, Chair; Mike Best, Vice-Chair; Brian Duoos, Jim Johnson and Annette O'Connor BOARD MEMBERS ABSENT: None CITY STAFF PRESENT: City Assessor Steve Sinell; Staff Appraisers: Dave Buswell, Jody Carlson, Barb Cook, John Sams and Colin Schmidt; Assessing Technician Lisa Ramsey and Recording Secretary Carol Pelzel I. CALL MEETING TO ORDER The meeting was called to order by Chair Pidcock at 7:00 p.m. The Board members introduced themselves presenting a brief background of their experience. II. ORDER OF BUSINESS A. Approve Minutes from April 10, 2008 Board of Appeal and Equalization Meetin! MOTION: Motion was made by Duoos, seconded by Best, to approve the April 10, 2008 Board of Appeal and Equalization meeting minutes as published. The motion carried 4-0-1 with Johnson abstaining because of absence from that meeting. B. Review Items Continued from April 10, 2008 City Assessor Sinell explained that the Board referred a number of cases back to the Assessor for additional review and documentation. Review appraisals were provided for the Board's review and for the homeowner's review. Sinell further explained that this evening the Board has to review the continued items and make a final decision on each one. The Board had 20 days to complete their work and this evening is the twentieth day. He reminded the Board and audience that the date of assessment is January 2, 2008 and values are referenced to that date. Appeal No. 1 —Sreng & Ching Ing, 17997 Strawberry Sinell explained that staff did a complete appraisal on this property. It is 4,200 square feet with a four-car garage. Two comparables in the neighborhood were used and those properties sold for$665,000 and $741,000 with a finished basement. Sinell said their appraisal does support an assessed value for this property at$619,000. BOARD OF APPEAL AND EQUALIZATION MINUTES April 29, 2008 Page 2 MOTION: Motion was made by Best, seconded by Duoos, in Appeal No. 1 to affirm the estimated market value of$619,000 for the property located at 17997 Strawberry Court. The motion carried, 5-0. Appeal No. 2 —Michael & Christine Secora, 12426 Chesholm Lane Christine Secora said she has been working with City Appraiser Carlson who appraised their value at$456,800. She said that Carlson indicated that it is difficult to find comparables to this property. Secora explained that their home was built in 2001 and lacks upgrades. She presented the specific differences of upgrades in their property from those in the neighboring properties. The only substantial upgrade they made was hardwood floors. Secora said the five properties used as comparisons are not good comparables. One home was built in the 1980's and priced in the mid $300,000. Secora reviewed with the Board the other comparables that had been presented by staff. She explained that a house in their neighborhood built using the exact same floor plan as theirs is on the market today with a current asking price of$399,900. The estimated market value is $458,100. The house has been on the market since 2007 with the $399,900 asking price and Secora said she is sure the sale price will be substantially less. Secora said she believes the fair market value for their property should be in the low $400,000 price range. Sinell stated that there are some differences in the property being offered for sale and it isn't a sold property. The Secora home has a walkout basement and the home for sale does not. He further explained that the five comparables used were in the general price range and adjustments were made. Pidcock said they could not use the comparable that is for sale that Secora presented. The Board reviewed the comparables that had been presented by the City Appraiser. O'Connor pointed out that the applicant's home is vinyl while the comparables were stucco or brick. Sinnell responded that adjustments were made for the differences. Secora said she is questioning whether or not staff made enough adjustments. They don't have six-panel doors, ceramic tile, etc. O'Connor pointed out that the comparables used were all over the board ranging from$342,000 to $579,000. She indicated that they do not use those types of comps when they market houses. Sinnell said it is difficult to find comparables this year. O'Connor said when she does a market analysis she tries not to go back more than six months. O'Connor said she could see adjusting the value of this property somewhere between what the City is estimating and what the homeowner believes it should be. Duoos said it is his opinion that the property value should be more in the range of$445,000. They have no idea what the neighboring property will sell for. MOTION: Motion was made by O'Connor, seconded by Johnson, in Appeal No. 2 to reduce the estimated market value to $435,000 for the property located at 12426 Chesholm Lane. The motion carried, 4-1 with Duoos voting nay. Duoos said he believes the property should be valued at$445,000. Johnson said that in a market like today, there are so many things going on that an appraisal is very objective. He said he is comfortable with the $435,000 value. BOARD OF APPEAL AND EQUALIZATION MINUTES April 29, 2008 Page 3 Appeal No. 4 —James Hunter, 9279 Dartmouth Avenue MOTION: Motion was made by O'Connor, seconded by Duoos, in Appeal No. 4 to reduce the estimated market value to $540,000 for the property located at 9279 Dartmouth Avenue. The motion carried, 5-0. Appeal No. 5 —Jeffrey Harris, 18654 Vogel Farm Trail MOTION: Motion was made by Duoos, seconded by O'Connor, in Appeal No. 5 to affirm the estimated market value of$744,700 for the property located at 18654 Vogel Farm Trail. The motion carried 5-0. Appeal No. 6 —Kathleen Adams, 18844 Chennault Way Kathleen Adams explained that her request for a reduction in value is based on values of properties sold since January 1. She presented nine properties that had been sold and located within one mile of her home. Adams pointed out that the homes in her neighborhood sold on average at 86 percent of the estimated market value. Based on this evidence, her home should be valued at$244,400 on the open market today. She did have an appraisal completed on her property using three comparables. Values have been going down dramatically. Adams said that O'Connor stated that comparables should be used for properties that were sold within six months of the assessment or less. Adams said her evidence shows that on the average, the estimated market value from homes sold in 2007 are actually selling for approximately 86 percent of those valuations. This data would support her recommendation that her property have an estimated market value of$244,400. Sinnell explained that the City Appraiser found three comparables close to the Adams property and built around the same time as the subject property. Sales of those properties occurred in June 2007, September 2007 and January 2008. Sinnell reviewed the selling prices of the three comparables stating that adjustments were made for the properties. He said that staff is recommending that the estimated market value be reduced from$275,800 to $265,000. Best said some of the comparables Adams presented were for sales that occurred after January 2. As this year progresses, they will need to monitor the impact of what is occurring and more adjustments may need to be made as time goes by. MOTION: Motion was made by Best, seconded by Duoos, in Appeal No. 6 to reduce the estimated market value to $265,000 for the property located at 18844 Chennault Way. The motion carried, 5-0. Appeal No. 7 —Brian & Melissa Wilson, 12393 Chesholm Lane Melissa Wilson explained that she worked with the City Appraiser and her value was reduced from$484,800 to $460,000 but feels that her property is still overvalued. The comparables that were used by the City were for properties sold approximately one year from today or about eight to nine months prior to January 2. She said had they looked at sales of BOARD OF APPEAL AND EQUALIZATION MINUTES April 29, 2008 Page 4 properties closer to the January 2 date they would have found that those properties would have sold for a much lower amount. Wilson reviewed the comparables used in determining the value of her home. Brian Wilson presented some additional comparables and said that based on those comparables, they believe their home should be valued at $400,000. Their home is on the bluff but is one of the smaller homes in the neighborhood. Sinnell said staff did everything they could to find comparables. He indicated that staff recommended that the value be reduced from$484,800 to $460,000. Sinnell said that perhaps $450,000 or$445,000 would be a better number. Brian Wilson stated that$460,000 is high compared to $410,000 or$405,000 on the other properties they presented. Johnson said that based on the additional information presented this evening, he suggested that they consider reducing the value to $435,000 or$440,000. MOTION: Motion was made by Johnson, seconded by O'Connor, in Appeal No. 7 to reduce the estimated market value to $440,000 for the property located at 12393 Chesholm Lane. The motion carried, 5-0. Appeal No. 8 —Tom& Jackie Rabiola, 17579 Toft Cove MOTION: Motion was made by Duoos, seconded by Best, in Appeal No. 8 to reduce the estimated market value to $875,000 for the property located at 17579 Toft Cove. The motion carried 5-0. Appeal No. 9 —Shravan Pargal, 16997 New Market Drive Shravan Pargal stated that if they look at sale dates from August, September and November of 2007 the dates fall within the 6-month range. In calculating the prices from those sales, they range in price from$177 per square foot to $196 per square foot. The recommended value of his home has been placed at$537,000 or$197 per square foot. Pargal said based on the $170 per square foot range,he comes up with a value of$462,000. Sinnell explained that adjustments had been made to the comparables for location within the neighborhood, walkouts versus non-walkouts and a two-car garage versus a three-car garage. Paragal said in determining his value he used the average values of the homes that the City used. Sinnell stated that they did an appraisal and Pargal did an analysis. They are not the same thing. Pargal said he has a highway located directly behind his home and they do have highway noise. Also, it was shown that he has a pond which he considers a drainage easement that floods each spring and then goes away. He further explained that the comparables have to be adjusted because of the location of his house to the highway. The comparables don't have a frontage road behind them or hear highway noise. Sinnell said staff did make adjustments for all of the differences. The subject property is located on a 60,000 square foot lot. Johnson questioned the adjustments that were made to the comparables. Schmidt explained that for Comparables 2, 3 and 4 there were no adjustment made because of the size of the lot. An adjustment was made for Comparable No. 1 because it is not a typical lot and it was reduced down. Sinnell pointed out that an adjustment was not made for the highway but if BOARD OF APPEAL AND EQUALIZATION MINUTES April 29, 2008 Page 5 they were to get it to the $462,000 value the petitioner is requesting they would have to adjust it down $37,000. O'Connor pointed out that the subject property has an incomplete three-season porch. Schmidt said that is correct. There is some sheetrock missing and some other minor finishes that need to be made. Pargal said that one piece of the appraisal that appears to be inaccurate is the gross area valuation. Johnson explained that square footage is a factor but not necessarily the most important factor. Best said he would recommend that the property be valued at$500,000 rather than $537,000. This would be a five percent adjustment for being located so close to the highway. In looking at what Pargal has and the general area of the location $500,000 seems to be more than fair. MOTION: Motion was made by Best, seconded by O'Connor, in Appeal No. 9 to affirm the estimated market value of$500,000 for the property located at 16997 New Market Drive. The motion carried 5-0. Appeal No. 10—William Gooding, 17406 Ada Court MOTION: Motion was made by Best, seconded by Johnson, in Appeal No. 10 to reduce the estimated market value to $435,000 for the property located at 17406 Ada Court. The motion carried 5-0. Appeal No. 11 —Greg Murphy, 12324 Chesholm Lane MOTION: Motion was made by Duoos, seconded by O'Connor, in Appeal No. 11 to reduce the estimated market value to $545,000 for the property located at 12324 Chesholm Lane. The motion carried 5-0. Appeal No. 12 —John & Cynthia Veire, 17207 Trenton Lane MOTION: Motion was made by Johnson, seconded by Duoos, in Appeal No. 12 to reduce the estimated market value to $542,000 for the property located at 17207 Trenton Lane. The motion carried 5-0. Appeal No. 13 —Dipak Shah, 7993 Lismore Circle Dipak Shah said he believes the value of his home should be no more than $400,000 with the decrease in property values. In reviewing comparables, he believes his house is more like Comparable No. 1 at$405,000. He explained that his home has vinyl siding and he does not have any upgrades in the house. It is very basic with an unfinished basement. Sinnell said the Assessors agree that the house is of lower quality than other houses in the neighborhood and a $20,000 adjustment was made for that. The subject property is larger BOARD OF APPEAL AND EQUALIZATION MINUTES April 29, 2008 Page 6 than Comparable No. 1 and it also has a three-season porch. Sinnell said staff feels they have adequately addressed the differences. MOTION: Motion was made by Johnson, seconded by O'Connor, to affirm the estimated market value to $445,300 for the property located at 7993 Lismore Circle. The motion carried 5-0. Appeal No. 14 —Paul Mangiamele, 11311 Entrevaux Drive MOTION: Motion was made by Duoos, seconded by Johnson, in Appeal No. 14 to reduce the estimated market value to $860,000 for the property located at 11311 Entrevaux Drive. The motion carried 5-0. Appeal No. 15 —Stephen & Mary Ann Chicoine, 11530 Landing MOTION: Motion was made by Best, seconded by Duoos, in Appeal No. 15 to reduce the estimated market value to $800,000 for the property located at 11530 Landing Road. The motion carried 5-0. Appeal No. 16 —Steve & Kathy Sather, 10432 Purdey Road MOTION: Motion was made by Best, seconded by Duoos, in Appeal No. 16 to reduce the estimated market value to $900,000 for the property located at 10432 Purdey Road. The motion carried 5-0. Appeal No. 18 —Jeffrey Sloan, 9494 Riley Lake Road Jeffrey Sloan provided three objective market values from his home that were done on April 10. They used five comparables that were sold within the last six months. The Assessor increased the value of his home from the original purchase price compared to other sales in the neighborhood. It appears that the size of the house has been overstated by 257 square feet. The purchase price of the home in 2003 has been increased from$716,000 to $810,000 while property values in the neighborhood have declined by 4.5 percent. Sloan reviewed the discrepancies he found with the appraisal including the misstated square footage. Based on the methods he used, he feels his home should be valued at$768,892. Duoos explained that Sloan cannot just use averages in determining the value of a home. Also, square footage values are all over the board. Pidcock said there are architectural details in a home that also affect the value of that home. Duoos asked if the discrepancy in square footage has been verified or discounted. Sinnell responded that they don't necessarily take the size of the home stamped on the building plans. They did some checking on the square footage and staff feels the square footage used is appropriate for the appraisal process and they are comfortable with those numbers. Sloan said it doesn't make sense that they came up with a value that doesn't meet the comparables used. The homes in his neighborhood have declined 4.5 percent from the BOARD OF APPEAL AND EQUALIZATION MINUTES April 29, 2008 Page 7 original construction price. Sloan said he feels his house should have decreased in value as the other five comparables did. O'Connor pointed out that Comparable No. 1 sold for$815,000 in August, 2007. Sloan stated that the house was originally constructed for$835,000 and he feels his house should decline the same as the other houses. O'Connor said she feels this house could be sold for $810,000. MOTION: Motion was made by O'Connor, seconded by Duoos, in Appeal No. 18 to affirm the estimated market value of$810,000 for the property located at 9494 Riley Lake Road. The motion carried 5-0. Appeal No. 19 —Mark& Elaine Taggatz, 6920 Ticondero_a Trail MOTION: Motion was made by Duoos, seconded by Best, in Appeal No. 19 to reduce the estimated market value to $250,000 for the property located at 6920 Ticonderoga Trail. The motion carried 5-0. Appeal No. 20—Emily Khieu, 17846 Fruitwood Lane MOTION: Motion was made by O'Connor, seconded by Duoos, in Appeal No. 20 to affirm the estimated market value of$650,800 for the property located at 17846 Fruitwood Lane. The motion carried 5-0. Appeal No. 21 —Don Ramler& Susan Orton, 16760 South Shore Lane MOTION: Motion was made by O'Connor, seconded by Duoos, in Appeal No. 21 to affirm the estimated market value of$535,500 for the property located at 16760 South Shore Lane. The motion carried 5-0. Appeal No. 22 —Deane & Joan Conklin, 15529 Junegrass Lane MOTION: Motion was made by Johnson, seconded by Best, in Appeal No. 22 to affirm the estimated market value of$385,000 for the property located at 15529 Junegrass Lane. The motion carried 5-0. Appeal No. 23 —Chester Swietkowski, 6610 Countryside Drive MOTION: Motion was made by O'Connor, seconded by Duoos, in Appeal No. 23 to affirm the estimated market value of$265,300 for the property located at 6610 Countryside Drive. The motion carried 5-0. Appeal No. 25 —Philip & Catherine Dien, 10444 Purdey Road MOTION: Motion was made by O'Connor, seconded by Best, in Appeal No. 25 to reduce the estimated market value to $985,000 for the property located at 10444 Purdey Road. The motion carried 5-0. BOARD OF APPEAL AND EQUALIZATION MINUTES April 29, 2008 Page 8 Appeal No. 26 —Stefan Peterson & Shanti Shah, 6311 Country MOTION: Motion was made by Johnson, seconded by Duoos, in Appeal No. 26 to reduce the estimated market value to $530,000 for the property located at 6311 Country Road. The motion carried, 5-0. Appeal No. 27 —David & Nancy Westby, 6734 Boyd Avenue MOTION: Motion was made by Johnson, seconded by Duoos, in Appeal No. 27 to reduce the estimated market value to $430,000 for the property located at 6734 Boyd Avenue. The motion carried, 5-0. Appeal No. 28 —Gary Radel, 18141 Overland Trail MOTION: Motion was made by Johnson, seconded by Best, in Appeal No. 28 to reduce the estimated market value to $835,000 for the property located at 181410verland Trail. The motion carried, 5-0. Appeal No. 29 —Martin Wheeler, 6399 Ginger Drive Martin Wheeler reviewed the comparables used explaining that some of them were in different areas than his. His home has two bedrooms up and two on the lower level. Wheeler said his house has an odd setup. He stated that when he purchased the home the assessed value was $645,400 and he paid $770,000 for it. The home two doors down was purchased a few months later for$559,000. Wheeler said the value of his home continues to go up but he feels it should be valued at$730,000. Sinnell explained that this is one of the smaller neighborhoods in the City and has only 26 houses in it. Some of the homes back up to townhouses and values range from$400,000 to $800,000. The subject property is on the end of a cul-de-sac, has a wooded lot and is adjacent to a City park. O'Connor pointed out that the house is functionally obsolete because of the location of the bedrooms. It would take a special buyer to purchase this home with its existing layout. The comparables used were standard four-bedroom homes. Wheeler said the house has multiple issues and he would like to see it valued accordingly. Duoos asked if the homeowner would be happy with a value of$775,000. O'Connor said she is leaning to something a little lower. The lot is nice but the house has an unusual set up. Best said he also has concerns with the house only having two bedrooms up. O'Connor said she would consider valuing the house at$750,000. Johnson stated that he would have no objection to that. MOTION: Motion was made by O'Connor, seconded by Best, to reduce the estimated market value to $750,000 for the property located at 6399 Ginger Drive. The motion carried, 5-0. BOARD OF APPEAL AND EQUALIZATION MINUTES April 29, 2008 Page 9 Appeal No. 30—Adel Hashw, 12238 Jasper Lane MOTION: Motion was made by Best, seconded by Johnson, in Appeal No. 30 to reduce the estimated market value to $525,000 for the property located at 12238 Jasper Lane. The motion carried, 5-0. Appeal No. 31 —Doug Stansbury, 9439 Olympia Drive MOTION: Motion was made by Duoos, seconded by Best, in Appeal No. 31 to affirm the estimated market value of$750,000 for the property located at 9439 Olympia Drive. The motion carried 5-0. Appeal No. 32 —Peter & Cynthia Decesare, 10599 Parker Drive MOTION: Motion was made by Best, seconded by Johnson, in Appeal No. 32 to reduce the estimated market value to $600,000 for the property located at 10599 Parker Drive. The motion carried, 5-0. Appeal No. 33 —Bruce & Kathy Riemer, 10570 Prairie Lakes Dr. Kathy Riemer explained that she had a realtor do a market analysis of their home and they came up with a price range of$566,000 to $590,000. She said she had another realtor gather sale information from 2007 for homes built in 1994 and 2000 or 1997. They looked at homes that had four bedrooms and three baths and the prices ranged between $575,000 and $725,000. Riemer presented the comparables explaining that they have a very basic house with very few amenities. The house does have a screen porch but they don't have a finished basement. Riemer said they feel the three comparables the City Appraiser presented were on the high end. She said they would expect the house to be valued in the low to mid $600,000. They were surprised that their value was increased 3.5 percent. Sinnell explained that there are very few houses that have sold in this neighborhood so they have to go somewhere else to get the sales comparisons. They looked for houses that matched up in size and in a similar location. Two of the comparables are not premium homes. O'Connor said she does not believe the home should be valued under $600,000. Pidcock said she agrees and feels it should be priced around $640,000. O'Connor pointed out that a kitchen that is not updated is a strong negative. Sinnell said he believes this house is worth $663,000. He explained that if the homeowner is not satisfied with what the City Assessor values the home at they do have the option of appearing before the County Board. MOTION: Motion was made by Best, seconded by Johnson, to reduce the estimated market value to $640,000 for the property located at 10570 Prairie Lakes Drive. The motion carried, 5-0. Appeal No. 34 —Donald & Ruth Tate, 9411 Libber BOARD OF APPEAL AND EQUALIZATION MINUTES April 29, 2008 Page 10 Donald Tate explained that there are three ways of looking at the proposed valuation for his property. The City Assessor presented four appraisals for homes that sold in April, May and December, 2007. The majority of those comparables were not within the six-month period. The only one that meets that timeframe was the home sold in December. That home sold for $398,000. There are two properties on his street that are for sale. The first one is listed at $434,000 and the other is listed at$439,000. Tate said he had two reputable realtors look at his home and they indicated that he could sell his house for$379,000 or $389,900. Both realtors told him it would be an exercise in futility to place his home on the market for more than $395,000. Tate said he would be more comfortable with a value of$400,000 for his home. Ruth Tate said there was a center unit that sold last year in the $390,000's. O'Connor said she drove through that neighborhood and the issues are the homes that are in foreclosure. Because of the foreclosures, the City is willing to lower the assessed value. Sinnell reported that this was an interesting case study. All of the issues are the foreclosures and the unfinished units in the development. Staff has looked at all of this information and what these properties are today. The foreclosures will have to be addressed in 2009. Staff will continue to watch this development and this neighborhood will have individual inspections. Tate explained that the units were foreclosed in January 2008. Some of the units were built last summer. Foreclosure was an issue for the latter half of last year. There are two units for sale that went on the market fairly close to January 1. One is listed for$438,000 and the other for$435,000 and they have more livable space than he has. Johnson said there is no doubt that next year the value of Tate's townhouse will go down. Based on the time frame, they are looking at reducing the value by $50,000 already and that is probably reasonable. O'Connor pointed out that foreclosures in a townhome development are different than single-family homes. There is a far greater affect when there are nine houses sitting together that are in foreclosure. O'Connor said this is a huge impact and it is very obvious that there is no sod there and no one will buy in this development. O'Connor said she feels $415,000 or$420,000 would be a more realistic value. MOTION: Motion was made by O'Connor, seconded by Duoos, to reduce the estimated market value to $415,000 for the property located at 9411 Libby Lane. The motion carried 5-0. Appeal No. 35 —Stew Stender, 12221 Chadwick Lane MOTION: Motion was made by Duoos, seconded by O'Connor, in Appeal No. 35 to reduce the estimated market value to $875,000 for the property located at 12221 Chadwick Lane. The motion carried 5-0. Appeal No. 36 —Richard Musser, 16100 Baywood Lane BOARD OF APPEAL AND EQUALIZATION MINUTES April 29, 2008 Page 11 MOTION: Motion was made by Johnson, seconded by O'Connor, in Appeal No. 36 to affirm the estimated market value of$440,400 for the property located at 16100 Baywood Lane. The motion carried 5-0. Appeal No. 37 —ALS West, Inc., 7513 Mitchell Road MOTION: Motion was made by Duoos, seconded by Johnson, in Appeal No. 37 to affirm the estimated market value of$4,420,000 for the property located at 7513 Mitchell Road. The motion carried 5-0. Appeal No. 38 —LaJaun & Cheryl Willis, 12455 Cockspur Court MOTION: Motion was made by Duoos, seconded by O'Connor, in Appeal No. 38 to reduce the estimated market value to $315,000 for the property located at 12455 Cockspur Court. The motion carried 5-0. Appeal No. 39 —Glenn & Marcia Ehorn, 17529 Hackberry MOTION: Motion was made by Duoos, seconded by Best, in Appeal No. 39 to reduce the estimated market value to $525,000 for the property located at 17529 Hackberry Court. The motion carried 5-0. Appeal No. 40—Michael & Corrine Fritz, 17531 Hackberry Court MOTION: Motion was made by Best, seconded by O'Connor, in Appeal No. 40 to reduce the estimated market value to $500,000 for the property located at 17531 Hackberry Court. The motion carried 5-0. Appeal No. 41 —Eric Kang, 8163 Antrim Cove MOTION: Motion was made by O'Connor, seconded by Best, in Appeal No. 41 to reduce the estimated market value to $465,000 for the property located at 8163 Antrim Cove. The motion carried 5-0. Appeal No. 42 —Thomas Kuenzli, 16450 Valle MOTION: Motion was made by Duoos, seconded by Best, in Appeal No. 42 to reduce the estimated market value to $330,000 for the property located at 16450 Valley Road. The motion carried 5-0. Appeal No. 43 —Jennifer Karner, 10284 Meade Lane MOTION: Motion was made by Johnson, seconded by O'Connor, in Appeal No. 43 to affirm the estimated market value of$626,900 for the property located at 10284 Meade Lane. The motion carried 5-0. BOARD OF APPEAL AND EQUALIZATION MINUTES April 29, 2008 Page 12 Appeal No. 44 —Ullas Kamath, 7017 Beacon Circle MOTION: Motion was made by Best, seconded by Duoos, in Appeal No. 44 to reduce the estimated market value to $335,000 for the property located at 7017 Beacon Circle. The motion carried 5-0. Appeal No. 45 —Avis Larson, 6284 Cranberr, Lane MOTION: Motion was made by Duoos, seconded by O'Connor, in Appeal No. 45 to reduce the estimated market value to $250,000 for the property located at 6284 Cranberry Lane. The motion carried 5-0. Appeal No. 46 —Paul and Ann Drach, 17061 New Market Drive MOTION: Motion was made by Best, seconded by O'Connor, in Appeal No. 46 to reduce the estimated market value to $425,000 for the property located at 17061 New Market Drive. The motion carried 5-0. Appeal No. 47 —Atia Ibrahim, 11230 Lanewood Circle MOTION: Motion was made by Johnson, seconded by Best, in Appeal No. 47 to reduce the estimated market value to $275,000 for the property located at 11230 Lanewood Circle. The motion carried 5-0. C. Si2n Board of Appeal and Equalization Documents III. ADJOURN 2008 BOARD OF APPEAL AND EQUALIZATION MEETING MOTION: Motion was made by Johnson, seconded by Best, to adjourn the Board of Appeal and Equalization meeting. The motion carried 5-0 and the meeting was adjourned at 10:00 p.m.