HomeMy WebLinkAboutResolution - 359 - Village Reaction to the 1970 Assessment & Property Valuation - 08/07/1970 VILLAGE OF EDEN PRAIRIE
IaENNEPIN COUNTY , MINNESOTA
RESOLUTION NO. 359
A RESOLUTION STATING TIE VILLAGE OF EDEN PRAIRIE ' S
REACTION TO THE 1970 ASSESSMENT AND PROPERTY VALUATION
The Village Council of the Village of Eden Prairie, County of
Hennepin, Minnesota, brings to the attention of the Hennepin
County Commissioners the following facts concerning property
valuations in this village:
Exhibit "A" Letter dated November 29, 1.969 signed
by Rufus T. Logan, State of Minnesota,
Commissioner of Taxation, recommending
the Village of Eden Prairie equalize
valuations with standards of assessment
throughout the state by increasing
residential real. estate 35%.
Exhibit "B" Statistics developed following the
completion of. 1970 valuations . Note
the platted homestead increased 43 .1%
and other property categories from
( 68. 7% to 91.2% or an average overall
increase of 73.2%.
During the period from February through June our community
staff received 210 inquiries and complaints concerning new
valuations . At the Village Board of Review meetings an
additional 35 requests for adjustments were considered.
A review of sales valuations (comparison of actual property
sales to assessors 1970 valuations) analyzed 77 transactions .
1970 valuations were lower in 65 cases than the sales price
and higher in 8 cases . In 4 cases the sales price and 1970
valuation were identical.
We believe these facts point_ up the deficiencies, inadequacies
ar-1 inequities in both the present methods of assessment and
in the present property tax requirements.
We recognize and accept the need and desirability of equal
standards of assessment and valuation throughout the state,
however, we also point out the difficulty in determining
these values on a fair and equitable basis. Except in cases
where actual sales transactions are recorded we recognize
the human judgments involved in determining property appre-
ciation or depreciation, inflation, geographic differences
and adjacent land development and values plus many other
judgment values makes it most difficult for a county or even
local assessor to evaluate property with any high degree of
accuracy.
As a case in point, consider the 1970 valuations previously
mentioned: all but ten of these transactions occurred in
1969 and yet 1970 valuations were lower in 57 instances than
actual sale prices by amounts ranging from 9.4% to 0.6%.
i-THEREAS, the Office of the County Assessor did provide sub-
stantial assistance to the Village of Eden Prairie,
in establishing 1970 property valuations , and
WHEREAS, the local board of review is severely limited by
:Minnesota Statute as to the amount of adjustment
which may be made concerning property valuations ,
and
WHEREAS , the State of. Minnesota by letter dated November 29,
1969, recommended residential real estate valuations
in Eden Prairie be increased by 35%, and
WHEREAS, statistics developed from village and county tax
assessment figures reflect an increase of 43.1% for
platted homestead and higher amounts for other
I categories ,
NOW THEREFORE, BE IT RESOLVED, that the Village Council of
Eden Prairie requests the Hennepin County Board of
Equalization to equalize property values in the
Village of Eden Prairie by reducing by 18% residential
valuations to achieve an increase consistent with the
request made by the State of Minnesota, Commissioner
of Taxation.
BE IT FURTHER RESOLVED, that appropriate reductions also be
granted in accordance with the Stat-e' s request so
that categories other than platted homestead not be
penalized or taxed to any lessor or greater degree
than said platted homesteads .
ADOPTED BY UNANIMOUS VOTE, Tuesday July 28, 1970 .
DATED this seventh day of August, 1970 .
y�-� David W. Osterholt, Mayor
ATTEST: �yy`�tJ ��/ � Ry��
Edna M. Holmgren, Jerk
V4 J';
e n 0
d
r n e r c.1-y c 3 u n t y o If
the stao< 21,e r a oG 3 ',ec.s3Cz t a. I eL: V
Of t""Ie r_y1:OS of rea-, e-.-- .1--a-vro 1:)oen to YGI�r
L11 ','G'a�- C OU Z Y L. __ �
y a, r local a6sessors in ma-c-
county oi: -er -0
-970 r. J�I e -i
a" I classes o-' pro-)e]:z:Y
piality in the
TI u d
is a Eoal tc are IQ; -.1—
do""'n t"--C- -,,,- atutory -_-ho ,:,ust de-z;crr,, no the cur-
ren-,; val,,:--, of oacll pti-n of r e al i S a r-C., Th
Ca-1- t-ho adus-,.-
and a,_=sessors C,ell he s`.-ate- are
U - - L)
eta mar!-Cet value muz�t 'Je of of he estimated r-narl-:et
M t be ro-
vo,lue. i�ie rising nrLces of the -cost t_wro years also I-..us
fleeted in -the new zi s_�c-,-- n,7-.
I r. the 1970 LZI IS c,.:.r -,Dl , ef tjj�%.t the fo!", cha=cs
are needed to e q u a!-L e ",,,Our v.:.,`anon L w-i t- the s tandards Of ass a s si"Ien t.
throw;:out the star_
iie:.ic:c:a.`.•.,i i;;_.=� ��a,. • . � Ir_C:.�'t; .ce ?�7°
1.t you have conceri- J_n our recommendations , we :'rill be hap-
p y to al iscuss the levels of in your area with you. The work
of your assessor in the lc;'70 asoos:l;mon t should be given careful attention
by the 'boards of review and �_quaiization. t-Jl.ere improvements in the lev-
els of assessment's are atl;aiiie"' by local action . no char_-es need be nec-
essary in state equalization.
Very truly yours,
VILLAGE OF EDEN PkAIRIE
1969 - 1970
CO3'1PARISI0i'!
VALUATIOPIS
196;0 Increase Inc. 1970
Platted Hos-iiestad $2,454,146. $1 ,069,86-7. 43.I,, $3,524 ,013,
Unplatced liornestead (13,G5,9 3. 6c,?,817. 75.5°J 1 ,415,800.
01)en Land rJ99,3 )0. 632,752. 91 .2`o' 1 ,33S,132.
Industrial 762,738). 525,527. 1 ,2fi0,265.
flew Construction 560,427. 560 ,427.
( OCner 915,383. 719,677. 78.6 1 ,635,060.
�
Total ti5,637 ,630. S4,132,067. 73.2 `-3,769,Ei97•