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041403 CC WS2 Min '\., . . . CITY OF SHOREWOOD CITY COUNCIL WORK SESSION MONDAY, APRIL 14,2003 5755 COUNTRY CLUB ROAD COUNCIL CHAMBERS 6:30 P.M. MINUTES 1. CONVENE WORK SESSION MEETING Mayor Love called the Work Session meeting to order at 6: 3 9 P.M. A. Roll Call Present: Mayor Love, Council Members Garfunkel, Lizee, Turgeon, and Zerby; Administrator Dawson; Engineer Brown; Finance Director Burton; and Planning Director Nielsen Absent: None B. Review Agenda Administrator Dawson stated that this meeting was a meeting of the COlmcil rather than a Board of Review meeting since the Board has 20 days from the time that it first meets tmtil it must conclude its business. The Council will still be able to hear what the Board of Review will be considering next week. 2. PRESENTATION OF PRE-BOARD OF REVIEW REPORT BY HENNEPIN COUNTY ASSESSOR'S OFFICE REPRESENTATIVE BILL DAVY Senior Assessor Bill Davy stated that it was his second year in being directly involved with tlle assessment for the City of Shorewood. He also stated that the Council should have received the sales book that included the growth report. The growth report measures actual sales and this sale study period began from October 1, 2001 and ended on September 30, 2002. In October, the Hennepin County Assessor's Office ran fall ratio studies and compared those actual sales to what they had been valued at as of January 2, 2002. Then the sales are adjusted based on the comparison results, along with all similar properties, in order to create the growth reports. Senior Assessor Davy reported that residential lake shore properties were adjusted approximately 15% and residential off-lake properties were adjusted 8.1 %. The overall rate of adjustment for the City of Shorewood was 10.9%, which included townhouses, double bungalows, and all properties. Mayor Love stated that he was impressed by these reports. Mayor Love asked how property values in nearby cities like Excelsior and Tonka Bay could rise compared with the property values in the City of Shorewood. Senior Assessor Davy suggested that the differing property values could be due to what information the individual assessor analyzes for actual sales. He stated that it was not tmusual for rates to be 4% or 5% higher in a certain community as opposed to the rate of neighboring communities. He also stated that there was more adjustment regarding differential in communities last year. For example, Tonka Bay had a 24% adjustment rate last year while this year the adjustment rate was not so drastic. Council Member Garfunkel questioned if the property was valuated by commtmity or by region. Senior Assessor Davy clarified that it was determined by the community. He also stated that the existing assessment was important in determining the adjustment rates for each year. .. . CITY COUNCIL WORK SESSION MEETING MINUTES APRIL 14, 2003 Page 2 of 2 . Council Member Garfunkel asked what happens to the adjustment rate when few home sales occur. Senior Assessor Davy stated that the Assessor's Office tried to look at and compare the adjustment rates of the surrounding communities when one particular community itself did not have a lot of home sales. Council Member Lizee asked whether the sales report booklet included the total number of home sales in Shorewood for this year. Senior Assessor Davy stated that there were 90 home sales included out of 259 total, which is 4% of the City. These figures excluded improvements that were made to the parcels as this required an explanation of the improvements. The average cross-sample amount for the sale of a home in Shorewood was $200,000 to $300,000. Council Member Zerby asked how many inquires have been received this year. . Senior Assessor Davy reported that the office had received 109 phone calls since value notices were mailed around March 11,2003. The number is a typical amount when compared with the 100 calls from last year. Not all of the phone calls were complaints as there were some general questions concerning the market and limited market value. Of the 109 properties, the County Assessor's Office reviewed 51 with an interior inspection. Of the 51 properties that were reviewed, 18 received a reduction in value while 33 had no change. Last year, 13 people appeared before the County Assessor's Board and this year they were not anticipating any more as his best estimate would be 12 to 15 people. Typically, they receive 2 or 3 walk-ins that have never called before or talked to an assessor prior to the County Assessor's Board Meeting on next Monday. Council Member Zerby asked how a house that was primarily located in a neighboring town but still had some land in Shorewood would be assessed. Senior Assessor Davy stated that such a home would be assessed based on where the primary parcel of land is located and he suggested that the best assessment of such a property could be achieved by the owner contacting the assessor's office for both Shorewood and the neighboring town and coordinating with them. 3. ADJOURN Zerby moved, Garfunkel seconded, adjourning the Pre-Board of Review Work Session of Ap1'i114, 2003, at 6:50 P.M. Motion passed 5/0. SUSAN FISCHER Recording Secretary RESPECTFULL Y SUBMITTED, Woody Love, Mayor .