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041204 CC WS1 Min . . . CITY OF SHOREWOOD CITY COUNCIL WORK SESSION MONDAY, APRIL 12, 2004 5755 COUNTRY CLUB ROAD COUNCIL CHAMBERS 6:00 P.M. MINUTES 1. CONVENE CITY COUNCIL WORK SESSION Mayor Love called the meeting to order at 6:02 P.M. A. Roll Call Present: Mayor Love; Councilmembers Lizee, Turgeon, and Zerby, and Administrator Dawson Absent: Councilmember Garfunkel B. Review Agenda Without objection from the Council, Mayor Love proceeded with the only item on the Agenda for the evenmg. 2. PRESENTATION OF PRE-BOARD OF REVIEW REPORT BY HENNEPIN COUNTY REPRESENTATIVE Bill Davy and Tom Kunik, Assessors from Hennepin County, presented a summary of the duties and responsibilities of the Board of Review, and of data relating to assessment growth issues for the City. Results of analysis of the 2004 adjustments for 2004 assessments noted a 5.2% increase in the residential lakeshore assessments for the City and a 6.9% increase for residential assessments off the lakeshore. Overall values increased for the City in the amount of 6.2%. Mr. Davy and Mr. Kunik both noted a majority of calls to their office were from residents concerned about the increase in limited market value shown on their property tax statements. Mr. Davy explained this 15% increase originated from legislation in 2001 providing yearly increases to the limited market value of properties until the year 2006 when property owners would be taxed on the estimated market value of their homes and the limited market value would no longer be relevant for taxation purposes. Mr. Davy also noted after explaining this legislation to residents most cases were considered resolved. Council thanked Mr. Davy and Mr. Kunik for their presentation this evening. 3. ADJOURN Lizee moved, Zerby seconded, Adjourning the April 12, 2004, Work Session Meeting at 6:26 P.M. Motion passed 4/0. RESPECTFULLY SUBMITTED, Sally Keefe, Recording Secretary Woody Love, Mayor