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042505 CC Board of Review AgP " . . CITY OF SHOREWOOD BOARD OF REVIEW MONDAY, APRIL 25, 2005 5755 COUNTRY CLUB ROAD COUNCIL CHAMBERS 6:00 P.M. AGENDA 1. RECONVENE BOARD OF REVIEW MEETING A. Roll Call Chair Love Garfunkel Lizee Zerby _ Turgeon _ B. Review Agenda 2. APPROVAL OF MINUTES A. Board of Review Work Session Minutes of April 11, 2005 (Att. - Minutes) B. Board of Review Minutes of April 18, 2005 (Att. - Minutes) 3. CONSIDER ADJUSTMENTS TO APPELLANTS' V ALUA TIONS 4. SET DATE TO RECONVENE (IF NECESSARY) 5. ADJOURN CITY OF SHOREWOOD BOARD OF REVIEW WORK SESSION MONDAY, APRIL 11, 2005 5755 COUNTRY CLUB ROAD COUNCIL CHAMBERS 6:15 P.M. MINUTES 1. CONVENE BOARD OF REVIEW WORK SESSION ORAfl Chair Love called the meeting to order at 6: 16 P.M. A. Roll Call Present: Chair Love; Boardmembers Wellens, Lizee, Turgeon, and Callies, and Administrator Dawson Absent: None . B. Review Agenda Without objection from the Board, Chair Love proceeded with the only item on the Agenda for the evening. 2. PRESENTATION OF PRE-BOARD OF REVIEW REPORT BY HENNEPIN COUNTY REPRESENTATIVE Tom Kunik, Assessor 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. Mr. Kunik stated that there were 101 property sales last year. There were 23 lakeshore sales and 83 off-lake sales. Hennepin County requires that market values be at 95% of the sale price. The overall values increased 8% on average for the City. Mr. Kunik noted that the revaluation area included the northeast portion of the City and all townhouses, duplexes and twin homes. . Mr. Kunik noted a majority of calls were from residents concerned about the increase in limited market values and explaining that the limited market values will be phased out and in a few years would no longer be relevant for taxation purposes. Mr. Kunik noted that to determine and track land valuation, they have separated the City into neighborhoods. When sales happen, land values are adjusted as similar structures have similar values. Buildings are separated by quality and style, which allows the County to trend the sales for a certain quality and style and the increase percentage will affect structures that are similar. Mr. Kunik reiterated that land values tend to follow the local City trend and sales, and the building value follows the County trend and sales. Mr. Kunik also noted after addressing the resident calls and explaining the process, and in some cases making adjustments for property characteristic changes, most cases are considered resolved. :ft- J It . . City of Shorewood Board of Review Work Session April 11,2005 Page 2 of2 3. ADJOURN Wellens moved, Callies seconded, Adjourning the April 11, 2005, Board of Review Work Session at 6:55 P.M. Motion passed 5/0. RESPECTFULLY SUBMITTED, Shelley Souers, Recording Secretary Woody Love, Chair ATTEST: Craig W. Dawson, City Administrator/Clerk BOARD OF REVIEW CITY OF SHOREWOOD MONDAY, APRIL 18, 2005 5755 COUNTRY CLUB ROAD COUNCIL CHAMBERS 7:00 P.M. MINUTES DR fl 1. CONVENE BOARD OF REVIEW MEETING Chair Love called the meeting to order at 7:00 P.M. A. Roll Call Present: Chair Love, Boardmembers Callies, Lizee Turgeon, and Wellens; Administrator Dawson Absent: . None . Also present: City Assessors Kunik and Winge B. Review Alenda Wellens moved, Lizee seconded, Approvinl the Alenda as presented. Motion passed 5/0. 2. PRESENTATION BY HENNEPIN COUNTY ASSESSOR . Administrator Dawson explained the Council would be acting as a Board of Review for the evening to review valuation of properties established by Hennepin County Assessors. Tom Kunik and Rob Winge of the County Assessor's office were present this evening. Mr. Kunik noted valuation was determined as the amount informed buyers and sellers would pay for a particular piece of property, and stated the purpose of the meeting was to review values and make comparisons with other City properties. He went on to explain the assessors had received a number of inquiries regarding issues pertaining to limited market value increases on properties within the City. The limited market value on properties was in issue that was being phased out over a period of six to seven years that had begun in 2001. Chair Love reviewed the process for the evening. He also stated, should it be necessary, the next Board of Review Meeting would likely take place on April 25, 2004, at 6:00 P.M. at City Hall for further consideration of issues presented this evening. Mr. Kunik reviewed the duties of an assessor, noting their purpose was to provide an estimate of the market value of a property for taxation purposes. The market value was defined as the highest value a buyer and seller would pay for a property. Within the City of Shorewood, he explained, mean growth for lakeshore properties increased by 11.9% and off-Iakeshore properties by 6.7%. Mr. Kunik also explained the appeals process for residents, noting that the next level was the Board of Equalization in Hennepin County that took place the last two weeks in June. Chair Love thanked Mr. Kunik and Mr. Winge for their efforts, and noted this Board was the first step in the review process. .:it cl B CITY OF SHOREWOOD BOARD OF REVIEW MEETING MINUTES April 18, 2005 Page 2 of 4 3. APPEALS BY RESIDENTS Bob Manders, 6105 Rampart Court, P.I.D. 33-117-23-44-0040, stated he had spoken with Mr. Kunik prior to this meeting, but Mr. Kunik had not yet been able to view the property. He stated he had no problem with the value of his property; however, it had gotten out ofline with his immediate neighbors as it had increased by 17.9% in recent years. While he knew he was not allowed to have a change in a 2004 valuation, he thought the valuation should be reviewed as all neighborhoods houses had been built at the same time and there was a discrepancy. Chair Love suggested Mr. Manders meet with the assessors present to attempt to remedy the situation. . Dick Lundy and Lucille Goodwyne, 5525 Timber Lane, PID 34-117-23-22-0029, stated he had noticed on the Internet that his property's land value had been valued more than his neighbors despite his lot being smaller. He had spoken with Mr. Kunik prior to this meeting and Mr. Kunik had reduced the valuation by $102,000; however, he remained uncertain why his valuation continued to remain higher than several of his neighbors' properties. He noted several factors he believed would mitigate any increased valuation, and he was uncertain about the aspect of "effective" lakefront as explained by Mr. Kunik in earlier conversations. Mr. Kunik stated he had reviewed the property and believed his adjustment at this time was fair and the valuation was fair in terms of the current market. In response to Ms. Goodwyne's question, Mr. Kunik explained certain issues associated with site adjustments for lakeshore properties. Chair Love noted the purpose of this Board was to ensure a process had been followed and whether the posed valuation would resemble an open market transaction. Mr. Lundy and Ms. Goodwyne stated they would speak with Mr. Kunik further on the remaining issues of concern regarding their valuation. Boardmember Turgeon requested information be shared at the next meeting of the Board regarding effective lakeshore frontage versus actual frontage issues. . John Cross, Minnetonka Moorings Inc., dba Shorewood Yacht Club, 600 West Lake Street, PID 34- 117-23-21-0061, stated he would meet with Ms. Kim Jensen of the County Assessors Office regarding commercial valuation issues associated with his properties. He then shared aerial photos of his property taken in September 2004. He was concerned that there had been a discrepancy in the valuation of a wetland property, in an overall valuation of two sites, and in a lot that was not present in any survey information. Administrator Dawson explained that there was a slightly different process followed for commercial property valuations in that the property owner typically met with the County Assessor directly responsible for valuations of commercial properties. He suggested the Board await that report since Mr. Cross was meeting with Ms. Jensen in the morning. Scott and Vicki Young, 26865 Edgewood Road, PID32-117-23-22-oo21, stated they had met with Mr. Kunik in 2004 regarding the building valuation for their property. Mr. Young submitted a packet of information for Board review regarding their valuation. Mrs. Young explained that estimated market values had been provided through 2005, and she specifically noted the large number of area properties she believed similar to her property that had building values that were valued less than what their building CITY OF SHOREWOOD BOARD OF REVIEW MEETING MINUTES April 18, 2005 Page 3 of 4 valuation had been valued. She stated she did not believe the assessed valuation of $545,000 to be correct for their property. Mr. Kunik explained there were several houses in the neighborhood with different factors than what the Youngs had presented, and while he believed his valuation to be correct in this case, he would review the information submitted and reexamine those differences. Judy Tonolli, 25410 Mann Lane, PID 33-117-23-32-0013, stated she thought this meeting was to be informational, but she would like to meet with the assessor regarding the valuation for her property as the inside of her house had never been seen by an assessor. She agreed to contact Mr. Kunik to set up an appointment for an inside tour of her house. . John Unger, 4940 Shady Island Road, PID 33-117-23-31-0012, stated he believed his estimated market value to be quite high and he requested a review of his property assessment as he had the property appraised in the last year with a significant difference in value. Mr. Kunik explained that his recent experience had found that refinancing appraisals did not always reflect the highest price that a property could be sold for on the market; however, he would be willing to meet with Mr. Unger to further discuss the matter. He also stated most of the increase in Mr. Unger's case reflected an increase in land values. Chair Love noted a written appeal had been received from Glenn R. Kessel, 21095 Radisson Road, PID 35-117-.23-11-0078. 4. BOARD DIRECTION TO ASSESSOR Chair Love requested the assessors provide further direction to the cases discussed this evening and report back at the Reconvened Board of Review Meeting next week. . 5. ESTABLISH DATE FOR BOARD TO RECONVENE The Board had agreed to reconvene on April 25, 2005, at Shorewood City Hall at 6:00 P.M. for further discussion and review of these topics. Chair Love stated all residents heard this evening would receive notification of the reconvened Board of Review on Monday, April 25, 2005. Chair Love explained this was the last year that the Council would be acting as a Board of Review as next year the Board of Review would be handled at the County level. He thanked all parties present for their efforts and attendance this evemng. Turgeon moved, Callies seconded, Closing the Appeals Process, noting no further appeals would be taken after this evening, and also establishing April 25, 2005, at 6:00 P.M. at City Hall as the date to reconvene the Board of Review. Motion passed 5/0. . . CITY OF SHOIU.WOOD BOARD OF REVIEW MEETING MINUTES April 18, 2005 Page 4 of 4 6. ADJOURN Lizee moved, Wellens seconded, Adjourning the April 18, 2005, Board of Review meeting at 7:50 P.M. Motion passed 5/0. RESPECTFULLY SUBMITTED, Sally Keefe, Recording Secretary Woody Love, Chair ATTEST: Craig W. Dawson, City Administrator/Clerk