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year. He added that in the fall of 1989, the 4 in 40 policy has made it so his land can only be used for three homes. He feels that $2,500 an acre is a little optimistic. Mr. Keefe agreed to meet with him. Curtis Sorenson, 14347 Waco Street N.W., Ramsey (25-32-25-42-0014) stated that last year his assessed market value went up $10,000 and this year it went up $15,000. He stated if this is a trend, he'd have to move because he wouldn't be able to afford to pay the taxes. Mr. Keefe explained that besides the catch up, there has been inflation of land values along the Rum River in River's Bend Addition. He stated the houses aren't selling so he can't really base his decision on sales. He checked the listing prices hoping to find his assessed values too high, but unfortunately they are 10 to 15% higher which leads him to think his assessment is pretty close to correct. He stated he cannot make an adjustment until he has some sales to compare in the area. Mr. Sorenson stated that with the higher taxes, it makes the houses harder to sell. He feels the high taxes are unfair until the area is more developed. Mr. Keefe stated that until he has data to prove otherwise, he has to go with his original figure. He added that once the lots are full, the values will be reviewed and if the sales prices are down, the valuation will go down also. Lorraine Hanus, 14640 Nowthen Boulevard N.W., Ramsey (25-32-25-22-0001 and 25-32-25-23- 0001) stated she is questioning the value of her parcels. One parcel jumped from $34,000 to $74,600 and the other went from $4,300 to $10,500. There are five parcels total, but the other three lots had about a 10% increase. Mr. Keefe stated they should get together to check this out further. Jerry Kautto, 5660 - 140th Lane N.W., Ramsey (35-32-25-11-0011) stated it's hard to make ends meet and he's questioning why the property value has gotten so high. Mr. Keefe stated he and Mr. Kautto had talked before about a possible error on his property valuation and didn't have time to meet before the Board of Review meeting so they will set up a time to meet. Mr. Kautto suggested the yardstick measurement has to be improved as everyone's income doesn't keep up with the same yardstick. If sales are extremely high, and everyone in the surrounding area gets adjusted accordingly, it creates a hardship for a lot of people. He feels income levels should be taken into consideration. Mayor Gilbertson stated the market values, square footage and lot sizes are the only measuring device available. Mr. Keefe stated that as bad as people feel the system is, Minnesota probably has the best programs as there is not the homestead credit in a lot of other states. He stated there are also programs where lower income people are entitled to a tax refund. Sandy Porter, representing the property at 14760 Bowers Drive N.W., Ramsey (30-32-25-11- 0010) stated that the market value is up $3,800 and the taxes are up $255.00. Mr. Keefe stated the lot is on the river and is approximately one acre. The value of the land is $38,700 and the reason the taxes went up is because the valuation increased a great deal the year before. The value on that lot on the river was $16,200 in the 1989 assessment and last year the Board of Review/April 4, 1991 Page 7 of 8