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noted several lots that are slmlllar or larger in that same <br />vicinity which he felt were valued at a lower rate than his. Of the <br />two lots that sold down the street from him, his valuation is over <br />100 percent of what those lots sold for, but in the Stanhope River <br />Hills, the lots are valued $30,000 less than the sale of another <br />lot in that subdivision. He asked that he be treated fairly, that <br />Is on the same ratio of sale price to market value as In Stanhope <br />River Hills. <br /> <br />Mr. Keefe compared those lots, noting the differences. Also, in <br />Stanhope River Hills, only one lot has been sold, which was In <br />1989. That Is not necessarily an Indication of the market value <br />for lots in that area. The other lots are odd-shaped and have been <br />on the market for three to four years, plus 2-1/2 acres Is the <br />minimum lot size to build on the river lots. Mr. Keefe didn't <br />think the valuation on Mr. Ploeger's lot was at 100 percent of the <br />market value. Lot values have been Increasing at about 12 percent <br />a year. He stated the ratio of market value to assessed value is <br />the same, though there may be some error in Stanhope. <br /> <br />There was agreement between Mr. Ploeger and Mr. Keefe to discuss <br />this further, and Mr. Keefe will reassess Stanhope River Hills for <br />next year. No further Council action was taken. <br /> <br />Mr. Ploeger then stated he felt his house is appraised for more <br />than some of the others In the neighborhood that are larger with <br />more amenities. He felt he Is overappralsed and asked to have his <br />house reappraised. <br /> <br />Mr. Keefe stated the house is listed as a spilt level, but he would <br />have to look at it to determine the accuracy of the valuation. <br /> <br />It was agreed that Mr. Ploeger's house will be re-evaluated by a <br />county assessor. No further Council action was taken. <br /> <br />Mr. Ed Hamilton, 6615 Highway 10 NW, 34-32-25-12-0001 - stated he <br />is on the north side of the highway across from the Adult Book <br />Store. He asked If he is included in the area receiving the 25 <br />percent reduction In valuation. <br /> <br />Mayor Gilbertson explained his property on the north side wilt not <br />be included at this time, but the property he owns on the south <br />side that Is a part of Riverside West will be included. <br /> <br />Mr. Hamilton explained his valuation jumped 82.3 percent. His <br />property is valued at 45 cents a square foot, but properties on <br />both sides of him are valued at 35 cents a square foot. Plus there <br />is talk of putting sewer on the north side of the tracks, which <br />means additional assessments. He has already talked with Mr. Keefe. <br /> <br />BOARD OF REVIEW FOLLOW-UP/APRIL 10, 1991 <br /> Page 6 of 7 <br /> <br /> <br />