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One final note in this method is that it is extremely important thal all of the data submitted into
<br />the computer system be very accurate. If there are substantial problems in the accuracy of the
<br />physical descriptions of the properties, be it square footage of garages or various other
<br />amenities, these values can be distorted. Therefore, it is essential that this dala be correct. For
<br />the most part, especially in residential properties in the City of Ramsey, most of the data
<br />collected in lhe past was very good.
<br />
<br />Now that I have explained the methodology of how the improvement values were arrived at in the
<br />City of Ramsey, the next step is to explain the valualion of land in the City of Ramsey. We'll
<br /> , this by going through each zone individually showing the lot sales in each zone and
<br />analyzing the data to arrive at an indicated value per lot and/or acreage.
<br />
<br />I'll start by explaining the evaluation for Zone 1. Zone 1 is the land zone comprised of the
<br />neighborhood of properties on the Mississippi and Rum Rivers, Lake Itasca in Northfork
<br />Addition and on Sunfish Lake. These land values are all similar in nature due to their locations
<br />on very desirable, residential lots in the City of Ramsey. The following is a tabulation of all the
<br />lot sales in Zone 1 in 1989:
<br />
<br />PIN # SALE ADJ. SIZE SIZE S/ACRE $/SF ILND WDED LEGAL
<br /> DATE PRICE ACRES SQ.FT. [2~IG S&W
<br />ZONE 1
<br />1924220006 5-Jun-89 $76,000 3.90 169,884 $19,487 $0.45 SFR W L5B1 STANHOPE RVR. HILLS
<br />1125410015 28-Jul-89 $54,000 1.50 65,340 $36~000 $0.83 PUD LgB5 RUM RIVER HILLS
<br />
<br /> 1325240006 1 5-Au,a,-89 $32~627 2.50 108,900 $13,051 $0.30 SFR LIOB6BARTHELSRMRVR2N£
<br /> 1325240007 19-Apr-89 $49,947 2.20 95,8321 $22,703 $0.52 SFR LllB6BARTHELSRMRVR2NB
<br /> 1825430005 15-Oct-89 $34~000 1.95 841700 $17,436 $0.40 PUDI W L4B3NORTHFORK2ND
<br /> 19251 20007 1 5-Ma,v-89 $77,000 8.00 348 480 $77~000 $0.22 PUDl L12&13 NORTHFORK 2ND
<br /> 25251 20060 31-Oci-89 $47,000 0.62 26,950 $75,806 $1.74 SFR S&W L2B6 RIVERS BEND
<br /> 25251 20069 5-Oct-89 $44~500 0.47 20.430 $94,681 $2.18 SFRI S&W L11B6 RIVERS BEND
<br /> 25251 30030 15-Au.o-89 $45,000 0.42 18~480 $107~143 $2.44,,SFRI S&W L28B6 RIVERS BEND
<br /> 2525420019 1-Apr-89 $47,500 0.53 23~100 $89,623 $2.06 ISFR! S&W
<br /> L46B6
<br /> RIVERS
<br /> BEND
<br /> 2825330015 12-A,Dr-89 $62,500 2.69 117.100[ $23,234 $0.53 ISFRI L8B3ALPACA ESTATES3RD
<br /> 30251 40031 8-Jui-89 $48,300 0.77 33,600! $62,727 $1.44 SFRi 1_26 BOWERS MISS. ACRES
<br /> 30251 40033 26-Jun-89 $62,000 1.08 47.0401 $57,407 $1.32 SFR! WI L1B1 MYRDALESTATES
<br /> 3525320040; 15-Au.o-88 $45,000 0.63 271550i $71~429 $1.63 SFR! SWW L1B2BULOWSADDN
<br /> 3525320041 15-Au,0,-88 $43,000 0.67 29,2501 $64,179 $1.47 ISFRI SVWV L2B2BULOWSADDN
<br />AVERAGES ZONE1 $51;225 1.86 81~109J $55;460 $1.17 ! [
<br />
<br />7
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