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The table on the previous page shows 15 land sales which took place in Zone 1 from August, 1988, to October, 1989. The average size of these lots would be 1.86 acres in size and have an average lot value of $51,225.00. The mode or most frequent lot value was approximately $45,000.00 and consisted of lots approximately one half acre in size with sewer and water available. The assessor used the mode to arrive at the base value for propertie', for Zone 1 by multiplying this value times 90%, an indicated value o! approximately $40,000.00. It was then concluded that the base value for the entire zone would be $39,000.00. The reason for using $39,000.00 as lhe figure of the base value is that on the tables used for land valuation purposes, increase and decrease in increments of 5% based on each lot's individual ,..,~aracteristics. For instance, a base lot is comprised of less than an acre in size would have a base value of $39,000.00. If that lot was in a superior location with walk-out potential, or some other amenity, its value could be adjusted at a market derived rate, say 10% which would leave an indicated value of that lot at $42,900.00. Conversely, a lot up at the north end et Ramsey on the Rum River, which would be a less desirable location than a lot with sewer and water in River's Bend could be given a valuation of 90% of the $39,000.00 .or approximately $35,000.00. Since there was a lot of sales on the river, it was a relatively simple task to determine the value of each individual lot. There were a few lots in the City of Ramsey on the Rum River and Mississippi which had a larger than normal lot size. The lot values in these areas were arrived at by first of all taking a base value for that area which normally would be one acre in size and adding the value of the additional acreage. For instance, additional acreage in a flood zone would be valued at a rate of approximately $200.00 to $300.00 per acre. Additional tillable acreage would be valued at an amount of approximately $1,700.00 per acre. The sum of the two values would indicate a lot value. When this method was compared I.o actual sales, it was found to be very accurate. One final point worth noting, is that sales which were prior to August, 1988, were also given consideration in determining lot values in all of the individual neighborhoods. The next zone to be discussed would be Zone 2. Zone 2 would be best described as those lots (with some of them having sewer and water) which were immediately off the Rum River or Mississippi River which exhibited higher values than other non-river properties. The following table is a tabulation of 18 sales which took place from January, 1989, to December, 1989 in Zone 2. 8