04/21/03 Bd of Appeal Booklet - Laserfiche WebLink

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I City of Ramsey The 2003 Assessment I I ! I I I I i I I ! I I I I I The 2003 assessment should be a reflection of the 2002 market conditions. Sales of property are constantly analyzed to chart the activity of the market place. The Assessing staff does not create value; they only measure its movement. Assessing property values equitably is part science, part judgment and part communication skill. Training as an assessor cannot tell us how to find the "perfect" value of a property, but it does help us consistently produce the same estimate of value for identical properties. That after all, is the working definition of equalization. As of January 2, 2003, there were 7,856 parcels in the City. That is an increase of 575 parcels or 7.8% over the 2002 parcel count. This total includes: Commercial & Industrial 3.9% · 6,944 residential parcels · 389 exempt parcels · 307 commercial and industrial parcels · 209 agricultural parcels · 3 apartment/manufactured home park parcels · 4 utility parcels Distribution of Property Type (Parcel Accounts) Agricultural ~lApartment 2.7% 0.O% Exempt 5.0% Utility 0.1% esidential 88.4% Current state law mandates that all property must be re-assessed each year and physically reviewed once every four years. We also inspect all properties with new construction each year. During 2002, the Assessing staff appraisers viewed the geographic area outlined on the following page. There were over 2,262 properties reviewed including 162 new homes built in 2002. A map illustrating the 2003 quartile plus the planned 2004 area is presented on the following page. 4