Minutes - Council - 04/10/2006 - Board of Review

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Councilmember Cook explained that the valuations are trying to get closer to the market value. Councilmember Olson stated that the $300 in 2005 and $900 in 2006 I taxes - not valuations. Ms. Saatela stated they would definitely look into Mr. Reimann's tax numbers. Mayor Gamec stated that valuationEi are really going up. Mr. Reimann stated he thought the valuations were close to about 96%. City Administrator Norman stated that we were at one point but the market took a huge Jump. Ms. Saatela explained that on the years they do not actually assess someone's property, they use sales comps. Mr. Reimann felt that the valuation was not realistic and that taxes were getting too high. Mr. Leone explained that Mr. Reimann's valuation/taxes would be higher because of his commercial business. Mr. Reimann stated he was told that about an acre would be attributed to commercial. Councilmember Cook inquired of the County Assessors if there might be an error if his taxes went up so much when the City did not raise the taxes this year. Mayor Gamec suggested the County visit Mr. Reimann's property. The Assessors offered to set up an appointment to review Mr. Reimann's property. Kevin Hartman, 15591 Yakima stated he received an increase of 15% with 17 to 18% in 2010 and the talk is still about catch-up. He stated he asked a couple of Realtors to come to the meeting tonight but they could not make it. He referenced an article from the StarTribune, which stated that in Ramsey in 2005 there wen:: 498 transactions for a $226,000 median. In 2004, there were 561 sales for a $226,000 medial. It is down 11.23 % and the median sales price was flat. He did not see how 15, 17, 18% can keep going. We should be meeting that more quickly. Ms. Saatela replied that we may. Mr. Hartman stated he does not have a problem this year; however, if it keeps increasing 17%, he will be back. Board of Review - April.l 0, 2006 Page 2 of 4