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<br />JEFFERSON COUNTY BOARD OF EQUALIZATION <br /> <br />A.C. Dalgleish <br />David G. Douglas <br />Archie L. Barber, Jr. <br />James A. Deleo <br /> <br />Chairman <br />Vice-Chairman <br />Member <br />Alternate <br /> <br />MINUTES <br /> <br />21 JULY 1986 <br /> <br />The Board of Equalization convened at 9:00 A.M. The Full Board and Clerk were <br />present. <br /> <br />BOE-86-007-R / Parcel No. 989-711-005: Melburn Beuter appeared before the Board <br />and stipulated that the parcel was purchaed on 1-14-86 for $85,000; that he is <br />making an addition on the fr0nt of the house and on the upper floor; that the <br />Lot extends over the face of the bluff; and that the property is over-valued <br />by $11,795. <br />The Assessor pointed out that the parcel is a Lot 90 feet wide with a view of the <br />bay; acknowledged the the 1986 valuation represents a 54% increase over the 1981 <br />valuation. The Board will have to view comparable properties on the bluff. <br /> <br />BOE-86-008-R / Parcel No 940-500-079: G. Ward Givan was present at the hearing <br />and stipulated that the parcel was purchased on 2-27-84 for $75,000 and that he <br />received an appraisal by Helen Hedgen on 1-16-86 setting the valuation at $60,200 <br />on which he bases the appeal. <br />The Assessor reported that the valuation was based on the cost approach and the <br />appraisal was based on market value; that the appraiser applied a 10% depreciation; <br />and that the appraisal be considered valid as an adjusted valuation. <br /> <br />BOE-86-009-R I Parcel No. 965-202-005: Sven-Lasse Lassen was not present at <br />the hearing. This petition delt with the valuation of time-share units in the <br />Kala Point Village condominiums. The petition stipulates that a single time-share <br />was purchased for $10,500 on 3-7-80 and presented comparables of cost of other <br />time-shares in the village.. . <br />The Assessor presented evidence of sales in these units 1983-1986, pointing out <br />that there were forty units with 12 potential sales -- 480 sales inall. <br />Of the 53 sales recorded, the sales in 85-86 indicate a 15% reduction below <br />valuation set in 1984. It was recommended the following factors be considered <br />in making blanket adjustments to this development. <br />1) All units carry a valuation of $1,500 for land. <br />2) There are 38 units to be considered; <br />Units 1-18: Odd units (lower) -- Reduce Improvements $9,750 to $8,000 <br />Even units (upper) -- Reduce improvements $12,000 to $10,000 <br />Balance units 19-38 are single story: <br />19-32 -- Reduce improvements $13,000 to $11,000 <br />33-38 -- Reduce improvements $14,000 to $12,000 <br />The Assessor and the Board should move toward equalized adjustments on this <br />condominium development. . <br />