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<br />Jefferson County Board of Equalization <br /> <br />TELEPHONE: 385.9100 <br />COURTHOUSE <br />P.O. BOX 1220 <br />PORT TOWNSEND, WASHINGTON 98368 <br /> <br />r"'/I~' ,:, '",< '~. <br />(\ ,c7 l.., .:~f~ ~ <br />, ,Ji~i>2> ~T--;~"";_~3~<~~f)'~',_j~~ <br />/f.4,",",' f~r' ~ "..,1.",.,., I ,/'.',;;it:ff.,," <br />~';{I;' ,,,:/,~ ~.....4L '. JI <br />rl) ',~."..' "'~m"~'/~""1'\ <br />'", ",:l,_., , "'''-'". .' ,...."", "",r" <br />.:, ~.+~' : ;1", .,,' """ -, ,~,; <br />"t." .P. 'd .," ' ",' .,,, <br />,'I' ~1t~"'_"'t,;4.-- , '111..,' '_ <,:1)1,-- <br />i!~;~'\&~l1/ L 'r;' ).l;~~ <br />:t~~~~;"-~:7<~~~~~'=~~~~ <br /> <br />JEFFERSON COUNTY BOARD OF EQUALIZATION <br />MINUTES <br />MARCH 10, 1997 <br /> <br />William S. Marlow <br />Richard A. Broden <br />James A. DeLeo <br /> <br />Chairman <br />Vice-Chairman <br />Member <br /> <br />Chairman William S. Marlow called the meeting to order at 9:30 a.m. in the presence of Vice- <br />Chairman Richard A. Broders and Member James A. DeLeo. <br /> <br />APPROVAL OF THE MINUTES <br /> <br />Vice-Chairman Broders moved to approve the minutes ofJanuary 8, 1997 as presented, Member <br />DeLeo seconded the motion which carried by a unanimous vote, <br /> <br />PORT LUDLOW (TEAL LAKE) PROPERTY VALUES <br /> <br />Jack Westerman and Jeff Chapman of the Assessor's office were present to discuss property <br />values in the development of Teal Lake located in Port Ludlow. Jack Westerman stated that <br />property in Port Ludlow was valued as ofJanuary 1, 1995. Owners of property located in the <br />Teal Lake area have recently experienced a market drop in regard to their property valuations. <br />While the 1995 valuations were based on late 1994 sales, there have been sales in the latter part of <br />1996 which are substantially lower than the 1994 sales. This brings up a question of whether the <br />1995 sales were incorrect or whether there has just been a market drop in this particular area? <br />The latter appears to be the case in this instance, since there were no 1996 appeals in this area and <br />only one appeal in 1995. <br /> <br />Chairman Marlow stated that without any appeals the Board in unable to unilaterally equalize <br />property. Jack Westerman agreed that at this point in time the Board may not be able to equali2e <br />the property, however, given over two years worth of data, the Assessor's office will be <br />requesting the Board equalize Teal Lake during the 1997 season. <br /> <br />Jeff Chapman stated that it is difficult to determine which date the property value should be based <br />on. The value is established as ofJanuary 1, 1995. Market values of both new homes and <br />existing homes in the area are decreasing. The Assessor's office does not dispute this fact, they <br />just need to determine where the accurate value lies. It is believed by the Assessor's staff that the <br />drop in the market is isolated to Teal Lake. While other areas indicate a stagnant market, Teal <br />Lake is the only area where values have actually decreased. <br /> <br />n <br />'-: 100% Recycled Paper <br />