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ok <br />EQU44> <br />O <br />William S. Marlow <br />Richard A. Broders <br />James A. DeLeo <br />James A. DeLeo <br />MINUTES <br />November 29, 2004 <br />1820 Jefferson Street <br />P.O. Box 1220 <br />Port Townsend, WA 98368 <br />William S. Marlow <br />Richard A. Broders <br />Chairman <br />Vice -Chairman <br />Member <br />Chairman William S. Marlow called the meeting to order at 11:00 a.m. in the presence of Vice - <br />Chairman Broders and Member James A. DeLeo. <br />HEARINGS <br />Glen & Frances Peterson BOE: 04-29-R PN: 965 000 322 <br />182 Cedarview Drive <br />Port Townsend, WA 98368 <br />Mr. and Mrs. Peterson were present. Appraiser Robert Kingsley represented the Assessor's <br />office. After explaining the hearing process, Chairman Marlow swore in both parties. The <br />property under appeal consists of a residence situated on approximately % an acre located at 182 <br />Cedarview Drive, (Kala Point) Port Townsend. Based on recent sales, Mr. Peterson feels the <br />assessed value of their property should be lower. He presented sales of other properties in the <br />immediate area which support a value closer to $450,000. He noted that the Assessor's <br />documentation indicates that their basement is 100% finished, when in reality it has bare cement <br />floors and no plumbing. Basically, it is a workshop/storage/utility area. <br />Mrs. Peterson added that the basement is not a livable area. In fact, it is not accessible from <br />inside the house. It is only accessible through the garage. Other properties in the area which <br />have better views and nicer houses are assessed lower than their house and land. The appellant's <br />property is currently assessed at $494,215 (5137,500 for the land and $356,715 for the <br />improvements). Mr. and Mrs. Peterson estimate the value to be $450,000 ($124,250 for the land <br />and $325,750 for the improvements). <br />Mr. Kingsley explained that in valuing the property he used two of the comparable property sales <br />presented by the appellant. Land in the area is equitably valued. The differential between the <br />improvement values is primarily due to the difference in square footage among houses in the <br />area. He admits that the basement is overstated in the Assessor's records. <br />Phone (360)385-9100 Fax (360)385-9382 jeffboccaGc, <br />