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<br />BOARD OF EQUALIZATION MINUTES - AUGUST 29, 2000 <br /> <br />Page 2 <br /> <br />given a 34% reduction for excess front footage, a 5% reduction for lack of power, a 5% reduction for depth, <br />and another 15% reduction for topography. <br /> <br />Hearing no further testimony Chairman Marlow closed the hearing. The Board will review all the information <br />submitted, conduct a physical inspection of the property and make a determination at a later date. <br /> <br />John Raymond/Susann Meyer <br />35 Park Place Court <br />Port Townsend, WA 98368 <br /> <br />BOE: 00-51-R <br /> <br />PN: 965 000 364 <br /> <br />Mr. Raymond was present. Appraiser Robert Kingsley represented the Assessor's office. After explaining the <br />hearing process Chairman Marlow swore them in. The property under appeal consists of a residence located at <br />35 Park Place Court (Kala Point), Port Townsend. Mr. Raymond stated that the roof on their house is a <br />composite design and there is currently a class action lawsuit against the company that manufactures this type <br />of roof, claiming the roofing materials are defective. The roof on their house is starting to curl and will need <br />to be replaced at a cost of approximately $20,000 - $25,000. If they were to sell the property any purchaser <br />would require that the roofbe replaced. The roof problem negatively affects the market value. He feels the <br />property value should reflect a reduction of $20,000 - $25,000 based on the cost to replace the roof The <br />current assessment is $240,900 ($39,700 forthe land and $201,200 for the improvements). Mr. Raymond <br />estimates the value to be $229,700 ($39,700 for the land and $190,000 for the improvements). <br /> <br />Mr. Kingsley stated that he is present on behalf of Assessor Jack Westerman who valued the appellant's <br />property and the surrounding area. According to Mr. Westerman's worksheets a reduction in value of$5,000 <br />was given to all the properties in the area that have improvements with this type of roof It is believed that the <br />manufacturer would pay a portion of the cost to replace the roof once a claim is filed. Mr. Kingsley presented <br />information on listing prices for property being marketed in the area as well as a sales chart listing all the sales <br />which have occurred in the area within the last four years. This chart was used in valuing this property. <br /> <br />Discussion ensued regarding the problems with this type of roofing that was used on various houses in the <br />area. Mr. Raymond added that there are strict covenants in Kala Point which only allow the use of certain <br />types of roofing materials. He noted that an asphalt type roof would not be allowed and the types that are <br />allowed are high in cost. <br /> <br />Hearing no further testimony Chairman Marlow closed the hearing. The Board will consider all the <br />information provided, conduct a physical inspection of the property and make a determination at a later date. <br /> <br />Discovery View Associates <br />c/o Property Research Ltd., W. Scott Phinney <br />1 Mt. Jefferson Terrace <br />Lake Oswego, OR 97035 <br /> <br />BOE: 00-64-C <br /> <br />PN: 948332903 <br /> <br />No representative was present on behalf of Discovery View Associates. Appraiser Bob Shold represented the <br />Assessor's office and was sworn in by Chairman Marlow. The property under appeal is a low-income housing <br />project consisting of 48 units located at 105] Hancock Street, Port Townsend. The appellant wrote on the <br />