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Home My WebLink AboutM081612s ok EQU4Z O Dave Garing Mike Smith Henry Krist 1820 Jefferson Street P.O. Box 1220 Port Townsend, WA 98368 Dave Gering Henry Krist MINUTES August 16, 2012 Michael Smith Chairman Vice- Chairman Member Chairman Dave Garing called the meeting to order at 10:00 a.m. in the presence of Vice - Chairman Michael Smith and Member Henry Krist. HEARINGS Elizabeth Blake BOE: 12 -02 -LO PN: 972 904 603 128 Woodland Avenue Port Townsend, WA 98368 Elizabeth Blake was not present. Appraiser Charley Hough represented the Assessor's Office and was sworn in by Chairman Garing. Under appeal is the land value of property located at 56th Street and Wilson Street, Port Townsend. Currently, the property is assessed at $135,000. The appellant estimates the value is $75,000. On the petition form the appellant wrote the following reason for appealing the valuation of her parcel: "Tried to sell the lot for I year in 2010 and it did not get 1 offer. Listed $123, 000 any offer acceptable to submit. Other lots —double were 110, 000. Now trying to sell for $85,000— No interest. Also, previous owner & girlfriend put additional latecomer fee which makes value less because realtor tried to sell it saying no late fees". Appraiser Hough informed the Board that the comparable sales used by the appellant were not located in the same area as the subject property. The appellant purchased the property in 2004 for $92,000. He then reviewed the following comparable sales: Comparable Property #1 Parcel No.: 972 903 401 Location: Montana Addition, Block 34, Lots 1 & 3 Value: $125,000 Sale Date: April, 2005 and April, 2012 Sale Price: $125,000 (Both Sales) Phone (360)385 -9100 Fax (360)385 -9382 jeftbocc&o.jefferson.wa.us Board of Equalization Minutes - August 16, 2012 Page: 2 Comparabl Parcel No.: Location: Value: Sale Date: Sale Price: Property #2 972 904 003 Montana Addition, Block 40, Lot 2 $85.000 September, 2007 $120,000 Comparable Property #3 Parcel No.: 972 902 502 Location: Montana Addition, Block 25, Lots 2 & 4 Value: $105,000 Sale Date: November, 2009 Sale Price: $107,000 Comparable Property 44 Parcel No.: 972 901 501 Location: Montana Addition, Block 15, Lots 1 through 8 Value: $165,000 Sale Date: April, 2010 Sale Price: $175,000 Appraiser Hough stated these properties have access to water and sewer but they are charged a latecomer fee for those services. The appellant's latecomer fee is $5,317.40 shown in Exhibit #13. Chairman Garing asked why the base land rate for the appellant's property is $150,000 and the comparable properties used by the Assessor's office have a lower base land rate, ranging from $85,000 to $100,000? Appraiser Hough responded that the appellant's property has a partial view and is closer to the water which makes it more valuable. He then presented a map showing the correlation of the water to the subject and comparable properties. Chairman Garing said the appellant indicated that the property was for sale for a year and Appraiser Hough responded that he could not find any record of it being listed. He added that the Port Townsend area will most likely see a decline in values during the next assessment cycle. In response to a question of whether the latecomer fee has an impact on the value, Appraiser Hough replied no, it does not. Hearing no further testimony, Chairman Garing closed the hearing. The Board will make a determination at a later date. Board of Equalization Minutes - August 16, 2012 Page: 3 John & Peggy Molsness BOE: 12 -06 -R PN: 972 903 905 1070 55th Street Port Townsend, WA 98368 John Molsness was present. Appraiser Charley Hough represented the Assessor's Office. After explaining the hearing process Chairman Garing swore in both parties. Under appeal is the land and improvement value of property located off of 55th Street, Port Townsend. Currently, the property is assessed at $292,810 ($135,000 for the land and $157,810 for the improvements). The appellants estimate the value is $250,000 ($100,000 for the land and $150,000 for the improvements). Mr. Molsness testified that in May 2011 he and his wife refinanced their home and during that process an appraisal was performed indicating the value of their property is $250,000. He appreciates the information provided by Appraiser Hough, however he feels the independent appraisal value of $250,000 is correct. Appraiser Hough informed the Board that the appellant's property consists of two lots and the home was built right down the middle of both lots, making it only one building site. The assessment date for this parcel is January 1, 2009 and he feels the assessed value is correct. The independent appraisal lists the quality of construction for subject property as average plus and the comparable property is listed as superior. The point being that the independent appraiser has no idea what the quality of construction is and uses that number to adjust to the value he needs. Appraiser Hough then reviewed the following comparable sales: Comparable Property #1 Parcel No.: 972 903 501 Location: Montana Addition, Block 35, Lots 1 & 3 Value: $352,980 Sale Date: October, 2009 Sale Price: $341,500 Comparable Property #2 Parcel No.: 972 903 101 Location: Montana Addition, Block 31, Lots 5 & 7 Value: $336,015 Sale Date: November, 2009 Sale Price: $377,000 Board of Equalization Minutes - August 16, 2012 Page: 4 Comparable Property #3 Parcel No.: 972 902 502 Location: Montana Addition, Block 25, Lots 2 & 4 Value: $105,000 Sale Date: November, 2009 Sale Price: $107,000 Comparable Property #4 Parcel No.: 972 901 501 Location: Montana Addition, Block 15, Lots 1 through 8 Value: $165,000 Sale Date: April, 2010 Sale Price: $175,000 Comparable Property #5 Parcel No.: 972 903 401 Location: Montana Addition, Block 34, Lots 1 & 3 Value: $125,000 Sale Date: April, 2012 Sale Price: $125,000 Appellant's Comparable Property #1 Parcel No.: 936 300 204 Location: Broadway Addition, Block 2, Lots 6 & 7 Value: $266,770 Sale Date: November, 2010 Sale Price: $283,500 Appellant's Comparable Property #2 Parcel No.: 936 300 511 Location: Broadway Addition, Block 5, Lot 12 Value: $207,815 Sale Date: February, 2011 Sale Price: $240,000 Appellant's Comparable Property #3 Parcel No.: 999 400 002 Location: Woodland Addition, Lot 3 Value: $227,570 Sale Date: January, 2011 Sale Price: $236,500 Board of Equalization Minutes - August 16, 2012 Page: 5 Appellant's Comparable Property #4 Parcel No.: 948 302 301 Location: Eisenbeis Addition, Block 23, Lot 2 Value: $225,290 Sale Date: April, 2010 and June, 2011 Sale Price: $220,000 and $249,000 The appellant said that the comparable sales used by the Assessor's representative are bigger than his parcel and are not really comparable. The home was built in June, 1999 and at that time it cost approximately $65 per square foot to build. Using an annual increase of 2% each year the cost per square foot is now approximately $85 which is well below the current assessed value. Appraiser Hough responded to the appellant's concerns about the difference in the size of lots stating that those lots are only allowed one building site so it is comparable to the appellant's parcel. Vice - Chairman Smith explained the 4 -year cycle used by Jefferson County and informed the appellant that the assessed value is not changed outside of that timeframe. Hearing no further testimony, Chairman Garing closed the hearing. The Board will make a determination at a later date. Scott & Gail Sloan BOE: 12 -01 -LO PN: 948 002 816 13513 NE 5th Court Vancouver, WA 98685 Scott and Gail Sloan were not present. Appraiser Charley Hough represented the Assessor's Office and was sworn in by Chairman Gazing. Under appeal is the land value of property located off of Umatilla Avenue, Port Townsend. Currently, the property is assessed at $77,000. The appellants estimate the value is $25,000. On the petition form the appellants wrote the following reason for appealing the valuation of their parcel: "The identical sized lot next door (PN 948 002 807) is valued also as bare land, at $25,500. Our taxes are $650 1year 2011 and theirs is $215 1year 2011. In year 2009 the lot's taxes were identical at $100.34. The improved land on the other side, (PN 948 002 804), with a house on it has an improved land value of $80, 000 or $3, 000 more than our $77, 000 unimproved value. " Appraiser Hough informed the Board that when this area was developed all the parcels had access to utilities. The field sheet for the appellant's comparable #1 (Exhibit #8) shows a reduction of 50% for lack of sewer. That was an error on his part and will be corrected. The appellants purchased their property in 2008 for $89,000. He then reviewed the following comparable sales: Board of Equalization Minutes - August 16, 2012 Page: 6 Comparable Property #1 Parcel No.: 948 002 804 Location: 1026 Umatilla Avenue, Port Townsend Value: $267,150 Sale Date: February, 2007 Sale Price: $100,000 Comparable Property #2 Parcel No.: 948 002 818 Location: 1014 Umatilla Avenue, Port Townsend Value: $357,840 Sale Date: January, 2007 Sale Price: $94,500 ADpellant'S Comparable Property 41 Parcel No.: 948 002 807 Location: Dundee Place, Block 28, Lot 15 Value: $25,500 Sale Date: February, 2007 Sale Price: $4,500 In response to a request from Chairman Garing; Appraiser Hough explained the land code that will be used to correct the valuation error for the appellant's comparable property #1. Hearing no further testimony, Chairman Garing closed the hearing. The Board will make a determination at a later date. Member Krist moved to adjourn the meeting at 11:50 a.m. Vice - Chairman Smith seconded the motion which carried by a unanimous vote. ATT ST: e ARLFClerk Board JEFFERSON COUNTY BOARD OF UALIZATION Dave Garin , Ch irman Milo, Vice- Chairman Henry Krist, Member