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Home My WebLink AboutM032014• 0 Dave Gating Henry Krist Michael Smith 1820 Jefferson Street P.O. Box 1220 Port Townsend, WA 98368 Dave Gering MINUTES March 20, 2014 Henry Krist Michael Smith Chairman Vice - Chairman Member Chairman Dave Gating called the meeting to order at 9:30 a.m. in the presence of Vice - Chairman Henry Krist and Member Michael Smith. PETITION WITHDRAWAL Member Smith moved to accept the following petition withdrawal. Vice - Chairman Krist seconded the motion which carried by a unanimous vote. APPELLANT Neil & Diane Wheatley David Lawrence 331 Rainier Lane Port Ludlow, WA 98365 APPEAL NO. BOE 13 -30 -R HEARINGS BOE: 13 -62 -LO PARCEL NO. 937 600 005 PN: 962 700 036 David Lawrence was unable to attend the hearing. Kathleen LaBelle attended as a representative for the appellant. Appraiser John Pray represented the Assessor's Office. After explaining the hearing process Chairman Gating swore in both parties. Under appeal is an unimproved parcel located in the Oak Hills Subdivision (Tract 28 of Irondale Acre Tracts). Currently, the property is assessed at $201,120. The appellant estimates the value to be $85,000. The appellant's representative stated that the information provided by the appellant is complete. However, she converted the appellant's data into percentages. With permission of the Assessor's representative, she provided the following documents to the Board: Table 1.1— Percentage Relationships of Fair Market Value and Assessed Value; and Table 1.2 — Percentage Analysis of Listing Prices since Seller's Original Purchase Price. She testified that the previous owner purchased Phone (360)385 -9100 Fax (360)385 -9382 jeffbocc@co.jefferson.wa.us Board of Equalization Minutes — March 20, 2014 Page: 2 the property in 2006 for $249,500 then listed it for sale in December 2012 for $139,500 or 44% lower than the original purchase price. The listing price was reduced two (2) more times for a total reduction of 66% before it was purchased by the appellant in November 2013 for $85,000. She noted that the appellant believes a reduction in value is warranted for the following reasons: Incursion of a road across the SW comer of the property and the presence of wetlands limit approximately 26% of the property. Appraiser Pray stated that the appellant's property was valued as of January 1, 2011. Values were reduced approximately 20% in this area during the revaluation cycle. He recently revisited the appellant's property and determined that the value is similar to the appellant's comparable property that sold for $130,000 in August 2011. He recommends reducing the appellant's value to $130,000. Chairman Gating asked if a reduction in value was given to the appellant's property for the road incursion and wetlands? Appraiser Pray replied that he did not give a reduction for the negative impacts of the road incursion and wetlands. Hearing no further testimony, Chairman Gating closed the hearing. The Board will make a determination at a later date. HIemp Joint Trust BOE: 13 -61 -R PN: 977 700 111 Dan & Ann HIemp, Trustees 17 Windy Way Yachats, OR 97498 Dan and Ann Klemp were present. Real Estate Agent Barbara Blowers was also present and represented the appellants. Appraiser John Pray represented the Assessor's Office. After explaining the hearing process Chairman Garing swore in all parties. Under appeal is an improved high bank waterfront parcel located at 182 Renier Road, Nordland. Currently, the property is assessed at $459,110 ($385,270 for the land and $73,840 for the improvements). The appellants estimate the value to be $323,840 ($250,000 for the land and $73,840 for the improvements). Ms. Blowers stated she specializes in water front properties. She said Marrowstone Island properties are not comparable to the sale of properties located in Port Townsend as used by the Assessor's representative. When researching comparable property sales she looked for properties that have had a Site Plan Advanced Approval Determination ( SPAAD). The appellants' property has a SPAAD which is similar to a building permit and outlines the setbacks from the shoreline and ensures the view from a high bank property. A SPAAD is good for five (5) years. A bare land parcel on Marrowstone Island sold for $110,000, however, this property did not have a SPAAD and with the new shoreline regulations the owners will not be able to develop the property. She discussed comparable property sales that occurred in 2013 ranging in price from $165,000 to $319,000. The appellants testified that there are three (3) wetlands on the property which leaves little useable land. Appraiser Pray clarified that the comparable property sales he used to value the appellants' property were not located in Port Townsend. They were located on or near Marrowstone Island. He reviewed the following comparable property sales: Board of Equalization Minutes — March 20, 2014 Page: 3 Comparable Property #1 Parcel No.: 976 200 705 Location: 2330 E. Marrowstone Road, Nordland ( Marrowstone Island) Value: $245,000 Sale Date: March, 2010 Sale Price: $265,000 Comparable Property #2 Parcel No.: 962 700 097 Location: 102 Cleveland Street, Port Hadlock ( Marrowstone Island) Value: $156,000 Sale Date: November, 2010 Sale Price: $190,000 Comparable Property #3 Parcel No.: 952 200 005 Location: 200 Beach Drive, Port Hadlock (View of Marrowstone Island) Value: $394,000 Sale Date: June, 2011 Sale Price: $468,000 Trending of recent Marrowstone Island property sales indicate that the value of waterfront properties will be reduced in 2014. A mobile home was placed on the property after the land was valued as of January 1, 2011. The Assessor revalued this improvement as of July 31, 2013 at $73,840. The value of the land remained unchanged at $385,270 for a total property valuation of $459,110. The appellants stated they have a map showing the wetlands that are located on their property and would like an opportunity to submit that information to the Board prior to a determination. Chairman Gazing stated that the appellants will be allowed to submit additional information regarding wetland and buffer restrictions to the Clerk who will then provide a copy to the Assessor's Office. If the Assessor's representative has no objection to the additional information then the Board will be given copies. This hearing will be continued pending further information from both parties. PTBP, LLC. Mark Zenger P.O. Box 1449 Edmonds, WA 98020 -1449 BOE: 13 -38 -LO thru 13 -57 -LO Mark Zenger was not present. Appraiser Charley Hough represented the Assessor's Office and was sworn in by Chairman Garing. Under appeal are twenty unimproved parcels located in the Port Townsend Business Park, Port Townsend. Board of Equalization Minutes - March 20, 2014 Page: 4 Following is the current assessment and the appellant's estimate of value for the parcels under appeal: BOE No. 13 -38 -LO 13 -39 -LO 13 -40 -LO 13 -41 -LO 13 -42 -LO 13 -43 -LO 13 -44 -LO 13 -45 -LO 13 -46 -LO 13 -47 -LO 13 -48 -LO 13 -49 -LO 13 -50 -LO 13 -51 -LO 13 -52 -LO 13 -53 -LO 13 -54 -LO 13 -55 -LO 13 -56 -LO 13 -57 -LO Parcel No. 989 800 015 989 800 017 989 800 018 989 800 019 989 800 020 989 800 021 989 800 022 989 800 023 989 800 024 989 800 025 989 800 026 989 800 027 989 800 028 989 800 029 989 800 030 989 800 031 989 800 069 989 800 070 989 800 072 989 800 073 Current Assessed Value $145,405 $104,160 $54,065 $54,065 $104,160 $54,065 $97,650 $71,610 $97,650 $83,175 $56,265 $76,725 $81,875 $108,810 $73,655 $111,600 $73,655 $74,290 $47,120 $47,120 Appellant's Estimate of Value $71,820 $57,460 $29,830 $29,830 $59,580 $29,830 $55,860 $40,960 $55,860 $51,000 $32,190 $43,890 $50,180 $62,240 $45,140 $63,840 $45,140 $48,560 $28,160 $28,160 The appellant indicated on all twenty petition forms the following reason for appealing the valuation of his parcels: "The Assessor, in its determination of `true and fair market value', did not: (i) accurately reflect the extremely low demand for vacant business park zoned land; (ii) include any adjustment for lack of marketability of multiple parcels; or (iii) correctly reflect all details of recent sale transactions including all associated costs. " The appellant indicated on each of his petition forms that he would submit additional documentary evidence to the Board of Equalization and the Assessor seven business days prior to the scheduled hearing. No additional evidence was received from the appellant. The Assessor's representative presented a tax parcel map of the immediate area, a copy of the appraisal worksheet, affidavits for each comparable property sale, and field sheets for each of the appellant's properties. He explained that the value of each lot within the business park was calculated at a base rate of $6.20 per square foot and additional adjustments were made where necessary. The Assessor's representative provided the following four comparable property sales in support of the assessed value of all the properties under appeal: Comparable Property 91 Parcel No.: 989 800 060 Location: 820 Lake Avenue, Port Townsend Value: $161,585 Sale Date: February, 2010 Sale Price: $105,000 Board of Equalization Minutes — March 20, 2014 Page: 5 Comparable Property #2 Parcel No.: 989 800 014 Location: 710 Park Avenue, Port Townsend Value: $297,955 Sale Date: July, 2011 Sale Price: $100,000 Comparable Property #3 Parcel No.: 989 800 071 Location: 851 Park Avenue, Port Townsend Value: $53,370 Sale Date: September, 2012 Sale Price: $60,000 Comparable Property 44 Parcel No.: 989 800 016 Location: 16 E. Park Avenue, Port Townsend Value: $60,315 Sale Date: April, 2013 Sale Price: $65,500 The Assessor's representative also noted that the combined assessed value for the 20 lots under appeal is $1,617,030 while the appellant has these properties listed for sale at a combined value of $2,446,252. Appraiser Hough stated that all the appellant's lots are flat and the majority of them have paved access and utilities. He feels the values are correct. NOTICE OF ADJOURNMENT Member Smith moved to adjourn the meeting at 10:52 a.m. Vice - Chairman Krist seconded the motion which carried by a unanimous vote. ATT eslie R. Locke, Clerk of the Board JEFFERSON COUNTY BOARD OF EQUALIZATION Dave G , C an Henry `Krisst, Vice-Chairman Michael Smith, Member