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HomeMy WebLinkAboutM040215ok Dave Garing Henry Krist Michael Smith 1820 Jefferson Street P.O. Box 1220 Port Townsend, WA 98368 Dave Garing Henry Krist Michael Smith MINUTES April 2, 2015 Chairman Vice -Chairman Member Chairman Dave Garing called the meeting to order at 9:30 a.m. in the presence of Vice -Chairman Henry Krist and Member Michael Smith. DISCUSSION AND POSSIBLE ACTION re: Equalization of Bare Land Property Values in Port Ludlow North Bay Area: The Board received 12 petitions to appeal the bare land values of property located in the North Bay area of Port Ludlow. Assessor Jeff Chapman met with the Board on March 30, 2015 and recommended that the Board that they equalize the values of 146 bare land parcels located in the North Bay area of Port Ludlow. Member Smith moved to request permission from the Washington State Department of Revenue to reconvene for the purpose of equalizing the values of bare land parcels located in the North Bay area of Port Ludlow. Vice -Chairman Krist seconded the motion which carried by a unanimous_ vote. DETERMINATIONS Per WAC 458-14-095(4), post hearing deliberations of the Board of Equalization are not recorded. The Board began post hearing deliberations at 9:35 a.m. At the conclusion of the deliberations the Board resumed the regular meeting at 12:05 p.m. and the following actions were taken. Ralph Zenger BOE: 14 -17 -LO PN: 990 600 272 190 Resolute Lane Port Ludlow, WA 98365 The appellant's property consists of an unimproved parcel located in the North Bay area of Port Ludlow. The property was assessed as of January 1, 2014 and is currently valued at $59,800. The appellant estimates the value to be $25,000. The appellant contends that sales of unimproved lots in the North Bay area do not support the assessed valuation. The Assessor's representative agreed that bare land sales do not support the assessed value, and submitted a list of bare land sales for 2013 and 2014 which support a January 1, 2014 value close to the value asserted by the appellant. Phone (360)385-9100 Fax (360)385-9382 jeffbocc&o.jefferson.wa.us Board of Equalization Minutes — April 2, 2015 Page: 2 The Assessor's representative explained that as the County valuation data was transitioned from a four year evaluation cycle to a software program utilizing annual statistical updates, a serious miscalculation was made. This error resulted in a problem specific to the North Bay area of Port Ludlow in which land was overvalued and improvements were undervalued. Consequently, the "total valuations" of improved property in North Bay were correct while valuations of vacant land were not. After careful consideration of all testimony and evidence, the Board of Equalization finds that a preponderance of the evidence supports a true and fair market value of $23,000. Vice -Chairman Krist moved to overrule the Assessor's valuation and reduce the land value from $59,800 to $23,000. Member Smith seconded the motion which carried by a unanimous vote. (See also minutes of March 2, 2015) Clarence & Katherine Garrison BOE: 14 -19 -LO PN: 990 603 205 3335 Avondale Place Philomath, OR 97370 The appellants' property consists of an unimproved parcel located in the North Bay area of Port Ludlow. The property was assessed as of January 1, 2014 and is currently valued at $112,125. The appellants estimate the value to be $75,000. The appellants contend that sales of unimproved lots in the North Bay area do not support the assessed valuation. The Assessor's representative agreed that bare land sales do not support the assessed value, and submitted a list of bare land sales for 2013 and 2014 which support a January 1, 2014 value close to the value asserted by the appellants. The Assessor's representative explained that as the County valuation data was transitioned from a four year evaluation cycle to a software program utilizing annual statistical updates, a serious miscalculation was made. This error resulted in a problem specific to the North Bay area of Port Ludlow in which land was overvalued and improvements were undervalued. Consequently, the "total valuations" of improved property in North Bay were correct while valuations of vacant land were not. After careful consideration of all testimony and evidence, the Board of Equalization finds that a preponderance of the evidence supports a true and fair market value of $69,000. Member Smith moved to overrule the Assessor's valuation and reduce the land value from $112,125 to $69,000. Vice -Chairman Krist seconded the motion which carried by a unanimous vote. (See also minutes of March 2, 2015) Board of Equalization Minutes — April 2, 2015 William Reuther P.O. Box 6797 Auburn, CA 95604 BOE: 14 -29 -LO PN: 990 600 308 Page: 3 The appellant's property consists of an unimproved parcel located in the North Bay area of Port Ludlow. The property was assessed as of January 1, 2014 and is currently valued at $63,538. The appellant estimates the value to be $19,000. The appellant contends that sales of unimproved lots in the North Bay area do not support the assessed valuation. The Assessor's representative agreed that bare land sales do not support the assessed value, and submitted a list of bare land sales for 2013 and 2014 which support a January 1, 2014 value close to the value asserted by the appellant. The Assessor's representative explained that as the County valuation data was transitioned from a four year evaluation cycle to a software program utilizing annual statistical updates, a serious miscalculation was made. This error resulted in a problem specific to the North Bay area of Port Ludlow in which land was overvalued and improvements were undervalued. Consequently, the "total valuations" of improved property in North Bay were correct while valuations of vacant land were not. After careful consideration of all testimony and evidence, the Board of Equalization finds that a preponderance of the evidence supports a true and fair market value of $23,000. Vice -Chairman Krist moved to overrule the Assessor's valuation and reduce the land value from $63,538 to $23,000. Member Smith seconded the motion which carried by a unanimous vote. (See also minutes of March 2, 2015) Allen Panasuk BOE: 14 -30 -LO PN: 990 100 009 30 Raeban Court Port Ludlow, WA 98365 The appellant's property consists of an unimproved parcel located in the North Bay area of Port Ludlow. The property was assessed as of January 1, 2014 and is currently valued at $164,450. The appellant estimates the value to be $100,000. The appellant contends that sales of unimproved lots in the North Bay area do not support the assessed valuation. The Assessor's representative agreed that bare land sales do not support the assessed value, and submitted a list of bare land sales for 2013 and 2014 which support a January 1, 2014 value close to the value asserted by the appellant. The Assessor's representative explained that as the County valuation data was transitioned from a four Board of Equalization Minutes — April 2, 2015 Page: 4 year evaluation cycle to a software program utilizing annual statistical updates, a serious miscalculation was made. This error resulted in a problem specific to the North Bay area of Port Ludlow in which land was overvalued and improvements were undervalued. Consequently, the "total valuations" of improved property in North Bay were correct while valuations of vacant land were not. After careful consideration of all testimony and evidence, the Board of Equalization finds that a preponderance of the evidence supports a true and fair market value of $105,800. Vice -Chairman Krist moved to overrule the Assessor's valuation and reduce the land value from $164,450 to $105,800. Member Smith seconded the motion which carried by a unanimous vote. (See also minutes of March 2, 2015) Roger Oster BOE: 14-33-R PN: 990 600 263 73 Resolute Lane 14 -34 -LO 990 600 267 Port Ludlow, WA 98365 BOE: 14-33-R (Parcel #990 600 263): The appellant is appealing the value of property located at 73 Resolute Lane, Port Ludlow. The property was assessed as of January 1, 2014 and is currently valued at $264,453 ($71,300 for the land and $193,153 for the improvements). The appellant asserts the true and fair market value of the property to be $200,000 (No breakdown between land and improvements was provided). The appellant purchased the property in August 2004 for $285,000. As of January 1, 2014 he estimates the true and fair market value of the land to be $21,000. The appellant provided a fee appraisal that was termed "hypothetical" by the appraiser, because relevant improvements (2,183 square foot, 3 bedroom home) associated with the property, were not considered. The appellant's fee appraisal listed the sale of five parcels of vacant land considered comparable to the appellant's improved property. They ranged in price from $17,900 to $25,000 and sold between March 1, 2013 and December 31, 2014. One active listing was also included and listed for $34,900. A determination of total value was intentionally not calculated within the report. The appellant stated that an improved property located at 30 Resolute Lane had sold within the last few months for less than $200,000. The Assessor's representative presented: a tax parcel map of the immediate area showing the appellant's property; a copy of the appraisal worksheet; and an Excise Tax affidavit indicating the appellant's property was purchased in August 2004 for $285,000. The tax parcel map also identified the location of the comparable property submitted by the appellant (30 Resolute Lane) in relation to the appellant's property. The appraiser's worksheet and an Excise Tax affidavit for the comparable property sale were also provided. The Assessor's representative noted some significant differences between the appellant's parcel and the comparable property sale submitted by the appellant. The property presented as comparable was built in 1982, has a single bedroom, is 1,351 square feet in size, and was purchased through a bargain and sale Board of Equalization Minutes — April 2, 2015 Page: 5 deed that offers no Warranties of Title to the Grantee. He testified that it sold on November 26, 2014 for $202,000 and its total assessed value was $186,000, well below the purchase price. He also presented a sales chart listing approximately 50 vacant land and improved property sales that had occurred in Port Ludlow from January 1, 2013 to December 31, 2014. The Assessor's representative explained that as the County valuation data was transitioned from a four year evaluation cycle to a software program utilizing annual statistical updates, a serious miscalculation was made. This error resulted in a problem specific to the North Bay area of Port Ludlow in which land was overvalued and improvements were undervalued. Consequently, the "total valuations" of improved property in North Bay were correct while valuations of vacant land were not. University Village LTD. Partners v. King County tells us an appellant must provide evidence indicating the total assessed value of the appellant's property is incorrect, not just one component of the property. The court specifically stated "RCW 84.40.030(3) requires an Assessor to separately determine the values of the land and structures on the land in valuing real property. But the statute goes on to state that the sum of the values may not exceed the fair value of the total property. The subsection thus acknowledges that appraisals are, at best, estimates of value and that valuation of the components could lead to an excessive value of the property as a whole. This necessarily contemplates the potential adjustment of component values in order to keep their sum within a property's total assessed value." Weyerhaueser Co. v. Easter states the appellant must provide clear, cogent, and convincing evidence that the Assessor incorrectly valued the property before their presumption of correctness can be overturned. If the appellant provides this type of evidence indicating the total assessed value of the property is incorrect, then you must adjust the assessment to the correct true and fair market value. If the appellant only provides market based evidence regarding the land value of the property and not the structure(s), they are not meeting the requirement in University Village LTD. Partners v. King County and the Assessor's presumption of correctness should not be overturned. After reviewing all the information submitted, the Board concurred that the appellant did not present clear, cogent, and convincing evidence necessary to overcome the presumptive correctness of the value established by the Assessor. Member Smith moved to sustain the Assessor's valuation of $264,453 ($71,300 for the land and $193,153 for the improvements). Vice -Chairman Krist seconded the motion which carried by a unanimous vote. (See also minutes of February 27, 2015) BOE: 14 -34 -LO (Parcel #990 600 267): The appellants' property consists of an unimproved parcel located in the North Bay area of Port Ludlow. The property was assessed as of January 1, 2014 and is currently valued at $71,300. The appellant estimates the value to be between $17,000 to $20,000. The appellant contends that sales of unimproved lots in the North Bay area do not support the assessed valuation. Board of Equalization Minutes — April 2, 2015 Page: 6 The Assessor's representative agreed that bare land sales do not support the assessed value, and submitted a list of bare land sales for 2013 and 2014 which support a January 1, 2014 value close to the value asserted by the appellants. The Assessor's representative explained that as the County valuation data was transitioned from a four year evaluation cycle to a software program utilizing annual statistical updates, a serious miscalculation was made. This error resulted in a problem specific to the North Bay area of Port Ludlow in which land was overvalued and improvements were undervalued. Consequently, the "total valuations" of improved property in North Bay were correct while valuations of vacant land were not. After careful consideration of all testimony and evidence, the Board of Equalization finds that a preponderance of the evidence supports a true and fair market value of $21,000. Member Smith moved to overrule the Assessor's valuation and reduce the land value from $71,300 to $21,000. Vice -Chairman Krist seconded the motion which carried by a unanimous vote. (See also minutes of February 27, 2015) Dennis & Emily Jean McCarthey BOE: 14 -45 -LO PN: 990 400 506 393 Olele Point Road Port Ludlow, WA 98365 The appellants' property consists of an unimproved parcel located in the North Bay area of Port Ludlow. The property was assessed as of January 1, 2014 and is currently valued at $59,800. The appellants estimate the value to be $25,000. The appellants contend that sales of unimproved lots in the North Bay area do not support the assessed valuation. The Assessor's representative agreed that bare land sales do not support the assessed value, and submitted a list of bare land sales for 2013 and 2014 which support a January 1, 2014 value close to the value asserted by the appellants. The Assessor's representative explained that as the County valuation data was transitioned from a four year evaluation cycle to a software program utilizing annual statistical updates, a serious miscalculation was made. This error resulted in a problem specific to the North Bay area of Port Ludlow in which land was overvalued and improvements were undervalued. Consequently, the "total valuations" of improved property in North Bay were correct while valuations of vacant land were not. After careful consideration of all testimony and evidence, the Board of Equalization finds that a preponderance of the evidence supports a true and fair market value of $25,000. Vice -Chairman Krist moved to overrule the Assessor's valuation and reduce the land value from $59,800 to $25,000. Member Smith seconded the motion which carried by a unanimous vote. (See also minutes of March 2, 2015) Board of Equalization Minutes — April 2, 2015 Page: 7 Michael & Virginia Roark BOE: 14 -56 -LO PN: 990 600 367 242 Holland Drive Port Townsend, WA 98368 The appellants' property consists of an unimproved parcel located in the North Bay area of Port Ludlow. The property was assessed as of January 1, 2014 and is currently valued at $97,175. The appellants estimate the value to be $25,000. The appellants contend that sales of unimproved lots in the North Bay area do not support the assessed valuation. The Assessor's representative agreed that bare land sales do not support the assessed value, and submitted a list of bare land sales for 2013 and 2014 which support a January 1, 2014 value close to the value asserted by the appellants. The Assessor's representative explained that as the County valuation data was transitioned from a four year evaluation cycle to a software program utilizing annual statistical updates, a serious miscalculation was made. This error resulted in a problem specific to the North Bay area of Port Ludlow in which land was overvalued and improvements were undervalued. Consequently, the "total valuations" of improved property in North Bay were correct while valuations of vacant land were not. After careful consideration of all testimony and evidence, the Board of Equalization finds that a preponderance of the evidence supports a true and fair market value of $25,000. Member Smith moved to overrule the Assessor's valuation and reduce the land value from $97,125 to $25,000. Vice -Chairman Krist seconded the motion which carried by a unanimous vote. (See also minutes of March 2, 2015) Scott Schultze BOE: 14 -58 -LO PN: 990 600 385 16677 Maple Circle Lake Oswago, OR 97034 The appellant's property consists of an unimproved parcel located in the North Bay area of Port Ludlow. The property was assessed as of January 1, 2014 and is currently valued at $63,538. The appellant estimates the value to be $46,000. The appellant contends that sales of unimproved lots in the North Bay area do not support the assessed valuation. The Assessor's representative agreed that bare land sales do not support the assessed value, and submitted a list of bare land sales for 2013 and 2014 which support a January 1, 2014 value close to the value asserted by the appellant. Board of Equalization Minutes — April 2, 2015 Page: 8 The Assessor's representative explained that as the County valuation data was transitioned from a four year evaluation cycle to a software program utilizing annual statistical updates, a serious miscalculation was made. This error resulted in a problem specific to the North Bay area of Port Ludlow in which land was overvalued and improvements were undervalued. Consequently, the "total valuations" of improved property in North Bay were correct while valuations of vacant land were not. After careful consideration of all testimony and evidence, the Board of Equalization finds that a preponderance of the evidence supports a true and fair market value of $40,250. Vice -Chairman Krist moved to overrule the Assessor's valuation and reduce the land value from $63,538 to $40,250. Member Smith seconded the motion which carried by a unanimous vote. (See also minutes of March 2, 2015) Roger & Helen Hood BOE: 14 -62 -LO PN: 990 600 202 P.O. Box 65033 Port Ludlow, WA 98365 The appellants' property consists of an unimproved parcel located in the North Bay area of Port Ludlow. The property was assessed as of January 1, 2014 and is currently valued at $48,588. The appellants estimate the value to be $20,000. The appellants contend that sales of unimproved lots in the North Bay area do not support the assessed valuation. The Assessor's representative agreed that bare land sales do not support the assessed value, and submitted a list of bare land sales for 2013 and 2014 which support a January 1, 2014 value close to the value asserted by the appellants. The Assessor's representative explained that as the County valuation data was transitioned from a four year evaluation cycle to a software program utilizing annual statistical updates, a serious miscalculation was made. This error resulted in a problem specific to the North Bay area of Port Ludlow in which land was overvalued and improvements were undervalued. Consequently, the "total valuations" of improved property in North Bay were correct while valuations of vacant land were not. After careful consideration of all testimony and evidence, the Board of Equalization finds that a preponderance of the evidence supports a true and fair market value of $20,000. Member Smith moved to overrule the Assessor's valuation and reduce the land value from $48,588 to $20,000. Vice -Chairman Krist seconded the motion which carried by a unanimous vote. (See also minutes of March 2, 2015) Board of Equalization Minutes — April 2, 2015 Page: 9 Janet Knudsen BOE: 14 -66 -LO PN: 990 600 319 24450 Mt. Washington View Lane NW Poulsbo, WA 98370 The appellant's property consists of an unimproved parcel located in the North Bay area of Port Ludlow. The property was assessed as of January 1, 2014 and is currently valued at $63,538. The appellant estimates the value to be $35,000. The appellant contends that sales of unimproved lots in the North Bay area do not support the assessed valuation. The Assessor's representative agreed that bare land sales do not support the assessed value, and submitted a list of bare land sales for 2013 and 2014 which support a January 1, 2014 value close to the value asserted by the appellant. The Assessor's representative explained that as the County valuation data was transitioned from a four year evaluation cycle to a software program utilizing annual statistical updates, a serious miscalculation was made. This error resulted in a problem specific to the North Bay area of Port Ludlow in which land was overvalued and improvements were undervalued. Consequently, the "total valuations" of improved property in North Bay were correct while valuations of vacant land were not. After careful consideration of all testimony and evidence, the Board of Equalization finds that a preponderance of the evidence supports a true and fair market value of $34,500. Vice -Chairman Krist moved to overrule the Assessor's valuation and reduce the land value from $63,538 to $34,500. Member Smith seconded the motion which carried by a unanimous vote. (See also minutes of March 5, 2015) Jerry & Diana Coburn BOE: 14 -80 -LO PN: 990 603 204 385 Old Oak Bay Road Port Hadlock, WA 98339 The appellants' property consists of an unimproved parcel located in the North Bay area of Port Ludlow. The property was assessed as of January 1, 2014 and is currently valued at $97,175. The appellants estimate the value to be $67,575. The appellants contend that sales of unimproved lots in the North Bay area do not support the assessed valuation. The Assessor's representative agreed that bare land sales do not support the assessed value, and submitted a list of bare land sales for 2013 and 2014 which support a January 1, 2014 value close to the value asserted by the appellants. The Assessor's representative explained that as the County valuation data was transitioned from a four Board of Equalization Minutes — April 2, 2015 Page: 10 year evaluation cycle to a software program utilizing annual statistical updates, a serious miscalculation was made. This error resulted in a problem specific to the North Bay area of Port Ludlow in which land was overvalued and improvements were undervalued. Consequently, the "total valuations" of improved property in North Bay were correct while valuations of vacant land were not. After careful consideration of all testimony and evidence, the Board of Equalization finds that a preponderance of the evidence supports a true and fair market value of $67,575. Member Smith moved to overrule the Assessor's valuation and reduce the land value from $97,175 to $67,575. Vice -Chairman Krist seconded the motion which carried by a unanimous vote. (See also minutes of March 5, 2015) Mark & Annette Johnson BOE: 14-81-R PN: 990 600 252 72 Resolute Lane Port Ludlow, WA 98365 The appellants are appealing the value of property located at 72 Resolute Lane, Port Ludlow. The property was assessed as of January 1, 2014 and is currently valued at $283,990 ($71,300 for the land and $212,690 for the improvements). The appellants assert the true and fair market value of the property to be $230,690 ($18,000 for the land and $212,690 for the improvements). The appellants purchased the property as vacant land on February 26, 2013 for $18,000 and have since built a 2,343 square foot, 3 bedroom home on the property. They accept the Assessor's value placed on improvement,s but disagree with the land portion of the valuation. They presented four neighborhood bare land sales for consideration as comparable property sales. Their petition states these sales ranged in price from $15,000 to $22,000 and sold between March 18, 2013 and October 31, 2014. No improved property sales were cited by the appellants. The Assessor's representative presented: a tax parcel map of the immediate area identifying the location; a copy of the appraisal worksheet for the appellants' property showing it had been valued as 70% complete; and an Excise Tax affidavit indicating the property was purchased by the appellants on February 26, 2013 for $18,000. The Assessor's representative explained that as the County tax data was transitioned from a four year evaluation cycle to a software program utilizing annual statistical updates, a serious miscalculation was made. This error resulted in a problem specific to the North Bay area of Port Ludlow in which land was overvalued and improvements were undervalued. Consequently, the "total valuations" of improved property in North Bay were correct while valuations of vacant land were not. University Village LTD. Partners v. King County tells us an appellant must provide evidence indicating the total assessed value of the appellant's property is incorrect, not just one component of the property. The court specifically stated "RCW 84.40.030(3) requires an Assessor to separately determine the value of the land and structures on the land in valuing real property. But the statute goes on to say that the sum of the values may not exceed the fair value of the total property. The subsection thus acknowledges that Board of Equalization Minutes — April 2, 2015 Page: 11 appraisals are, at best, estimates of value and that valuation of the components could lead to an excessive value of the property as a whole. This necessarily contemplates the potential adjustment of component values in order to keep their sum within a property's total assessed value." Weyerhaueser Co. v. Easter states the appellant must provide clear, cogent, and convincing evidence that the Assessor incorrectly valued the property before their presumption of correctness can be overturned. If the appellant provides this type of evidence indicating the total assessed value of the property is incorrect, then you must adjust the assessment to the correct true and fair market value. If the appellant only provides market based evidence regarding the land value of the property and not the structure(s), they are not meeting the requirement in University Village LTD. Partners v. King County and the Assessor's presumption of correctness should not be overturned. After reviewing all the information submitted, the Board concurred that the appellants did not present clear, cogent, and convincing evidence necessary to overcome the presumptive correctness of the value established by the Assessor. Vice -Chairman Krist moved to sustain the Assessor's valuation of $283,990 ($71,300 for the land and $212,690 for the improvements). Member Smith seconded the motion which carried by a unanimous vote. (See also minutes of February 27, 2015) Coral Campbell BOE: 14 -97 -LO PN: 990 900 005 P.O. Box 341 Igo, CA 96047 The appellant's property consists of an unimproved parcel located in the North Bay area of Port Ludlow. The property was assessed as of January 1, 2014 and is currently valued at $112,125. The appellant estimates the value to be $90,000. The appellant contends that sales of unimproved lots in the North Bay area do not support the assessed valuation. The Assessor's representative agreed that bare land sales do not support the assessed value, and submitted a list of bare land sales for 2013 and 2014 which support a January 1, 2014 value close to the value asserted by the appellant. The Assessor's representative explained that as the County valuation data was transitioned from a four year evaluation cycle to a software program utilizing annual statistical updates, a serious miscalculation was made. This error resulted in a problem specific to the North Bay area of Port Ludlow in which land was overvalued and improvements were undervalued. Consequently, the "total valuations" of improved property in North Bay were correct while valuations of vacant land were not. After careful consideration of all testimony and evidence, the Board of Equalization finds that a preponderance of the evidence supports a true and fair market value of $86,250. Board of Equalization Minutes — April 2, 2015 Page: 12 Member Smith moved to overrule the Assessor's valuation and reduce the land value from $112,125 to $86,250. Vice -Chairman Krist seconded the motion which carried by a unanimous vote. (See also minutes of March 5, 2015) Lisa Gatlin Trust BOE: 14-18-R PN: 948 200 013 Willard Gatlin, Authorized Agent 107 Edgewood Drive Port Ludlow, WA 98365 The appellant is appealing the value of property located at 107 Edgewood Drive, Port Ludlow. The property was assessed as of January 1, 2014 and is currently valued at $372,001 ($141,750 for the land and $230,251 for the improvements). The appellant asserts the true and fair market value of the property to be $336,153 ($135,000 for the land and $201,153 for the improvements). The appellant's petition lists two sales of comparable property, both of which were sold in 2013. The appellant's representative, Willard Gatlin, questioned the amount of the increase in the assessment (about 10%) of the property when most of the neighboring properties did not increase by that much. The Assessor's representative noted that the appellant's two comparable property sales actually sold for above or very close to the assessed value. He also stated that this is a nice neighborhood with views of the bay. He noted that the appellant's property has a filtered view. After careful consideration the Board finds that the appellant did not present clear, cogent, and convincing evidence necessary to overcome the presumptive correctness of the value established by the Assessor. Vice -Chairman Krist moved to sustain the Assessor's valuation of $372,001 ($141,750 for the land and $230,251 for the improvements). Member Smith seconded the motion which carried by a unanimous vote. (See also minutes of March 16, 2015) Michael & Sigrid Howard BOE: 14-38-R PN: 978 800 003 91 Mt. Constance Way Port Ludlow, WA 98365 The appellants are appealing the value of property located at 91 Mt. Constance Way, Port Ludlow. The property was assessed as of January 1, 2014 and is currently valued at $372,421 ($102,375 for the land and $270,046 for the improvements). The appellants assert the true and fair market value of the property to be $345,000 ($95,000 for the land and $250,000 for the improvements). The appellants presented a number of comparable property sales occurring December 2013 to November 2014 one of which was next door and one directly across the street. The Assessor's representative discussed the appellants' comparable property sales as well as several Real Estate listings and neighborhood adjustments. Board of Equalization Minutes — April 2, 2015 Page: 13 After consideration of all testimony and evidence, the Board finds that a preponderance of the evidence supports a true and fair market value of $345,000. Member Smith moved to overrule the Assessor's valuation and reduce the value from $372,421 ($102,375 for the land and $270,046 for the improvements) to $345,000 ($95,000 for the land and $250,000 for the improvements). Vice -Chairman Krist seconded the motion which carried by a unanimous vote. (See also minutes of March 16, 2015) William & Barbara Schaefer BOE: 14-54-R PN: 978 800 001 61 Mt. Constance Way Port Ludlow, WA 98365 The appellants are appealing the value of property located at 61 Mt. Constance Way, Port Ludlow. The property was assessed as of January 1, 2014 and is currently valued at $304,035 ($95,813 for the land and $208,222 for the improvements). The appellants assert the true and fair market value of the property to be $260,000 ($81,250 for the land and $178,750 for the improvements). The appellants stated that a developed storm drainage easement across the back yard and noise and lights from the nearby Teal Lake Road are negative factors affecting the property value. They listed one sale of a property they considered comparable. The appellants testified that the value they listed on their petition is an estimate and a value of $270,000 to $280,000 is probably more realistic. The Assessor's representative noted that the appellants' comparable property sold above the assessed value. He also stated that the appellants' "Walker Model" house is a nice house in fine condition in a nice neighborhood where the properties are well cared for. He further stated that all of the Walker Model houses have been assessed using the same methodology. After careful consideration the Board finds that the appellants did not present clear, cogent, and convincing evidence necessary to overcome the presumptive correctness of the value established by the Assessor. Member Smith moved to sustain the Assessor's valuation of $304,035 ($95,813 for the land and $208,222 for the improvements). Vice -Chairman Krist seconded the motion which carried by a unanimous vote. (See also minutes of March 16, 2015) Robert & Joanne Luttrell BOE: 14 -91 -LO PN: 995 600 012 2755 E. Narrowleaf Drive Gilbert, AZ 85298 The appellants are appealing the value of bare land located at 12 Argyle Lane, Port Ludlow. The property was assessed as of January 1, 2014 and is currently valued at $85,313. The appellants assert the true and fair market value of the property to be $30,000. Board of Equalization Minutes — April 2, 2015 Page: 14 The appellants were not available to testify at the hearing. They stated in their petition that no vacant parcels have sold in their area for over $25,000 in the last two years. The Assessor's representative visited the appellants' property and testified that it is located in a nice neighborhood, with the only negative factor being the nearby Port Ludlow maintenance shop. He feels the appellants' property has been overvalued. He recommends the value be reduced to $42,656. The Board determined a 35% reduction for site/view quality and an additional 50% reduction in value should be given to the base land value of $125,000 resulting in an adjusted value of $40,625. Vice -Chairman Krist moved to overrule the Assessor's valuation and reduce the value from $85,313 to $40,625. Member Smith seconded the motion which carried by a unanimous vote. (See also minutes of March 16, 2015) NOTICE OF ADJOURNMENT Vice -Chairman Krist moved to adjourn the meeting at 12:17 p.m. Member Smith seconded the motion which carried by a unanimous vote. JEFFERSON COUNTY ATT ST: BOARD EQUALIZATION Aeslie R. Loc e,' Clerk of the Board Dave G ing Cha an Henry Krist, Vice -Chairman Michael Smith, Member