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Home My WebLink AboutM011196 Jefferson County Board of Equalization TELEPHONE: 385.9100 COURTHOUSE P.O. BOX 1220 PORT TOWNSEND, WASHINGTON 98368 ff.,~;~r;cl~; :S;~::(~:-~, (::~1 ,_-, -'- r~: ;__':" -' t~.i\ '-;;:';),:;.'. : --,- .,: ,," ",.',--<>"" I> '"' ~ - - "', """ 'Ix' ,I. ' ~,""'7'" ,\,.\' '..'< "~M/""""'J.;' '~(r>"fc j,,' . _ !;--;~ ._ ~:-:-" ,: ,lVI '/1 '~' ,.,' i_lI' , ,'k i '",l"",.1i ,'" ,'"'''' .' "",',' ~~~:~':'t fi~i_,.:~~~~:_: :~,_ ,.,':., -':,;,,~[f-' 1"1,, """", , 'lll,,' L," *_ ...' .,-..., .' '-', - - - -r:';/,.:,\ ~i,! 'i,\i:l.:;,a,!'I~~';-, );..~~c;'L " ~-~.~-~,-_:=~~~-~;:----~ JEFFERSON COUNTY BOARD OF EQUALIZATION MINUTES JANUARY 11, 1996 William S. Marlow Richard A. Broders James A. DeLeo Chairman Vice-Chairman Member Chairman William S. Marlow called the meeting to order at 9:30 a.m. in the presence of Vice- Chairman Richard A. Braders and Member James A. DeLeo. HEARINGS Richard Moser 63 Sea Breeze Lane Port Ludlow, WA 98365 BOE: 95-96-R PN: 998 700 025 Mr. Moser was present. Dennis Pownall was present on behalf of the Assessor's office, Chairman Marlow explained the hearing process and swore them in. The property under appeal is located in Port Ludlow. Mr. Moser stated that he was one of the first individuals to purchase property in this area so the value of the homes had not yet been established, To assure that they got a specific site they had to accept the terms of the builder and may have paid more than it was worth. The market values of the same style house have considerably decreased since the time of their purchase. Lots that are three times larger and have better views than their lot, are for sale for the same amount as the' assessed value of their lot. Their property value has declined for a couple of reasons. First, since property is selling for much less than he paid, it would be very difficult to sell his property. They have also had problems with Pope Resources regarding utilities. Secondly, the house was sided with siding from Louisiana Pacific (L.P, siding). This particular type of siding disintegrates. There is a pending lawsuit against this company to get the siding repaired. This type of siding was put on every house in his neighborhood. He believes that this problem would also make it difficult to sell his property and therefore, devalues it. The current assessment is $279,185 ($91,000 for the land and $188,185 for the improvements), A reduction to $237,812 ($74,812 for the land and $163,000 for the improvements) is being requested. Mr. Pownall presented a map outlining comparable sales that were used to assess the property. He stated that he realizes there are problems with the siding. The costs associated with the replacement of the siding will be the responsibility of Louisiana Pacific, not the homeowner. Additionally, there are no lots for sale in Teal Lake Village that are three times larger than the appellant's lot. Based on sales, the pwpertv is correctly valued. t.J 106% Recycled Paper BOARD OF EQUALIZATION MINUTES - JANUARY 11, 1996 Page 2 Mr. Moser agreed that the lots he mentioned are not located in Teal Lake Village, They are located in a new development. He stated that Mr. Pownall is also correct in stating that Louisiana Pacific will pay for the cost to replace the siding, however, they will replace it at their convenience and when the siding fails. Until that time, there is still pending litigation which may make it difficult to sell the property. Mr. Pownall stated that values in one neighborhood cannot be compared to values in another neighborhood. After hearing the testimony of both parties the Board concurred to conduct an inspection of the property and make a determination at a later date. Thomas & Jean Moore 101 Sea Vista Place Port Ludlow, WA 98365 BOE: 95-74-R PN: 998700 037 Mr. Moore was present. Dennis Pownall was present on behalf of the Assessor's office. Chairman Marlow explained the hearing process and swore them in. The property under appeal is located in Port Ludlow. Mr. Moore stated that his house was sided with siding from Louisiana Pacific, The siding is deteriorating and they do not know when the company will be replacing it. In the short term this is a problem which could negatively impact a sale, thereby, devaluating the property. Additionally, he has heard that a neighboring lot was assessed $10,000 less than his. In his petition he included valuations of similar lots in the area. He is requesting the Board reduce the current assessment from $248,965 ($61,000 for the land and $187,965 for the improvements) to $240,000 ($61,000 for the land and $179,000). Mr. Pownall stated that the appellant purchased the property in June of 1994 for $247,500. The 1995 assessment is $248,965. He presented comparable sales in the area which support the current assessed value. The neighboring lot mentioned in the appellant's testimony was given an adjustment since it is a comer lot. The houses are valued the same, The difference in value is in the land. After hearing the testimony of both parties the Board concurred to conduct an inspection of the property and make a determination at a later date. Russell Reed 64 Sea Vista Terrace Port Ludlow, WA 98365 BOE: 95-82-R PN: 998 700 046 Mr. Reed was present. Dennis Pownall was present on behalf of the Assessor's office. Chairman Marlow explained the hearing process and swore them in. The property under appeal is located in Port Ludlow. Mr. Reed stated that property values have gone down and the real estate market is not what it used to be. Additionally, when his house was built it was sided with siding from Louisiana Pacific which is deteriorating. This problem affects the potential sale of their property. In another area lots which have better views and are three times as large as his lot, are selling for less than the assessed value of his lot. He feels he paid too much for the property in 1993. The current assessment is $293,815 ($106,000 for the land and $187,815 for the improvements), A reduction to $237,815 ($60,000 for the land and $177,815 for the improvements) is being requested. BOARD OF EQUALIZATION MINUTES - JANUARY 11, 1996 Page 3 Mr. Pownall presented comparable sales which support the assessed value. The values in this neighborhood are equitable. After hearing the testimony of both parties the Board concurred to conduct an inspection of the property and make a determination at a later date. John & Mary Naye 130 Sea Vista Terrace Port Ludlow, WA 98365 BOE: 95-188-LO PN: 998700053 Mr. Naye was present. Dennis Pownall was present on behalf of the Assessor's office. Chairman Marlow explained the hearing process and swore them in. The property under appeal is located in Port Ludlow. Mr. Naye stated that property is decreasing in value, There have been no sales in the area. He presented comparable sales which he feels proves that there is a decline in the real estate market. Additionally, his house was sided with siding from Louisiana Pacific. There is currently a lawsuit against this company because the siding is defective. The siding on his house has not yet started to deteriorate, however, this problem could prevent the sale of his property. He has been informed by individuals who sell real estate, that potential buyers looking at houses in this area are asking whether or not Louisiana Pacific siding was used. When they are told that it is Louisiana Pacific siding they become disinterested in the property. For these reasons he feels that his property is devalued. He is requesting the Board reduce the current assessment from $293,700 ($106,000 for the land and $187,700 for the improvements) to $280,000 ($92,300 for the land and $187,700 for the improvements). Mr. Pownall presented sales of comparable property in the area. Based on these sales the property is valued correctly. A fee appraisal was done on the property which listed the value very close to the Assessor's valuation. Mr. Naye stated that he agreed with the value at that time. However, since then, the market has declined and yet his valuation is still increasing. After hearing the testimony of both parties the Board concurred to conduct an inspection of the property and make a determination at a later date. Discussion ensued regarding other properties in the area. John Chesterley P.O. Box 998 Poulsbo, WA 98370 BOE: 95-147-LO PN: 821152005 Mr. Chesterley was present. Dennis Pownall was present on behalf of the Assessor's office. Chairman Marlow explained the hearing process and swore them in. The property under appeal is located in Port Ludlow. Mr. Chesterley stated that his property value has increased by 40%. He had a fee appraisal done on his property in March of 1994. He spoke with many real estate agencies about the market value of his property and they all felt the value was less than the Assessor's valuation. His undeveloped waterfront property is a large tract ofland, approximately BOARD OF EQUALIZATION MINUTES - JANUARY 11, 1996 Page 4 590 feet deep. It is not subdivided and there are no easements for access. He feels that the comparable sales used by Assessor's office are not comparable. His property is bare land and a lot would need to be done to develop it. One real estate agent told him that his property would not sell for the assessed value because the market for property in such a high price range is very small. The agent believes the property value is closer to $400,000. He is requesting the Board reduce the current valuation from $507,080 ($505,680 for the land and $1,400 for the improvements) to $425,530 ($424,130 for the land and $1,400 for the improvements). He added that he does not think that he could get a permit to subdivide 350 feet of waterfront property. There are also water supply problems. Mr. Pownall explained how the property was valued. He used a front foot rate and gave a 16% adjustment for excess front footage. No adjustment was made for acreage or depth. At the close of the hearing the Board concurred to conduct an inspection of the property and make a determination at a later date. Meeting adjourned. Attest: C' ~J ~ (j1/~' :J", ; t,<--, Erin K. Lundgren, Clerk oft e Board Y'-' JEFFERSON COUNTY BOARD OF EQUALIZATION j/- William S. Marlow, Chairman Ri dA! d .] ( ar , ro rs, lC~ ~aA~ Oames A. DeLeo, Member