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Home My WebLink AboutM031097 Jefferson County Board of Equalization TELEPHONE: 385.9100 COURTHOUSE P.O. BOX 1220 PORT TOWNSEND, WASHINGTON 98368 r"'/I~' ,:, '",< '~. (\ ,c7 l.., .:~f~ ~ , ,Ji~i>2> ~T--;~"";_~3~<~~f)'~',_j~~ /f.4,",",' f~r' ~ "..,1.",.,., I ,/'.',;;it:ff.,," ~';{I;' ,,,:/,~ ~.....4L '. JI rl) ',~."..' "'~m"~'/~""1'\ '", ",:l,_., , "'''-'". .' ,...."", "",r" .:, ~.+~' : ;1", .,,' """ -, ,~,; "t." .P. 'd .," ' ",' .,,, ,'I' ~1t~"'_"'t,;4.-- , '111..,' '_ <,:1)1,-- i!~;~'\&~l1/ L 'r;' ).l;~~ :t~~~~;"-~:7<~~~~~'=~~~~ JEFFERSON COUNTY BOARD OF EQUALIZATION MINUTES MARCH 10, 1997 William S. Marlow Richard A. Broden 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. Broders and Member James A. DeLeo. APPROVAL OF THE MINUTES Vice-Chairman Broders moved to approve the minutes ofJanuary 8, 1997 as presented, Member DeLeo seconded the motion which carried by a unanimous vote, PORT LUDLOW (TEAL LAKE) PROPERTY VALUES Jack Westerman and Jeff Chapman of the Assessor's office were present to discuss property values in the development of Teal Lake located in Port Ludlow. Jack Westerman stated that property in Port Ludlow was valued as ofJanuary 1, 1995. Owners of property located in the Teal Lake area have recently experienced a market drop in regard to their property valuations. While the 1995 valuations were based on late 1994 sales, there have been sales in the latter part of 1996 which are substantially lower than the 1994 sales. This brings up a question of whether the 1995 sales were incorrect or whether there has just been a market drop in this particular area? The latter appears to be the case in this instance, since there were no 1996 appeals in this area and only one appeal in 1995. Chairman Marlow stated that without any appeals the Board in unable to unilaterally equalize property. Jack Westerman agreed that at this point in time the Board may not be able to equali2e the property, however, given over two years worth of data, the Assessor's office will be requesting the Board equalize Teal Lake during the 1997 season. Jeff Chapman stated that it is difficult to determine which date the property value should be based on. The value is established as ofJanuary 1, 1995. Market values of both new homes and existing homes in the area are decreasing. The Assessor's office does not dispute this fact, they just need to determine where the accurate value lies. It is believed by the Assessor's staff that the drop in the market is isolated to Teal Lake. While other areas indicate a stagnant market, Teal Lake is the only area where values have actually decreased. n '-: 100% Recycled Paper BOARD OF EQUALIZATION MINUTES - MARCH 10, 1997 Page 2 Jack Westerman stated that in July when he requests the Board equalize property in Teal Lake, he may recommend the values be based on January I, 1997 values due to the amount and quality of market data. EQUALIZING Upon approval of the State Department of Revenue, the Board of Equalization met to equalize the following properties. Nordland Construction Co. Inc. AM International Co. P.O. Box 195 Nordland, WA 9858 PN: 931 600 101, 931 600 102,931 600 103 931 600 104, 931 600 106,931 600 107 931 600 108, & 931 600 109 The parcels listed above are included in the Bay Vista II condominium located on Water Street in Port Townsend. For equity purposes the Board feels it is necessary to decrease the valuation of the parcels listed above, based on their decision to reduce the values of the parcels which were appealed (931 600005,931 600010 and 931 600011) during the 1996 Board of Equalization season. Vice-Chairman Broders moved to overrule the Assessor's valuation and decrease the land and improvement value of all the parcels listed above by 5%. Member DeLeo seconded the motion which carried by a unanimous vote. (See also minutes of August 12, and November 4, 1996) Lowell and Ingrid Thompson 51 Seaview Court #2 Port Townsend, W A 98368 PN: 965500005 Bennie and Esther Throne 7919 Sagamore Road Leawood, KS 66206-1228 PN: 965 500 006 G. R. and Kathryn Keith 5 N. 28th Avenue Yakima, W A 98902 PN: 965 500 008 James C. Douglas 2068 42nd Avenue E. Seattle, W A 98112 PN: 965500010 Alan and Sharon Black, Trustees 11-2 Seaview Court Port Townsend, W A 98368 PN: 965500011 Jack E. and Mary Louise Adney 1020 Jackman Street Port Townsend, W A 98368 PN: 965500012 The parcels listed above are included in the Kala Heights condominium located in Kala Point in Port Townsend. For equity purposes the board feels it is necessary to reduce the valuation of the BOARD OF EQUALIZATION MINUTES - MARCH 10, 1997 Page 3 parcels listed above, based on their decision to reduce the values of the parcels which were appealed (965500007 and 965500009) during the 1996 Board of Equalization Season. Vice- Chairman Broders moved to overrule the Assessor's valuation and reduce only the improvement value of the parcels listed above, using the same methodology used in valuing the appealed parcels (based on a sale in the area). Following are the valuation changes: Lowell and Ingrid Thompson PN: 965500005 Reduce only the improvement value from $154,170 to $145,530 for a new total valuation of$265,530. Bennie and Esther Throne PN: 965 500 006 Reduce only the improvement value from $136,655 to $127,635 for a new total valuation of $247,635. G. R. and Kathryn Keith PN: 965 500 008 Reduce only the improvement value from $146,750 to $137,055 for a new total valuation of $257,055. James C. Douglas PN: 965500010 Reduce only the improvement value from $146,225 to $137,935 for a new total valuation of$257,935. Alan and Sharon Black, Trustees PN: 965500011 Reduce only the improvement value from $146,050 to $137,710 for a new total valuation of$192,71O. Jack E. and Mary Louise Adney PN: 965500012 Reduce only the improvement value from $157,965 to $149,080 for a new total valuation of$199,080. Member DeLeo seconded the motion which carried by a unanimous vote. (See also minutes of October 21, and November 5, 1996) The Board scheduled an appeal to heard on Wednesday, April 2, 1997 at 9:30 a.m. Meeting adjourned. Attest: {~1- ,eli '--I ~\ l C'cul 17), ~fuU;".,/U'.F /. Erin K. Lundgren, Clerk ofth' Board JEFFERSON COUNTY BOARD OF EQUALIZATION , , / ~~B:~ . chard A. Broders, Vice-Chairman {l. /fi ~ ames A. DeLeo, Member