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HomeMy WebLinkAboutM110507 ~\ tQU41 ~~~ g,~~~~ t) ~ !:j ~\ Z (... ><) \. *,/ ~~y 1820 Jefferson Street P.O. Box 1220 Port Townsend, WA 98368 James A. DeLeo William S. Marlow Richard A. Broders MINUTES November 5, 2007 William S. Marlow Richard A. Broders James A. DeLeo Chairman Vice-Chairman Member Chairman William S. Marlow called the meeting to order at 10:00 a.m. in the presence of Vice-Chairman Richard A. Broders and Member James A. DeLeo. HEARINGS Billy & Patricia Cole 4370 Oak Bay Road Port Ludlow, W A 98365 BOE: 07-44-R PN: 921301004 Billy Cole was present. Appraiser John Pray represented the Assessor's office. After explaining the hearing process, Chairman Marlow swore in both parties. Under appeal is a residence situated on 3.9 acres of land located at 4370 Oak Bay Road, Port Ludlow. Mr. Cole stated that valuations are inconsistent among properties in the area. As an example, his unimproved property is assessed at $9,000 per acre, while his neighbor's unimproved property is assessed at $7,000 per acre. Mr. Cole recently purchased property from this same neighbor at the rate of$5,000 per acre. It is his understanding that the value of property is based on sale prices, yet his assessment does not reflect his most recent purchase. His house is approximately 3,000 square feet and is assessed at almost $61.00 per square foot, compared to his neighbor's house which is over 5,000 square feet and of much higher quality, that is assessed for less than $47.00 per square foot. The current assessment of the property is $472,280 ($178,600 for the land and $293,680 for the improvements). The appellants estimate the value is $422,665 ($162,800 for the land and $259,865 for the improvements). Phone (360)385-9100 Fax (360)385-9382 jeflbocC@Co.jefferson.wa.u8 Board of Equalization Minutes - November 5, 2007 Page: 2 Mr. Pray discussed two comparable sales, including the sale of the appellants' property which they purchased in June 2005 for $410,000. The second comparable property consists of five acres of raw land which sold in October 2006 for $209,500. Based on this land sale the assessed value of $9,000 per residual acre is below market value. He explained that the appellant's property is receiving a 5% reduction in the land value for an easement that exists on the property. The difference in the improvement values between the appellant's property and his neighbor's property is that his neighbor's basement is assessed at 40% complete. This is based on information provided to Mr. Pray by the property owner at the time of his assessment. Since that time he has learned from the appellant that the basement is complete. He will confirm if it is complete during the next revaluation peri od. Hearing no further testimony, Chairman Marlow closed the hearing. A determination will be made at a later date. Carolyn R. Stadter 10901 SE 18th Street Vancouver, WA 98664 BOE: 07-193-R PN: 977 700 059 Carolyn R. Stadter was present. Appraiser John Pray represented the Assessor's office. After explaining the hearing process, Chairman Marlow swore in both parties. The property under appeal is a residence situated on a lot located at 241 Jansen Road, Nordland. Ms. Stadter stated that her house is in poor condition. The foundation has deteriorated to the point that the house is sagging. She is in the process of obtaining quotes for the cost to raise the house which has to be done in order to assess the amount of repairs needed. The property is currently assessed at $564,140 ($362,620 for the land and $201,520 for the improvements). The appellant estimates the value is $500,000 ($323,000 for the land and $177,000 for the improvements). The second comparable property consists of five acres ofraw land which sold in October 2006 for $209,500. Mr. Pray presented two comparable property sales, one of which is the sale ofthe appellant's property that she purchased in May 2004 for $519,500. The second comparable property consists of65 feet ofraw land on the waterfront which sold in December 2004 for $142,000 and then sold again in June 2006 for $289,000. He stated that initially the improvements were valued at $246,000, but, after reinspecting the property with the appellant, he lowered the value to $201,520. Ms. Stadter stated that it will cost approximately $100,000 to raise the house and make the repairs. She also added that the neighbor has encroached on 10 feet of her property, but, she doesn't want to spend the money to pay for a survey that would show the property boundaries. As for the amount she paid for the property, she noted that she was not able to negotiate a lower price because she was doing a 1031 exchange in which she had a limited amount of time to purchase another property to receive the tax benefit. The seller was threatening to take the property off the market if she did not pay his asking price, and due to the fast approaching 1031 exchange deadline she did not have time to have the property inspected. Had she known the condition of the property she would not have made the purchase. Board of Equalization Minutes - November 5, 2007 Paj(e: 3 Hearing no further testimony, Chairman Marlow closed the hearing. The Board will make a determination at a later date. Mary & Michael Fahrenschon 114 Thoren Road Port Ludlow, WA 98365 BOE: 07-113-R PN: 821 082 025 Mary Fahrenschon was present. Appraiser John Pray represented the Assessor's office. After explaining the hearing process, Chairman Marlow swore in both parties. The property under appeal is a residence situated on a lot located at 114 Thoren Road, Port Ludlow. Ms. Fahrenschon outlined the following concerns in a letter attached to her petition. The parcel is oddly shaped and only 50% usable due to the location of the house, septic field and water runoff. The house has serious defects that were not discovered in the pre-sale inspection and not disclosed by the seller. It is a log cabin with no insulation. Daylight can be seen through the walls, and during heavy rains there are major leaks. They feel they are being taxed out of their home. Even if they wanted to sell their property, they are not certain that they would be able to because the market is stagnant. The property is currently assessed at $217,605 ($85,000 for the land and $132,605 for the improvements). The appellants estimate the value is $155,000 ($45,000 for the land and $110,000 for the improvements). Mr. Pray presented three comparable property sales including the sale of the appellant's property which they purchased in June 2006 for $217,000. The other properties are in close proximity to the appellant's property and support the current assessed land value. Prior to the hearing he spoke with the appellant about the issues with the house and encouraged her to get some bids for the cost to make the repairs in order to find out the extent of the water damage. He was willing to reduce the improvement value to $110,000, as requested by the appellant, upon receiving written documentation of the cost for repair. The improvement value may need to be adjusted, but, the land value is fair. Ms. Fahrenschon stated that it is difficult to get free quotes for the purpose of an appeal. Hearing no further testimony, Chairman Marlow closed the hearing. The Board will make a determination at a later date. Dennis & Nancy Cowan 800 Olele Point Road Port Ludlow, WA 98365 BOE: 07-126-R PN: 977 400 026 Dennis and Nancy Cowan were present. Appraiser John Pray represented the Assessor's office. After explaining the hearing process, Chairman Marlow swore in both parties. The property under appeal is a residence situated on a lot located at 800 Olele Point Road, Port Ludlow. Mrs. Cowan stated that she has 23 years of experience in Real Estate. In that time, she has done an enormous amount of appraising services and handled several estate appraisals. They moved to Jefferson Board of Equalization Minutes - November 5, 2007 Paj(e: 4 County approximately 7 years ago. The land consists of 1.14 acres. In 1984 a previous owner constructed a barn/storage building on the property that was later remodeled and converted into a house in 1992. The Assessor's records indicate the square footage of the house is 2,766, when in actuality the square footage is 2,728 based on a copy of the building permit for the house. They do not have a garage. She presented photographs for the Board to review showing that they only have a partial view of Oak Bay and the Hood Canal. At the time of filing their appeal they submitted mostly land value comparisons with neighboring properties. This information was obtained from Jefferson County's website. Some of the information found on the website was not correct, but she was able to get a corrected copy. When they submitted their petition form they had listed their estimate of the property value as being $299,000. However, after doing some research, they feel that their initial estimate of value is too low and now they estimate the value is somewhere between $335,000 and $345,000. With the approval of the Assessor's representative, Mrs. Cowan presented additional information that was not submitted prior to the hearing. The information includes a request to reduce the valuation, a list of comparable property sales used by the appraiser, a list of comparable property sales compiled by the appellants, and photographs of all the properties and their views. They were sent three comparable property sales from the Assessor. His comparable property sale #1 located at Mats View Meadow parcel' A', is .66 of an acre in size and sold for $178,000 on August 21, 2006. This property sold at the top of the market and is located in a planned community with amenities and spectacular views, as sho'-"n in the photographs, of Mats Mats Bay and the Hood Canal shipping lanes. Comparable property sale #2 is located at 232 Olympus Boulevard. It is .37 of an acre in size and sold for $365,000 on August 24,2007. Having been a Realtor she is always looking at property, so she is familiar with this property. The house has undergone a significant remodel ofthe interior along with new siding and the construction ofa deck. Comparable property sale #3 is located at 380 Jefferson Avenue. It is 2.04 acres in size and sold on June 24, 2005 for $465,000. Mrs. Cowan stated that they are very familiar with this property because they had considered purchasing it when it was originally on the market. The house on this-property was constructed in 1990 and is 3,688 square feet in size with two full floors. The lower level could serve as an entirely separate home because it has its o,-"n kitchen, two bedrooms, a bathroom and a large family room. The upper level has two bedrooms, I Y, baths, a full kitchen, dining room and living room. In addition, two very large outbuildings were constructed on the property. One structure is a two-door R.V. barn with power, water and septic connections. Attached is the second building which is a large storage/workshop shed that is also heated. They were informed by Mr. Westerman that, for assessment purposes, the Assessor's staff had to use comparable property sales that occurred between June 1,2006 through December 31, 2006, and that no sales from 2007 could be used. Two of the appraiser's comparable property sales occurred outside of that time period, and therefore, should not be used as comparable properties. Their land is assessed at $176,400 for 1.14 acres, yet the land value of some other properties in the area that have more acreage are assessed at lower amounts. The improvement value of some ofthe houses and outbuildings in the area are newer than the appellant's house with no outbuildings, and yet they also are assessed at a lower amount than the appellant's improvement value. As she stated earlier, their house was initially a barn that was remodeled into a house. The owner did most of the work himself. After the Board of Equalization Minutes - November 5, 2007 Paj(e: 5 appellants purchased the property they had problems with their electrical and telephone wiring which they had to have repaired. The downstairs ofthe house is 1,848 square feet in size and only 1,600 square feet ofthat area is heated. Their house was built on a slab, while the other houses in the area were built on raised foundations. Just recently they replaced the roof on the house. She reviewed the following properties that she researched and found to be comparable to their property, and submitted photographs of all the properties and their views. She noted that all these sales occurred between June and December 2006. 1. Parcel #977 400 025 Address: 874 Olele Point Road Land Value: $178,100 (3 acres) Improvement Value: $213,300 House approximately 8 years old; garage, outbuildings, covered porches, filtered views from side of house Total assessed value: $391,400 2. Parcel #997 900 007 Address: 93 Port Townsend Bay Drive Listing Price: $420,000 Sale Price: $335,000 Sale Date: 06/12/06 House built in 2004 by Kelly Shields 1,907 square feet, plus a fully finished basement, 2-car garage, another I-car garage, located in a gated community \vith a full view 3. Parcel #994 200 052 Address: 167 Patison Road Listing Price: $349,900 Sale Price: $345,000 Sale Date: 09/15106 1.53 Acres ofland, house built in 1996 2,026 square feet with 3 decks and full view of Chimacum Creek Appraisal per Real Estate Agent of$375,000 4. Parcel #940 500 002 Address: 91 Marine View Drive Listing Price: $339,500 Sale Price: $270,000 Sale Date: 06/26/06 Lot size 12,535 square feet House size 2,600 square feet with fully finished daylight basement, 2-car garage, plus 2-space R.V. garage and full views of the bay and mountains Mrs. Cowan noted that there is approximately 60 feet of property adjacent to their parcel that belongs to the County but is maintained by the appellants. Board of Equalization Minutes - November 5, 2007 Page: 6 The property is currently assessed at $429,090 ($176,400 for the land and $252,690 for the improvements). The appellants estimate the total valuation ofthe property is closer to $345,000. Mr. Pray stated that his comparable property sale #1 is located off of Oak Bay Road. It does have a superior view compared to the appellant's view, but, it is smaller and adversely affected by the traffic noise from Oak Bay Road. He looked at the listing from 2005 and 2007 for comparable property sale #2 which included photographs ofthe inside and outside ofthe property. The appellant stated that it was remodeled and decks were added. It was not apparent to him that there were any changes to the property from 2005 to 2007. He admits that all three of his comparable properties have a better view than the appellant's view. Comparable property sale #3 has a one acre site value of $200,000, while the appellant's property has a $150,000 one acre site value. The appellant's land value is also receiving a 10% increase for the view. After receiving the appeal he revisited the property and found that the hedge and the house in front of the appellant's property significantly blocks their view. When he first inspected the property he was standing at the bottom of their driveway where there is a much better view. If the 10% increase for the view was removed, the value would better reflect the actual market value. As far as the neighboring parceL it has the same $150,000 one acre site value, with the residual land being valued at $10,000 per acre. With regard to the appellant's concern about the other two larger neighboring parcels having lower assessments, he explained that they do not have any views. Mrs. Cowen noted that one of those property owners do have a water view now, because the property owner across the street from them has cut down trees and allowed others to be topped. He explained that the improvements on the appellant's property were valued at a base rate of $95.00 per square foot. He used a factor of 7 years effective age and a depreciating factor of 5%. The appellants purchased the property in January 2001 for $276,000. He noted that for assessment purposes, appraisers are allowed to use comparable property sales that have occurred over the last four years of the revaluation cycle. In actuality, it is better when the sales are closer to the appraisal date. The Real Estate market over the last four years has increased dramatically. His value is based on more recent sales, and he has not seen a decline in the market. Mrs. Cowan stated that being a Realtor for 23 years there is a definite decline in the market right now. There are very few sales occurring along with a definite reduction in the sales prices of the houses in the last year. It has been declining since 2006 and everyone is talking about it. Markets go up and down everywhere on a six or seven year cycle. With regard to the 7 year effective age, she explained that her house is older than 7 years. If it was only 7 years old she would not have a kitchen that came out of "Waste Not, Want Not" as she was told by her appraiser. Their kitchen came from a mobile home that the previous owner installed. Everything in their house is inferior which they have been trying to fix over time. Mr. Pray explained that effective age is different from the actual age of the home. It is based on how well the house is maintained. Mrs. Cowan objects to the 7 year effective age. Board of Equalization Minutes - November 5, 2007 Paj(e: 7 Mr. Cowan added that the comparable property sales that were used do not reflect the true value of the home. Therefore, they feel their value is over assessed and they are asking for an adjustment. Hearing no further testimony, Chairman Marlow closed the hearing. The Board will make a determination at a later date. John & Ann Arscott 1412 East Ludlow Ridge Road Port Ludlow, WA 98365 BOE: 07-110-R PN: 821103009 John Arscott was present. Appraiser Maryn Gossell represented the Assessor's office. After explaining the hearing process, Chairman Marlow swore in both parties. The property under appeal is a residence situated on a waterfront lot located at 1412 East Ludlow Ridge Road, Port Ludlow. Mr. Arscott stated that there have been no sales of property within Tala Point that support the base value of $500,000 per lot used by the Assessor's office. This value is too high and should actually be $350,000. There are 17 lots within the Tala Point OVvl1er's Association. His property is located at the top of the point. These properties are at the end of a mile long road which is not owned by the Association, but, which they are obliged to maintain at a considerable expense. Very few property sales have occurred in the area. In fact, there are two properties which have been on the market for more than a year. The community does not have sewer or cable service, and their water supply has certain elements which the E.P.A. has determined to be excessive. He reviewed the following comparable property sales which have occurred in the area. 1. Parcel #821 103008 Address: 1361 E. Ludlow Ridge Road Sale Price: $1,225,000 (land and improvements) Sale Date: 11109/05 This is the most recent sale. In his view, the house on this property is the finest of any located in Tala Point. It is a post and beam house of superior construction and materials. He feels a greater value should be placed on the house than on the land. 2. Parcel #821 103012 Address: 1411 E. Ludlow Ridge Road Sale Price: $180,000 (land only) Sale Date: 09/15/03 This lot is located adjacent to the appellant's property. Board of Equalization Minutes - November 5, 2007 Paj(e:8 3. Parcel #821 103010 Address: 1331 E. Ludlow Ridge Road Sale Price: $246,000 (land only) Sale Date: 06/15103 4. Parcel #821 104 006 Address: 1300 E. Ludlow Ridge Road Sale Price: $475,000 (land and improvements) Sale Date: 02/21/03 Based on these sales, lot values are around $200,000. The 200' bluff on his property has been eroding approximately 6 inches per year. He believes that ultimately this property will not support a habitable dwelling and he is not certain that he would be allowed to do anything to prevent it. In sum, he feels the value is uillealistically high. He mostly disputes the land value, but, feels the house value should receive a depreciation adjustment due to weather exposure from being on the waterfront which requires significant maintenance. The property is currently assessed at $949,740 ($291,250 for the land and $658,490 for the improvements). The appellants estimate the value is $811,080 ($218,440 for the land and $592,640 for the improvements). Ms. Gossell presented an aerial photograph of the area as well as a map outlining the appellant's property; the comparable properties presented by both parties; and two properties currently on the market (one is a bare land parcel listed at $570,000 and the other is an improved parcel listed at $1,750,000 with an independent appraisal completed in December 2005 indicating a value of$I,320,000). Tala Point is very unique in that it is a gated community located off of Paradise Bay road. There are 19 parcels on Tala Point, but, only 17 share the tidelands. There are four indicators of value for property in the area, and the current assessment ofthe appellant's property is below all of them. She also used the appellant's comparable property #1 to support her assessment of the value. As the appellant stated, this property sold in November 2005 for $1,225,000. The appellant's property is located on the tip ofthe point and has one of the most superior views in the entire area. The value of the property was based on 7 comparable property sales. In order to be more comparable with the amenities of the appellant's property, the 7 sales she used were all located outside the Port Ludlow Master Planned Resort (MPR) community. All but one of the comparable property sales presented by the appellant occurred in 2003. While they did occur within the tour year revaluation period, they occurred very early in that period and prior to the market exploding. She used 2005 and 2006 sales data. Board of Equalization Minutes - November 5, 2007 Paj(e: 9 The appellant's property is receiving a 25% reduction off the base land value for lack of usable property, plus another 25% reduction in the value for land slide influence. With these two adjustments the base land value of $500,000 has been reduced to $281,250. Hearing no further testimony, Chairman Marlow closed the hearing. The Board will make a determination at a later date. James & Ruth Irvin 761 Ludlow Bay Road Port Ludlow, WA 98365 BOE: 07-111-R PN: 969 000 009 James Irvin was present. Appraiser Maryn Gossell represented the Assessor's office. After explaining the hearing process, Chairman Marlow swore in both parties. Under appeal is a residence situated on a waterfront lot located at 761 Ludlow Bay Road, Port Ludlow. Mr. Irvin stated that his property has been assessed several times since 2002 and he thought the assessment process was to occur once every four years. Chairman Marlow explained that property is assessed once every four years. However, if a property owner is doing any new construction, then the Assessor's staff will value that new construction in between the assessment cycle. Mr. Irvin stated that he does have new construction. He asked if his property is going to continue to be assessed higher at each valuation? Chairman Marlow replied that property values are determined by market sales. If the sale prices of property continue to increase, then property valuations will also increase. Discussion ensued regarding tax relief options for individuals on a fixed income. Mr. Irvin added that he lives on this property, but, he is only one of eight people that own this property. It would be difficult to get all eight owners to agree to sell the property and he believes this affects the market value. The property is currently assessed at $621,560 ($485,000 for the land and $136,560 for the improvements). The appellants estimate the value is $300,000 ($200,000 for the land and $100,000 for the improvements). Ms. Gossell presented a map outlining the appellant's property and the comparable property sales in the area. The information presented supports the current assessment. She added that if the appellant's new construction has been completed, there will be no more valuations of the property for four years. Hearing no further testimony, Chairman Marlow closed the hearing. The Board will make a determination at a later date. Board of Equalization Minutes - November 5, 2007 Paj(e: 10 Dan & Roxane Withers 1400 W. Ludlow Ridge Road Port Ludlow, W A 98365 BOE: 07-112-R PN: 821104 008 Dan & Roxane Withers were not present. Appraiser Maryn Gossell represented the Assessor's office and was sworn in by Chairman Marlow. Under appeal is a residence situated on a waterfront lot located at 1400 W. Ludlow Ridge Road, Port Ludlow. The appellants wrote on their petition form that they are appealing their property valuation for the following reason: "No property sales in this area have taken place that are this high." They listed the following comparable property sales in support of their appeal. 1. Parcel #821 103 008 Address: 1361 E. Ludlow Ridge Road, Port Ludlow Sale Price: $1,225,000 Sale Date: 11/09/05 2. Parcel #821 103012 Address: 1411 E. Ludlow Ridge Road Sale Price: $180,000 Sale Date: 09/15/03 3. Parcel #821 103010 Address: 1331 E. Ludlow Ridge Road Sale Price: $246,000 Sale Date: 06/15/03 4. Parcel #821 104006 Address: 1300 E. Ludlow Ridge Road Sale Price: $475,000 Sale Date: 02/21/03 The property is currently assessed at $1,277,170 ($560,000 for the land and $717,170 for the improvements). The appellants estimate the value is $1,000,000 ($300,000 for the land and $700,000 for the improvements). Ms. Gossell stated she used four indicators of value to assess this property. She presented an aerial photograph of the area as well as a map outlining the appellant's property; the comparable properties presented by both parties; and two properties currently on the market (one is a bare land parcel listed at $570,000 and the other is the appellant's property listed at $1,750,000). An independent appraisal ofthe appellant's property was completed in December 2005 which indicated a value at that time of$I,320,000. The current County assessment is $1,277,170. Three of the comparable property sales presented by the appellant occurred in 2003. While they did occur within the four year revaluation period, they are not current sales and do not reflect the market value Board of Equalization Minutes - November 5, 2007 PaRe: 11 increase of properties that occurred in 2005 and 2006. She used more recent sales in support of her valuation which was based on 7 comparable property sales. In order to be more comparable with the amenities of the appellant's property, the 7 sales she used were all located outside the Port Ludlow Master Planned Resort (MPR) community. This property is located in the community at Tala Point which is gated and located off of Paradise Bay road. It is one of 17 properties that share an interest in the tidelands. The appellant's property is 4.74 acres in size and is one of the larger parcels in this commuuity. The land is valued at a base rate of $500,000 with an additional $50,000 due to its larger size. All these parcels are high bank waterfront with no access to the beach which is why they are valued per site rather than at a front foot rate. Hearing no further testimony, Chairman Marlow closed the hearing. The Board will make a determination at a later date. Member DeLeo was not present for the following hearing. Richard Rein, Trustee R & P Rein Revocable Trust 1300 E. Ludlow Ridge Road Port Ludlow, W A 98365 BOE: 07-114-R PN: 821104006 Richard Rein was not present. Appraiser Maryn Gossell represented the Assessor's office and was sworn in by Chairman Marlow. Under appeal is a residence situated on a waterfront lot located at 1300 E. Ludlow Ridge Road, Port Ludlow. The appellant \\Tote on his petition form that he is appealing his property valuation for the following reason: "Much of the acreage of this property is under water or unstable high bank given to slides. Only I acre is usable. Houses are not selling at the appraised value." He listed the following comparable property sales in support of his appeal. I. Parcel #821 103 008 Address: 1361 E. Ludlow Ridge Road, Port Ludlow Sale Price: $1,225,000 Sale Date: 11/09/05 2. Parcel #821 103012 Address: 1411 E. Ludlow Ridge Road Sale Price: $180,000 Sale Date: 09/15/03 3. Parcel #821 103010 Address: 1331 E. Ludlow Ridge Road Sale Price: $246,000 Sale Date: 06/15/03 Board of Equalization Minutes - November 5, 2007 Page: 12 The property is currently assessed at $905,185 ($560,000 for the land and $345,185 for the improvements). The appellant estimates the value is $583,000 ($265,000 for the land and $318,000 for the improvements). Ms. Gossell stated that this property is located in the private gated community at Tala Point. There are 19 parcels on Tala Point, but, only 17 share the tidelands. There are four indicators of value for property in the area, and the current assessment of the appellant's property is below all of them. She presented an aerial photograph ofthe area as well as a map outlining the appellant's property; the comparable properties presented by both parties; and two properties currently on the market (one is a bare land parcel listed at $570,000 and the other is an improved parcel listed at $1,750,000 with an independent appraisal completed in December 2005 indicating a value of $1 ,320,000). Comparable property # 1 sold in November 2005 for $1,225,000. The appellant noted on his petition that much of his property is under water and that it is unstable and given to slides. During her physical inspection ofthe property she did not see where any of it is under water and she is not aware of any current slides. She doesn't think any bank is considered "stable". The value ofthe property was based on 7 comparable property sales. In order to be more comparable with the amenities of the appellant's property, the 7 sales she used were all located outside the Port Ludlow Master Planned Resort (MPR) community. All the parcels on the point are high bank waterfront with no access to the beach and are being valued per site rather than at a front foot rate. Two of the appellant's comparable property sales occurred in 2003. While they did occur within the four year revaluation period, they are not current sales and do not reflect the market value. Hearing no further testimony, Chairman Marlow closed the hearing. The Board will make a determination at a later date. Vice-Chairman Broders moved to adjourn the meeting until 9:30 a.m. Wednesday, November 7, 2007. Chairman Marlow seconded the motion. The motion carried. Atte2: , n 7}. . ~(_ (j'LI L. .' ." tL' /~ ',C../ Erin Lundgren, C erk of the ,ara JEFFERSON COUNTY BOARD OF EQUALIZATION /~-~- William S. .~7ljo~}J::1a.i.r[an ~ .l/ 14 / . \..--..J 1;t-, /' '--~ I C Richard A. Broders, Vice-Chairm"1II1----... (Deeetl5ul) James A. DeLeo, Member