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<br />JEFFERSON COUNTY BOARD OF EQUALIZATION <br /> <br />A.C. Dalgleish <br />David G. Douglas <br />Archie Barber, Jr. <br /> <br />Cha1 rman <br />Vice-Chairman <br />Member <br />Al ternate <br /> <br />MINUTES <br /> <br />25 September 1987 <br /> <br />BOE-87-046-R : (Parcel No. 948-318-901) The Board inspected this parcel at 10:50 AM <br />on 09-23-87 and found the land to be somewhat neglected but improved. The building <br />appears to be of average construction but has suffered depreciation from neglect. <br />The Board decided to sustain tne current land valuation at $25,000 and to allow a 12% <br />depreciation on the building from $86,510 to $74,300 for a total valuation of $99,300, <br /> <br />BOE-87-048-C: (Parcel No. 989-704-203) The Board inspected this parcel at 1:00 PM <br />on 09-23-87 in the company of John Halberg representing the petitioner. This 220 ft x <br />600 ft. fronting on Washington street has been graded and paved for customer parking <br />purposes. Finding that the valuation of improvements to the lot at $24,000 was determined <br />from Marshall-Swift formulas and that the valuation of the land was vased on the front <br />footage on Washington Street, tne Board decided that it would disrupt downtown land <br />valuations to make any changed -- the Board sustained tne current valuation of the <br />parcel at $156,000, <br /> <br />BOE-87-049-C: (Parcel No. 989-704-206) The Board inspected this parcel at 1:00 PM <br />on 09-23-87 in the company of John Halberg representing the petitioner. The Board <br />decided to sustain the land valuation of $132,000 because it is consistant with valuation <br />along Water Street. InspectiIDn of the building made it clear that the Bank is finding <br />little current use of much of the upper floor for regular banking purposes in a branch <br />operation; therfore, it was determined that the 1984 valuation of the building i <br />improvements at $726,785 (using Marshall-Swift construction valuations) should be <br />reduced by 5% for depreciation to $690,400. The total valuation of the parcel should <br />be reduced to $822,400. <br /> <br />BOE-87-052-R (Parcel No. 996-400-307) The Board inspected this parcel at 11:17 AM <br />on 09-02-87. The parcel is located on 5 lots divided in half to house duplex buildings. <br />The land value of $4,000 per lot plus $1,000 for land improvements is consistent with <br />land valuation in the,iirea; therefore, the Board decided td:sustaio the land valuation <br />at< $2i1,1l00. Tne Board decided that tne current condition of the buildings would <br />warrant a 10% depreciation from $125,260 to $U2,250. The total valuation of the <br />parcel should be adjusted to $133,260. <br /> <br />BOE-87-053-R : (parecl No. 996-400-504 and 506) The Board inspected these two parcels <br />(adjacent to each other) at 11:37 AM on 09-02-87. Each parcel has 2~ lots valued at <br />$4,000 per lot plus $1,000 for land improvements. This valuation is consistent with <br />lot valued in the area. Each duplex unit is valued at $60,310 which is producing a <br />monthly income of $325. The Board decided to sustain the valuation of each of these <br />parcel at $71,310. <br /> <br />BOE-87-054-R: (Parcel No. 961-802-001 and 002) The Board inspected these parcels <br />(adjacent to each other) at 11:51 AM on 09-02-87. These parcels house two duplex units, <br />each unit on a 4-1ot parcel valued at $1,250 per lot plus $1,000 for land improvements. <br />The parcels are located on a main hl"ghway in Irongale, The duplex units are currently <br />valued at $60,655 each. The Board decided to sustain the current valuation of each <br />parcel at $66,655. <br /> <br />There being no further business before the Board for this day, the meeting was <br />adjourned until 9:00 AM on Monday, the 28th of September. <br />