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IIINUTES OF THE IEETING OF THE EDINA BOARD <br />OF REVIEW HELD IIONDAY, JUNE 11, 1973 <br />AT 4:30 P.M. AT EDINA VILLAGE HALL <br />Councilmen Courtney, Johnson, Shaw, Van Valkenburg and Mayor Bredesen served as <br />Board of Review. The meeting was convened at 4:30 p.m., pursuant to "Notice of <br />Review Meeting: published in the Edina Sun on May 31, 1973, and posted on three <br />~ Village Bulletin Boards on June 1, 1973. Village Assessor Swanson advised that <br />the 1973 Total Real Estate Value will be affected by Minnesota legislation <br />which limits any 1973 increase in residential values to 5% of the existing 1972 <br />value. Any new construction value is over and above such limitation. Mr. <br />Swanson said that approximately 80% of the residential values were increased <br />5% for 1973 prior to any legislation. <br />assessment, accordint to Minnesota Statute, the Assessing Department has <br />attempted to bring all values to the level indicated by the current real <br />estate market. Sales studies indicate that 1973 residential real estate values <br />are approximately 89.0% of the selling prices as of May, 1973. <br />ing recapitulation of the 1973 assessment was given by Nr. Swanson showing the <br />estimated 1973 real estate assessed value at $309,834,239.00 with the Auditor's <br />regorted value, $283,618,311, resulting in an increase of $26,215,928 or <br />approximately 9.25%. <br />given at $4,651,951, and an Auditor's 1972 reported value of'$4,289,594 resulted . <br />in an increase of 10.8%. <br />sented as fOllOt7S: <br />Assessment Assessment Sales 1 Increase Assessment <br />I He added that, in preparing the 1973 <br />The follow- <br />Estimated 1973 personal property assessed value was <br />Assessments/Sales Ratio for pfior. years were pre- <br />Year Ratio Period <br />1968 93.9 15% 2 years <br />1970 92.7 21% 2 years <br />1972 95.3 11% 2 years <br />1973 96.6 5% 1 year <br />Nembers of the audience were advised that those holding numbers 1 thru 15 <br />would be heard at this meeting, those with numbers 16 thru 30 would be heard <br />on June 13 and those with numbers 31 thru 50 would be considered on June 14, <br />1973. Those who will be unable to return were asked to submit a written state- <br />ment . <br />his company's valuation from $6,000,000 in 1972 to $6,300,000 in 1973. <br />that the property had been decreased in value in 1972 but that 2/3 of that <br />1.- Mr. Carl Heinzman, representing J. C. Penney Company, protested the increase of -< <br />amount has been added this year. He suggested that the property should use the <br />fifth year sales as a base of taxation and said that the valuation was out of <br />He said <br />- <br />I . line with other Southdale properties. <br />tion on the cost of the land and of-the cost of the building. <br />Mr. Heinzman agreed to furnish informa- <br />Mr. Dale Johnson, 5816 Dewey Hill Road, objected to the increase in his valu- <br />ation from $65,300 in 1972 to $68,600 in 1973. He said that approximately 20% <br />of homes on Dewey Hill Road are for sale, probably because of increased traffic <br />and that his house could be replaced in the low $40,000 bracket in addition to <br />$9,000 for his lot. <br />property and that sales in the area will be checked. <br />IIr. Swanson said that a personal review will be made of the <br />Mr. Ray A. Anderson, 5004 Normandale Court, objected to the increase in his valu- <br />ation from $46,100 in 1972 to $48,400 in 1973. <br />raise all values at the same rate and that his property value had been decreased <br />because of the widening of T.H. 100. <br />been sold in his area-except for those purchased for highway right-of-way by <br />the State. One adjacent house which was four years old, but somewhat smaller <br />than.his house, was purchased for $42,000 by the State. <br />inspect the house again, the last inspection having been made Ndvember 18, 1970. <br />Mr. Anderson added that Carl Hansen was not interested in taking his house in <br />trade. <br />He said that it is not fair to <br />Mr. Anderson said that no houses have <br />Mr. Swanson will <br />Mrs . Ernest Lawrence, <br />perty from $35,100 in <br />perty is only one lot I 6521 Wilryan Ave., objected to the increase of her pro= <br />1972 to $36,900 in 1973. Mrs. Lawrence said that the pro- <br />away from T.H. 100 and is in a neighborhood of older homes. <br />She added that the widening of 1.7. 66th Street will also decrease her valuation. <br />It was brought out that the 1970 assessment of $34,300 had been adjusted to <br />$31,830. The Assessor will make a personal inspection of the property. <br />Mr. Garnold S. Nelson, 4604 Annaway Drive, objected to the increase of the valu- <br />ation of his property from $86,000 in 1972 to $92,000.id 1973. Mr. Nelson <br />quoted prices of properties sold in his neighborhood which included 4602, 4603, <br />4612 Annaway Drive and 4800 and 4909 Rolling.Green Parkway. <br />h%uses are all larger than his and sold for less than his .house. <br />He said that thes <br />He advised