The URL can be used to link to this page

Home My WebLink About2012-06-06 MINUTES (ATTACHMENT 06.A.)May 28, 2012 City of Cottage Grove 7516 80th St. So. Cottage Grove, MN 55016 RE: PID 36.027.21.44.0013 and PID 36.027.21.44.0014 Attn: Mayor and/or City Clerk, We are disagreeing with the city that our residential property is being assessed. The residential property should not be assessed at all. Point one, we are no longer on a dead end street with a cut de sac. All the traffic going in and out to the business and homes, have to drive by our property now. In other residential developments, people pay a premium for a lot on a cut de sac, and the lots right off a main entrance are discounted. Point two, the way the road is situated now, the head lights shine across our entire house as vehicles come in. Point three, we had a lot of trees blocking the highway and more space between our property and the road. Cut de sac with tree, no head lights, traffic, and off of the main entrance where all the traffic has to drive by, are all premiums when people are looking to purchase their home. We had them all before the project and lost them all after the project. Point four, our driveway is an easement through a commercial property. Point five, our property is not directly on the road, and have no direct benefit from it Point six, there is one other resident to north of us, that sits right behind Erickson Marine, that did not get accessed. And they drive directly on the new road, and also use more of the new road. Point seven, there is another resident at the very end of the road that his driveway ends at the new road. He uses the whole length of it to get in and out. And got assessed nothing for it. Point eight, we feel a couple of residences close to the old entrance have benefited from the new road, with less traffic and headlights. Now they are all a little further from the traffic and noise. Point nine, we aware that the neighborhood was accessed for earlier road construction, and we were not assessed. It seems that we are getting singled out for this, but I believe there is only negative impact to our residential property. Point ten, in 2011 two appraisals were done on this property. One by the city's appraiser and one by our appraiser. Each appraisal showing no increase to the property value after the road construction. In summary we are not advocating that other residence should be assessed for the construction project. It is our belief we should not be assessed either. We have been citizens of Cottage Grove since 1990 not having any problems paying our property taxes and assessments. We are not opposed to paying our fair share, but after the road construction, our residential property value has decreased and we paid enough with th F Sincerely, Al Swenson &Rhonda Swenson 11865 W. Pt. Douglas Rd., Hastings, MN 55033 6 1- 214 -3038 Based: rm the adjusted comparablc sale~ as well as the foregoing liming data as or the date or valuation. market evidence supluirts a value for the subject laud of apprnximaiely $175 per square ('trot. Land Area 237.769 Sh f5.458 acres) 231768 SP x $2,75/S1 - $ 651.962_ rounded to 9;654,0011 The usable and buildahle portion of' the .subject property, which is the high ground in he northerly and cculral parts ol''he property, has a greater value per square runt than unhuild;tble siceply sloped and love - lying portion in the souffle end. Based on calculations rrror avaimbie mapo the sloped and/or low-lying southerly end comprises roughly 20"/1, or the parcel or about 47354 SF. The loft lying, steeply sWping unhuddable area has limned utility and In" limited value, relative to die buildable area. 'lTough modest. the unbuildable area is judged to make some contribution in the overall property value. Ill my opinion, tic colllrihutory value il l' the unbuildable 20% tq the silo is approximately Ims o f' the contributory value, oii a per - square -fool basis, of the b high ground. Based on this conclusion. the value allocation helweun the sub 'all(' arch's is approximated as follows: 191214 SF Buildable to $3054W $637,979 41554 SF llnhuildahle ;it) $0.335 /SF $ 15,931 237.766 SF Total $653,909 Rounded $654,000 OPINION OF iZA4'r PARCEL LAND VALUE, - BEFORE ACQWSITION: $654,100 Summary of Gann Value Berore West Parcel '$'175.000 Gast Parcel $654,00U Total Land Value $829,000 LAND VALUE I3I?FORE ACQUISITION: $829,00(! 1'1t.@ 48 ItItKN APPRAISALS, INC'. The owner rclOquisheg control and possession of tilt encunitered area for a 1wriod of 15 mou ths or 1.25 years, and the compcgsatinn icgtlired Iol th+s is measured by "land rent," or a return on the value of the !unit to he encumbered. Based on c onsidcralion of current rules of return for various investments with varying degrees of risk, as well as consideration of file attributes of the subject land and its invesnuent risk profile, it is concluded that an 8 ", annual rate of` return is applicable. The reversion factor for 115 years discounted at Rot per your is 0,91178. Land Valtte As I Nowumticred: 21174 SF ( OMS no :u- $2.672 1 SP = $7.947 Rcvcrsian l actor Ibr 1.25 years iii) 8"1�1: ().9!178 Present Value )I'LandRs iulcumhcred: $7.947 t 0.9678 _ $721 =1 Rounded to �?sdY�c- afTe><npoa:ir� hascrHCitfi�ncutflitcred Land ti7,2t10 In rounded fif±urca, the above calculations indicate a lend value of $7000 as unwicumhered and MOO as encumbered, which results in value damages rruni the temporary casement encumbrance of 57011. Summary of East Parcel Value i3uild;thlo-thie.ncwtihcrcd $276042 t )nfnlildat lc -t ! neatc uiiibcroct 115019 i neilt Ilsement-lommibered Land Q 1'eii+liot uy Easement- I?ue,umbered Land 720Q I.and Witte AHer- EuM Pame1` $2914160 Rounded ~298,700 Summary Of Land Value After Aequisitiun West Parcel $171800 East i'arcel $29000 Land Value After 5471,500 LAND VALUE AFITIIiR ACQUIS111ON: $471000 PAGE < t: 7 0 uRKAV APPRAISALS. INC. SWENSON PROPERTY SUMMARY OF SALIE FACTS AND CONCLUSIONS Address Property Type Owner of Record Tax ID Total Land Area Before - Commercial After - Commercial Before - Rcsi&AMW After - Residential Highest and Best Use Highest and Best Use - As Improved Exposure Time; Marketing Period Effective Date of the Appraisal Date of the Report Property hrterest Appraised Number of Sales Range of Sale Dates Range of Prices per SF (Unadjusted) Ind i c ate d Value .._._.___..,..., n.�Cidei Number of Sales Range of Sale Dates Range of Prices per SF (Unadjusted) Indicated Value _ 5 Apr 09 to Jan 10 50.94 - S1.27 Value UE 5 Apr 09 to Jail 10 50.94 - S1.27 S24 ?,000 'temporary Easement Value of Lost Improv T0Ta1 Indicated 3ust CompensaUOn p tth in the accop, } The values reported above are subject to the definitions, assum tions, and litniting conditions set tom tn'ing report of 1t ]]tell this summary is a part. No party other than the subj cut. The sunvnary shown above is for the convenience of ect owners, or Leonard Street and Deinard may use or rely on the information, opinions, and conclusions contained in tile rep Leonard Street and Deinard, Mad therefore it is assumed that the user3 of the report have read the entire report, including all of the definitions, assumptions, and limiting conditions contained therein. Swenson rropcay 11865 Point Douglas Drive South Cottage Grove, Minnesota 55016 Land Alan E. Swenson and Rhonda K. Ott - Swenson 36.02721.44.001 and 36.027.21.44.0013 1.1.19 acres; 487,436 SF 5.46 acres; 237,838 SF 3.49 acres; 151,858 SF 5.73 acres; 249,599 SF 5.67 acres; 24 SF B-3, General Business & R -2, Residenhat tsstate Retail- CommeciallSingle- Family Residential Retail- Commercial/Single- Family Residential 12 to 36 months: 12 to 36 months May 2, 2611 May 1. 2012 Fee Simp Before 5 Feb 09 to Oct I 1 53.14 - S9.53 $ 1.189, 000 Alter 5 Feb 09 to Oct 11 S3.14 - S9.53 5509, FILE NUMBER: 124 - 2010 -U944 Interest Appraised Date of Value Conclusion Appraisal Premise Fee Sim le p May 2, 2011 51,439,000 Market Vahte Before Partiat Acquisition Market Value After Partial Acquisition Fee Sim Subject 2, 2011 5756,000 T May 5683,000 Dimuniton 51,000 'temporary Easement Value of Lost Improv T0Ta1 Indicated 3ust CompensaUOn p tth in the accop, } The values reported above are subject to the definitions, assum tions, and litniting conditions set tom tn'ing report of 1t ]]tell this summary is a part. No party other than the subj cut. The sunvnary shown above is for the convenience of ect owners, or Leonard Street and Deinard may use or rely on the information, opinions, and conclusions contained in tile rep Leonard Street and Deinard, Mad therefore it is assumed that the user3 of the report have read the entire report, including all of the definitions, assumptions, and limiting conditions contained therein. Swenson rropcay 11865 Point Douglas Drive South Cottage Grove, Minnesota 55016 Land Alan E. Swenson and Rhonda K. Ott - Swenson 36.02721.44.001 and 36.027.21.44.0013 1.1.19 acres; 487,436 SF 5.46 acres; 237,838 SF 3.49 acres; 151,858 SF 5.73 acres; 249,599 SF 5.67 acres; 24 SF B-3, General Business & R -2, Residenhat tsstate Retail- CommeciallSingle- Family Residential Retail- Commercial/Single- Family Residential 12 to 36 months: 12 to 36 months May 2, 2611 May 1. 2012 Fee Simp Before 5 Feb 09 to Oct I 1 53.14 - S9.53 $ 1.189, 000 Alter 5 Feb 09 to Oct 11 S3.14 - S9.53 5509, FILE NUMBER: 124 - 2010 -U944