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CITY OF ALBERTVILLE
LOCAL BOARD OF APPEAL AND EQUALIZATION
April 17, 2013
ADOPTED MINUTES
ALBERTVILLE CITY HALL
ROLL CALL
5:30 PM
PRESENT: Board members John Vetsch, Rob Olson, Larry Sorensen and Dan Wagner
OTHERS PRESENT: City Administrator/PWD Adam Nafstad, City Clerk Kimberly Olson,
Wright County Assessor Wally Peterson, and Wright County Assessor Tony Rasmuson.
ABSENT: Board members Jillian Hendrickson
PRESENTATION - WRIGHT COUNTY ASSESSOR'S OFFICE
Wright County Assessor Peterson began by explaining that the purpose of Local Board of
Appeal and Equalization is to review the assessment of property. This Local Board of Appeal
and Equalization is being held for the 2013 assessment for taxes due and payable in 2014. The
Board does not have the authority to change any prior year's assessments. The Local Board does
not have the authority to grant an exemption or to order property to be removed from the tax
rolls. A quorum must be present and at least one of the members must be `Training Certified'
under Minnesota State Statutes Section 274.014 and both Vetsch and Sorensen have been
certified.
State law requires the assessor to be at 100% of market value; however, the Statutes allow the
Assessor to be within a range of 90 to 105 percent of market value. The sales ratio study time
frame is from October 1, 2011 thru September 30, 2012. The sales date gathered from this ratio
period is used to appraise property as of the January 2, 2013 assessment date. There were 756
residential and seasonal/recreational properties used in the County wide sales study and had a
time adjusted median ratio of 96.97 %. and a time adjusted ratio of 98 %. There was a County
wide reduction of 0.91% on this type of property. There were 894 bank/foreclosure short sales
County wide. There were 24 commercial properties used in the County wide sales study. The
adjusted means ratio was 101% and there a County wide reduction of 1.04% reduction in this of
property. The current assessment meets or exceeds standards for uniform assessment in all
jurisdictions established by the International Association of Assessment Officers.
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Peterson reported there were 42 qualified sales during the period with a median sales ratio of
89% and 95.4% time adjusted ratio. There were 65 unqualified or foreclosure/bank sales and the
final time adjusted ratio came in at 96 %. Currently, there are already 41 qualified sales in this
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City of Albertville Meeting Minutes
Local Board of Appeal and Equalization
April 17, 2013
Page 2 of 2
study period where there were only a total of 42 qualified sales in the entire last study period.
Also, there are less unqualified sales and they hope that trend continues. He reported on the ten
year history of new home permits: there were 157 in 2003, 0 in 2009 and back up with 11 in
2012. Residential values increased 8.19 %, commercial values decreased 0.78% and apartment
values went up 7.2 %.
Vetsch questioned the new time adjusted ratio. Peterson stated in the past they were looking at
values in arrears and now with the change made last year, they look "forward ", more closely
resembling the current market.
Peterson reported the call volume was down this year and he received maybe five calls for
Albertville. They did not have anyone contact them to appeal their assessment. However, they
do have some that skip the local appeal process and instead hire an attorney and file a petition in
tax court.
Vetsch inquired about the golf course. Peterson stated that although there is distress on some
golf courses, the golf course in Albertville has stayed the same.
Peterson reported that foreclosure prices are getting closer to assessed values and they hope that
will continue. He stated that mortgage rates are good right now and the only things he sees as
obstacles are the uncertainty in the market, fuel prices and getting qualification for a mortgage.
ADJOURNMENT
Motioned by Sorensen, seconded by Olson, to adjourn the meeting at 6:02 p.m. Ayes: Vetsch,
Olson, Sorensen and Wagner. Nays: None. Absent. Hendrickson. MOTIONDECLARED
CARRIED.
Respectfully submitted,
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Kimberly A-. 'Olson, City Clerk
M:\Public Data \City Council \Council Minutes\2013 Minutes\M 04 17 2013 Board of Appeal & Equalization Minutes.doc