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buildable. The smaller parcel is less desirable, being pie-shaped <br /> with less desirable access and is valued at $6.50. He said that <br /> similar buildings were examined before the assessment was made and <br /> that Fluor is also partially incomplete. <br /> Neil Anderson, American Appraisal Associates, observed that the <br /> Wilson-Gates property, for example, has frontage on all four sides; is <br /> therefore worth more than the Fluor property; and is valued at $8.00 <br /> per square foot. <br /> In response to questions, Mr. Torkelson reported that Marine World <br /> • <br /> Africa USA property is valued at $1.75 and Parkwood 101 at $2.00 per <br /> square foot. <br /> Favorable comment was made concerning the work of the appraiser and <br /> the responses to questions relating to specific properties. It was <br /> pointed out that in view of the construction taking place at present, <br /> it is expected changes in assessed valuations of some of the if <br /> commercial property can be expected next year. <br /> Mr. Torkelson stated again that it is necessary for appraisers to make <br /> their determination of value based on the fair market value of similar <br /> properties in the marketplace, usually based on sales prices for such <br /> properties. He observed that assessment of residential properties is <br /> less difficult, since sales take place frequently within a small area, <br /> while it is necessary to go outside the immediate area to determine <br /> values of commercial properties, and that appraisers generally take a <br /> conservative view of values. <br /> MOTION: Stangel/Leipzig to reduce the following assessments in <br /> • accordance with the advice of District Assessor Ference in his letter <br /> of July 16, 1981: <br /> 0.1" Appraisal Corrected <br /> on Roll Adjustment Appraisal <br /> 095-012-01 15,788,705 2,002,130 13,786,575 <br /> 095-012-03 7,695,560 1,101,240 6,594,320 <br /> 095-012-04 1,942,323 10,480 1,931,843 <br /> 25,426,288 31,113,850 22,312,738 <br /> and to declare the Assessment Roll for General Improvement District <br /> No. 1-64 equalized as corrected. <br /> Carried unanimously by voice vote. MINUTE ORDER NO. 81-122 <br /> District Assessor Ference pointed out that the appeal period ends <br /> September 15, 1981 and that after that date, a meeting will be called <br /> to hear any appeals which may be filed. <br /> ADJOURNMENT <br /> Upon motion duly made, seconded and carried the Board of Equalization <br /> adjourned at 11:10 a.m. <br /> JACQUELINE C. HILDEBRAND <br /> City Clerk <br /> • <br /> Bd.Equal. <br /> 7/20/81 <br /> Page 3 <br /> ii <br /> 1 <br />