BOE Min 1991-12-02 - Laserfiche WebLink

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Findings and Conclusions Upon Application for Assessment Adjustment-Assessor's Parcel No. 111-610-130 FINDINGS OF FACT: 1. The verified application for assessment adjustment of Karen Ann Brown (the "Applicant") with respect to that certain property located in Redwood City General Improvement District No. 1-64 and designated by Assessor's Parcel No. ("APN") 111-610-130 (the "Property") was filed on July 25, 1991. 2. Written notice of hearing on the application was transmitted to the Applicant by certified letter dated November 6, 1991, apprising the Applicant of the date, time and place for hearing on the application. 3. No appearance was made by or for the Applicant at the hearing on the application. 4. The verified application for assessment adjustment shows that the assessed values established by the District Assessor for the subject property are: (a) Land - $21,250.00; (b) Improvements - $47,500.00; (c) Total Assessed Value - $68,750.00. The aspplication further shows that the Applicant's opinion of the assessed values of the property are: (a) Land - $20,000.00; (b) Improvements - $37,000.00; (c) Land and Improvements - $57,000.00 5. Applying the assessment ratio established by the District Assessor to the foregoing total assessed values of the Property and to the Applicant's opinion of the assessed values, :he full values of the Property determined by the Assessor and opined by the Applicant are, respectively: Full Value Assessor's Value $275,000.00 Applicant's Opinion of Value $228,000.00 6. The Applicant bases her opinion of value, in part, upon the ground that the Assessor's value exceeds the recent sales price of this or comparable properties. However, no evidence was adduced in support of that ground. 7. The district Assessor relied, in part, upon the sale price of a "slightly larger model" of property which had been sold in January, 1991, for a sales price of $310,000~ Additionally, the Property was listed for sale for a price of $305,000 in February, 1991. 8. Adjusting the foregoing figures for differences in size (as the January, 1991, sale) anbd applying a reasonable price established by sale (as to the ._.__._~_.._,.._,~,,_..~='._.".- .,_.~~_...-......~.._-",_.,"_.~---- I