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M/S: Biagi/Bury that the appeal of assessment of William J. Hammerback, Jr. relating to Parcel 111-200-060 at 32 Eddystone Court be denied, because the example of comparable property provided by the appellant (16 Eddystone Court) is not a like property and the appraisal is fair in relation to similar properties. Discussion continued and Mr. Hammerback and Mr. Anderson replied to questions and commented concerning the relative value of the property now; the fact that experience may cause a location to become less desirable than anticipated by the developer; the lack of emphasis on listings; the dates of comparable sales information; the amount of difference between the appraisal of the appellant's property and a somewhat less desirable similar unit; and the latitude of the Board in granting applications for assessment adjustment. The motion failed on the following roll call vote: Ayes: Board Members Biagi, Bury and Rhodes Noes: Board Members Britschgi, Claire, Mosher and Chairman Stangel Discussion continued and Mr. Schricker replied to question regarding the poor evidence value of listings, noting that prices can be prompted by distress, by investments or the financial situation of the owners, and are affected by finance terms, interest rates, financial situation of buyer, etc. M/_: Britschgi/ to grant the application for assessment adjustment of William J. Hammerback, Jr. and establish the appraised value of his property at $122,500. The motion died for lack of a second. M/S: Claire/Biagi that the $7,500 difference between the appraised value of the property at 32 Eddystone Court and the example provided by the appellant at 16 Eddystone Court reflects too great a difference in value of the similar properties at different locations and that the appraised value of the property of William J. Hammerback, Jr. (Parcel 111-200-060) be reduced to $127,000. The motion carried on the following roll call vote: Ayes: Board Members Biagi, Britschgi, Claire, Mosher and Chairman Stangel Noes: Board Members Bury and Rhodes Finance Director Tasseff stated that the subject adjusted assessment will be reflected in the improvements which will be amended from $88,000 to $85,000. MINUTE ORDER NO. 83-166 ---------------------------------------------------------------------------------- Bd.Equal 11/21/83 Page 3 MINUTE BOOK NO. 44 Page No. 280 - , " -, -~~ ". - --- ._,------ -- "T'- -""""