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, , , 33� would be scheduled for consideration as a City Council Agenda item and to the fact that Marshall & Stevens were to make use of the Study in preparing the 1977-78 Roll It was suggested considera- tion of the Study and description of the use made of it can be scheduled for a Council Agenda in August 1 Discussion followed and Mr Ference commented and replied to questions regarding the use of "trending"; the need for a physical reappraisal of residential property in GID No 1-64, the manner in which �t is determined whether the developer is contributing a fair share, and the difficulty of assessing commercial land since no sales of com- mercial land have taken place upon which to base appraisals George De Shazur, 563Compass Circle, stated that he believes an � assessment inequity exists with regard to the assessment of his property and that of his neighbor in that his property is assessed � at $80,024 while the neighbor's property is assessed at $66,000 for essentially the same property In response to question, Mr De Shazur acknowledged that he purchased his home two years ago while his neighbor was the original buyer of his home Mr Ference and Mr Reed invited Mr De Shazur to talk to them regarding his � assessment and suggested that if he �s not satisfied after doing so, he may file an appeal. It was po�nted out that assessments have generally been made on a percentage basis cons�dering the amounts for which comparable homes in the area have sold recently For that reason, it was � explained, the present assessed values on homes which were original purchases may be lower than for homes purchased at recent greatly inflated home prices , Councilman Norris stated for the record that it is his understanding that the Director of Finance has stated that with regard to de- veloped residential properties, improvements have been increased by 35% and land value by 20� in "trending" for the 1977-78 Assess- ment Roll Mr. Ference agreed that essentially the statement is correct, notin9 that the percentage increase is based on recent sales prices and suggested that the physical reappraisal of such , "properties is needed John Murphy, Planning Commissioner, 421 Luff Lane, whose property is rncluded among the examples of residential property in the District, inquired as to how land values are determined separately from the total developed residential property Mr Ference ex- plained that it is necessary to be fairly precise regarding land value �n order to be certain undeveloped land is bearing a fa�r ' share of the tax burden, and observed that lot size and location influence the value of particular parcels Mr Reed advised that land value of developed residential lots usually represents 20-25k � of the total property value. � In response to question, City Attorney Schricker advised that it is possible to continue the public hearing open until August 8 when it can be the first item for consideration at the time of the regular ' Council Meeting. , MOTION Councilman Norris moved, seconded by Councilman Biagi, to continue open the public hearing on the Assessment Roll for GID No 1-64 for 1977-78 until 7 30 p m, Monday, August 8, 1977 in the Buard of Supervisors Chambers. The motion carried unanimously by voice vote (MINUTE ORDER NO 77-152) The public hearing was then recessed at 10:40 a m until August 8, 1977 JACQUELINE C HILDEBRAND City Clerk- Brd /Eq -2- 7/18/77 �� �--