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SPECIAL MEETING OF THE PEQUOT LAKES CITY COUNCIL <br />`-- BOARD OF REVIEW <br />THURSDAY, MAY 7, 2009 <br />PEQUOT LAKES CITY HALL <br />I.%.. <br />Members Present: Mayor Adams, Council Members Malecha, Nagel, Sjoblad, <br />and Ryan <br />Staff Present: Sandra Peine, City Clerk <br />Also Present: Darrel Olson, County Assessor and Rick Bymark <br />Call Meeting to Order <br />Mayor Adams called the Board of Review to order at 10:00 a.m. Mayor Adams <br />indicated that the purpose of the meeting was to review the assessments of the <br />current year in 2009 which are reflected in 2010. <br />The Mayor noted that the goal of the Board of Review meeting is to have a fair <br />and effective forum. She further noted that the Board is only able to deal with <br />market value or classification. <br />Assessor Darrel Olson and Rick Bymark were present. Assessor Darrel Olson <br />explained that there were reductions on many residential market values in <br />Pequot Lakes this year. He also stated that the limited market value will sunset <br />this year which may have cause some property values to increase. <br />The following individuals were heard regarding the 2009 property assessment: <br />TAYPAYER'S NAME: Bob Murphy <br />PROPERTY ID: 291130030070009 — Industrial Park — 2 large buildings. <br />MARKET VALUE: $410,000 <br />TAXPAYER'S COMMENTS: Taxpayer noted that the value is too high. <br />The property has been for sale for 18 months at $450,000 and has <br />recently dropped to $429,000. <br />ASSESSOR'S COMMENTS: Recent sale of a lot with a small building in <br />the Industrial Park for $265,000. <br />MAYOR ADAMS MOVED THAT THERE BE NO CHANGE TO THE <br />MARKET VALUE. COUNCIL MEMBER MALECHA SECONDED THE <br />