Town of Bayview – May 11^th, 2011
Board of Review – 6:00 p.m.
Bayfield Town Hall

The Town of Bayview Board of Review was called to order at 6:00 p.m. by the Town Chairman, Al House.

Roll Call:  Larry Nelson, Supervisor; Charly Ray, Supervisor; Wanda Hyde, Clerk and Al House Chairman.

Board of Review Chairman Al House requested Wanda Hyde Clerk introduce the first case.

Wanda Hyde stated that this case is of Frank Woods Peterson and the address for the property in question is 77830 N. Houghton Point Rd Washburn WI. The Tax key # for this property is #7071 and is residential.  The 2010 value in the assessment roll is:

Land                                      $302,700

Improvements                  $671,300

Total                                      $974,000

The Chairperson requested the clerk to swear in the witness.

The Clerk stated:  Would all persons, including the Assessor, intending to provide testimony for this hearing please raise your right hand to be sworn.

“Do you solemnly swear that the testimony which you shall give in the matter now on the hearing shall be the truth, the whole truth, and nothing but the truth so help you God?” Would each person who has just been sworn please stat your name and address for the record.

The Chairman asked if the appraiser would be available and Tyler Wickman stated no.

The Chairman gave a quick rundown as to how these proceedings should be handled.

The Chairman asked for each person to identify themselves.  Tyler Wickman stated that he was representing Frank and Linda Peterson, address 77830 N. Houghton Point Rd. Washburn WI. and in his opinion the fair market value of said property is $668,000.  He also states that there was an objection to Mr. House taking part in this hearing.  The Clerk questioned whether Al House could be removed when he was the only one with the official training.  Assessor Doug Kurtzweil stated the property owner could ask for the removal of one board member without cause, and that it would still be a legal proceeding, but that person was to stick around and give guidance as needed but would have to refrain from discussion and questioning.  At this point Al House stated “I recuse.”

Al would still act as chair for procedural purposes.

Tyler Wickman presented the Board with an appraisal that was made by Kenneth R. Wheeler of the Frank Woods Peterson property dated 12/8/2010 for loan purposes. This appraisal showed a fair market value of $668,000.  This appraisal is the bases for Mr. Peterson’s objection.  Mr. Wickman stated it appears that there was approximately a 50% increase in one year.  Mr. Peterson believes the appraised value of $668,000 is the accurate value of his property.

Doug Kurtzweil the Town Assessor asked what was the cost of improvements and what was the dollar amount the home was insured for?  The land acquisition price in 2000 was 250,000 and cost of improvements was $1,000,000.  Mr. Peterson moved in the home in 2006.  No insurance information was available.

At this time questions were asked by the Board of Review of the Assessor, Doug Kurtzweil and Mr. Peterson’s attorney Tyler Wickman.

Tyler Wickman, Attorney at this time gave summary of reasons for requesting that Assessment of Frank & Linda Petersons property was assessed two high.

668. Refinancing in December 2010 – Mr. Peterson would have liked to borrow as much as he could have and banks only lend up to 80% of appraised value by Certified Appraiser of $668.000.
669. Sales of Property that are similar (Peterson home 3985 sq ft Living space – Lake View-1 story- lake shore 228’)
670. 31500 CTH J Bayfield 4,500 sq ft living space – Lake view – 3 story – 160’ Lakeshore -Sold for $430,000
671. 2984 North Shore Rd, LaPointe 1,792 sq ft living space – Lakeview – 1.5 Story – 250’ lakeshore – Sold for $530,000.
672. 958 Big Bay Rd, LaPointe 1,920 sq ft living space – lake view – 1.5 stories – 236’ lakeshore – Sold for $610,000.
673. Homes not selling – to go from $666,000 to $974,000 is quite a jump in a down economy.
674. Assessed Value too high, homes not sell people are being foreclosed on.
675. If were to try and sell this property banks would only lend 80% of bank appraised value.

Doug Kurtzweil, Assessor reported on his assessment of the Frank & Linda Peterson property.

1. Frank Woods Peterson states in his objection that he purchased said property in 2000 at $250,000. He has since improved property to the cost of $1,000,000. He moved in to this property in 2006.
2. Recent sales in Town of Bayview: One with 2600 sq ft and 175’ lakeshore sold in 2009 for $1,073.000 and another that had 1900 sq ft and 255 ‘ of lakeshore sold for $670,000.
3. Last re-evaluation was done in 2002. In 2009 Peterson’s evaluation was at 65% of fair market value which was $666,000.
4. In 2010 when he re-evaluated the property it was changed to $974,000 which is at 97% of fair market value.
5. Fair market value in Wisconsin has not dropped.

There being no more questions a motion was made by Larry Nelson and Charly Ray second to close this Review of Assessment .  Roll call vote:  Larry Nelson, yes; Charly Ray; yes; Wanda Hyde, Yes; Al House recuse.  Motion carried.

Charly Ray noted that he found the Assessor Evaluation is correct.  Larry Nelson and Wanda Hyde stated they agreed with that.

Motion was made by Wanda Hyde seconded by Charly Ray, “I move that, exercising its judgment and discretion, pursuant to Sec. 70.47(9)(a) of the Wis. Statutes the Board of Review, by majority and roll call vote hereby determines: that the Frank Woods Peterson Property being Assessed at $974,000 is correct.”  Roll call vote:  Larry Nelson, yes; Charly Ray, yes; Wanda Hyde, yes; Al House recuse.  Motion carried.

Motion to adjourn by Charly Ray seconded by Larry Nelson.

Submitted by:

Wanda Hyde, Clerk

 

 

 

 

 

 

 

 

 

 

 

 

 

Vol.14 Page 279                                                                                                                                                approved 6/14/11