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With respect to the effect of these new sales had on the overall market value of the City. <br /> For last years assessment, we saw a total market value of$401,214,100. Upon the <br /> application of the new sales information gathered this past year, the total market value of <br /> the City (tax base) rose by 7.2%to $429,940,900 for this 2018 assessment. Included in <br /> this new overall market value is $3,815,400 in new construction. <br /> I have included the Minneapolis Assn. of Realtors Residential Real Estate Report which <br /> includes much historical data surrounding the state of the real estate market in Centerville <br /> as well as the entire area. The 2017 Report states that market values increased by 3.4% <br /> in Centerville last year. The median sales price went from $235,000 in 2015, to $243,000 <br /> in 2017. The MAAR also noted that home values in the City have increased by 27.9% <br /> since 2014. This is indeed good news for homeowners in Centerville <br /> Looking Forward <br /> Presently there are 12 qualified residential sales of record for next year's 2019 <br /> assessment. Comparing these 2018 market values to the sales prices observed, a median <br /> sales price of 94.9% & coefficient of 5.5 is observed. If this present trend continues, we <br /> will most likely see continued overall growth in market values for next years' assessment. <br /> Closing <br /> As your City Assessor, it is my priority to represent your community with utmost dignity <br /> and respect, and to make every property owner feel as though they are being heard. <br /> Obviously, I'm not able to tell everyone just what they want to hear, but it is my hope <br /> that through explanation, and discussion, there can be a better understanding. <br /> If there are any questions from members of the City Council or City Staff, or City <br /> Residents, please do not hesitate to call me. I am available to City residents always <br /> during normal business hours and by appointment on evenings and weekends. <br /> In closing, I would like to take this opportunity to thank the City of Centerville for <br /> allowing me the privilege of serving as your City Assessor. I can assure you that I take <br /> the responsibilities of those duties most seriously. <br /> If you or anyone has questions relating to property tax assessment, I would be most <br /> pleased to discuss these issues with you. You can reach me at my office at(651) 464- <br /> 4862 or my cell at(612) 865-2149. <br /> Sincerely, <br /> Kenneth A. Tolzmann, SAMA#1939 <br /> Centerville City Assessor <br /> 2 <br />