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<br />City of Centerville <br />City Council Meeting <br />April 8, 2009 <br /> <br />Mr. Hafferman stated that he had an outside company do an appraisal, and they came up <br />with an appraised value of $410,000.00. He stated that Mr. Toltzman told him that this <br />appraisal was not valid for assessment purposes since it used forced or bank sales as <br />comparables. However, his appraiser said that it is very valid and stands firm on his <br />appraised value of $4 10,000. Mr. Hafferman stated that there are many repairs that need to <br />be done to the house and that he does not believe the County should have appraised it for <br />$449,300. <br /> <br />Mr. Toltzman stated that he reviewed the house again. With respect to the needed repairs, <br />he only saw sheet rock cracks and no indication of the other problems that were indicated. <br />Mr. Toltzman stated that in 2008, the house was appraised at $575,800, in 2009, the house <br />was appraised at $526,000 and now, in 2010, it has been appraised at $449,300. He <br />explained that property values always run about one year behind. <br /> <br />Councilmember Broussard Vickers stated that she would like to have time to review this <br />information. <br /> <br />Discussion ensued. <br /> <br />Mayor Capra stated that the City Council would be reviewing this and would need more <br />information She stated that this matter would be recessed until the next City Council <br />Meeting. <br /> <br />Mr. Russell Lawrence. 7165 Clear Ridge <br /> <br />Mr. Lawrence appeared and said that he agrees with Mr. Hafferman. He showed <br />newspaper articles about values dropping. He stated that his value, based on foreclosures, <br />short sales and market value, is over assessed for 20 I O. He added that he has the smallest <br />house in the area. In 2009, it was assessed at $232,300, and for 2010, it was assessed at <br />$212,400. He stated that he does not understand how that could be correct, when he could <br />not sell the house now for more than $150,000. <br /> <br />Mr. Russell stated that he also owns another house in Centerville. He stated that in 2008- <br />2009 the value of that house dropped 6.1%; however, the house he is living in went up <br />0.4% (up by a couple thousand dollars). <br /> <br />Mr. Toltzman stated that he bases his values on qualified sales only, not on foreclosures <br />and/or short .sales. <br /> <br />Council member Paar explained that the declining values have not yet caught up and they <br />will show up a year later. He added that he does not want property values to get too low. <br />He would like his property value to stay the same or go up. <br /> <br />Mr. Mike Comstock. 1778 Dupre Road <br /> <br />Page 2 of7 <br /> <br />5 <br />