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<br />CENSUS TRACT <br /> <br />502.03 <br /> <br />REAL ESTATE TAXES AND ASSESSMENT <br /> <br />The Assessors Estimated Market Value and the Real Estate Taxes are as follows: <br /> <br />2oo3ASSESSOR'S ESTIMATED MARKET V ALUE: <br /> <br />2004 REAL ESTATE TAXES: <br /> <br />LAND: <br />BUILDING: <br />TOTAL: <br /> <br />$'76,700 <br />$82.000 <br />$158,700 <br /> <br />Tax exempt <br /> <br />mSTORY <br /> <br />The subject property has been in the possession of The City of St. Paul (Water Service) <br />for a number of years. No recorded transfers of ownership have occurred within the past five year <br />period. <br /> <br />ZONING <br /> <br />The portion of the subject property lying in Lino Lakes is zoned R-l, Residential. The <br />portion lying in Centerville is zoned PI - Public/Semi-private. <br /> <br />The R-1, Residential zoning for Lino Lakes requires a minimum lot size of 10,800 square <br />feet with a minimum setback from the high water mark of CentervilIe Lake of 75 feet. The <br />existing dwelling on the subject site is in violation of this setback requirement. The existing use <br />is allowed as a non-conforming use. If the dwelling were destroyed more than 50 %, the city could <br />require that the property comply with the existing requirements of the ordinance. We have <br />assumed that the owners of the subject property would adjust the width of the utility easement <br />across the subject site to accommodate the cons.truction of a new single family dwelling. <br /> <br />The PI - Public/Semi-private zoning by the city of CentervilIe is designated for some type <br />of public or institutional use and it would be very questionable that a rezoning to another use <br />would be allowed. We have however, valued the property at its highest and best use, which is <br />considered to be single family residential. <br /> <br />15 <br />