City Council approves property assessments for 2022
The Jamestown City Council, sitting as the Jamestown Board of Equalization, unanimously approved the real property assessments for 2022 in the total aggregate of more than $52.1 million, a 4% increase from the previous year.
JAMESTOWN – The Jamestown City Council, sitting as the Jamestown Board of Equalization, unanimously approved the real property assessments for 2022 in the total aggregate of more than $52.1 million, a 4% increase from the previous year.
Councilman Dan Buchanan was absent from the meeting Tuesday, April 12.
The total aggregate of $52.1 million is subject to adjustments to the Homestead Credit and disability reductions. The total taxable value in 2021 was more than $49.8 million.
Jamison Veil, city assessor, said the residential sales ratio was 87.7%.
“With our new construction increases and our demolition decreases, value from last year to this year in Jamestown is sitting at 92.5% indicated market value,” he said. North Dakota Century Code requires the ratio to be between 90% and 100%.
He said residential properties saw almost a 6% increase of taxable value and commercial properties increased by a little more than 2.5%.
Veil said less than 1% of new construction was attributed to the valuation this year.
“So the overall change less new construction for all classified property, commercial and residential, the percent total would be 4%, so we had about a 0.5% change that was due to new construction only,” he said.
Reappraisals are done throughout the year, and Veil’s office completes a reappraisal on any building permits that are issued, he said.
“Based on our sales ratio study we are making adjustments throughout the year to different classifications of property,” he said. “This year, ag and vacant lot, we did increase 5%. Residential in between 4% to 6%, commercial 3% to 6%.”
The city of Jamestown issued 80 building permits – 60 residential and 20 commercial – from Feb. 1, 2021, through Jan. 31.
“Of that, the value of the new construction is given there, a little more than $3 million for residential and just about $3 million for commercial,” he said. “It should be noted that there are other properties that are not included in the count that are included in the value of new construction. That is due to partial completes from previous years.”
Veil said the average sales price for 236 residential homes in 2021 was just under $191,000, which was about a 7% increase from the previous year, Veil said.
The City Council also unanimously approved a valuation of $76,300 for the property listed at 317 10th St. SW.
Wilmar Traut, who was not present at the meeting, was the only property owner who disagreed with the valuation of $76,300, which is an increase of more than $23,000 from the previous year.
Veil said Traut cited a number of discouraging property attributes including a skewed lot where the house sits skewed to the lot layout, no alley access, a narrow street, inadequate parking on the street, the east side of the house and most of the driveway encroaching the property line of the neighboring lot, an inability to rebuild if the house is destroyed, liability to construct a garage, the property being surrounded by commercial businesses, the basement needing to be replaced and the inability to do anything on the east side of the property.
Veil said several factors listed as detrimental are addressed in the land value, which is $9,000. He said the easement that Traut lists as detriment to the property was in place prior to his purchase.
He said the owner could rebuild if the property was destroyed per the city’s zoning ordinance. He said the assessment office conducted a reappraisal on the property with the information of the interior that was given by Traut as well as an exterior inspection of the home.
A comparable sales analysis showed $86,000 as the value for the property.