Values rise 3 percent in Beaver Creek

Recent property sales in Beaver Creek prompted local assessors to increase market values.
However, the increase wasn’t as much as necessary to meet state requirements.
Tom Houselog, Rock County Land Records director, explained the increase in market values to Beaver Creek City Council members at their annual board of appeals and equalization meeting Wednesday evening, April 20.
Beaver Creek had five qualified sales from October 2014 to September 2015 with a median price at 84.95 percent of current market values.
State statute requires market values of similar properties to stay between 90 and 105 percent. The analysis of qualifying sales above or below that percentage determines if a particular market’s value is increased or decreased.
If six home sales occurred within the time period instead of five, Houselog said he would have been mandated to reach the 90 percent level this year. However, he was able to negotiate for an increase of half the amount under a plan with state officials.
Some properties in Beaver Creek experienced a significant drop in market value while others increased.
Houselog said he dropped the value of the Beaver Creek golf course and clubhouse a collective 24.5 percent. The course dropped 50 percent in market value with the lack of maintained greens. He said he treated the land value at 25 percent over the market value of pastureland. The value of the clubhouse was raised about 25 percent.
One sale of a shed prompted Houselog and city assessor Pete Jesson to take a closer look at all sheds located within the city of Beaver Creek.
Houselog said they found two distinct shed models with two other sheds similar to the one sold.
The research prompted one property to be increased 79.7 percent in value to bring that structure within the 95 percent of the sold shed’s market value.
Of the three residents attending the meeting, two questioned the large increase. “I felt it (the valuation) was extremely low to the other two,” Houselog said.
Jessen didn’t attend the April 20 public meeting.
The two developed a comparable market price formula for the sheds using the size, height, materials, purpose and age of the building rather than basing market value on the one qualified sale.
“We were just trying to equalize the same properties,” Houselog said.
After the analysis was applied to the shed properties, one property was at 100 percent of market value.
The council voted 3-0 (Mayor Jamie Dysthe abstained from voting and Josh Boomgaarden wasn’t at the meeting) to lower the value of the property at 314 E. First Ave. to the 95 percent level as the other comparable properties. Arnold and Debra Brondsema are listed as owners of the property, according to Houselog.
The council heard Ted Winter’s request to reduce the market value on his residential property at 201 S. Second St.
The home has a partial basement, which decreases the home’s value, Winter pointed out. Houselog agreed and the council approved of the change.