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Video-1: youtube.com/watch?v=dgn6v14sJXA

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To the flag of the United States of America and to the republic for which it stands. One nation under God, indivisible, with liberty and justice for all. Just hit share, right, Carl? Yep. I need to click. There you go.

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All right. So, um, we got the county board of appeal and and I can go as fast or slow as you gentleman would like. Um, I've got about a half hour of information, but if you ask questions, it'll go a lot longer than that. So, um,

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kind of this is the the information I'm going to be presenting on kind of the overview of the assessment, the value changes, um, all the all the sales in the county, all good residential sales, um, then go over the county sales trends for the 26 assessment, and then we'll

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look at the 27 good residential sales. We'll go over the vacant land sales and then we'll go over lakeshore sales and then do the egg overview and then go over the egg sales that have occurred within the county. So,

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any questions before I start? >> No, I took the training. No. >> Um, we do not have any appeals. Um the only individual who was eligible um was Tom Lumire out on Pelican Lake. Um he did call me on Friday and kind of chewed

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me for a little while. Um he was not coming to the meeting tonight, but he still wanted to let you guys know that he was still unhappy with his value, but he's unable to make it. His main issue is his lakeshore front footage um

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increased to 99 ft and that was due to a survey that he provided to the courts and the courts certified that he had 99 ft and he had also kind of sued between his neighbors to get that

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that lake short through adverse possession. So he was just angry that his value increased because we're now valuing 99 ft there. So, what did he start out with when he bought? >> Uh, 46 ft was being assessed to it.

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>> Okay. Um, there he didn't actually own Lakeshore, but through adverse possession or basically using the the land openly for the last 15 years, he was able to take the frontage from his neighbors. And so

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we just increased the value >> and the court sided with him and gave them that >> and the so he provided a survey and the courts verified and yes they gave him that that amount. Um >> where is that property >> on Big Island Road? It's kind of down

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that that trail that kind of veers off to the right into No Man's Land by Norman. >> Yeah. >> Um and then also within that same >> So it was Norman. Did you take it away from Norman? No. um Klesic

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Cleic. Yeah. Yep. Was the other one? Um and then they like within all of that they secured uh rightaway easement for all the people who lived along that pathway there too. So >> was it the case if you take it away to

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expect not to have the big hats on? Is that what he's coming? >> Basically, it sounds like it. Yeah, that's a good question. I mean, >> so his value went up. Cleix ended up going down a little bit because we took

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away front feet from him and gave it to >> Did did the Klesix uh might have been court? >> Yes. >> Okay. >> It it has been going on for about three years. >> So, it just finally finalized this last

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year. Was it all brush? >> Yeah. I mean, was it was >> it cattail front? >> Oh, because it kind of faces the Ashby Resort and that's the area. >> Um, so anyway, getting back to the

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assessment. Um, the first page here is it's kind of a listing that I put out on the market just to kind of show people what we're doing. And in reality, it's kind of a good overview of kind of what the assessment looks like. So assessors,

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we are expected to assess properties at 100% of market. So that means what they sell for is what we should have on them. Uh the the range that they give us is between 90 and 105%. We're outside of that range. We either need to raise

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values or we need to lower values. So what are Fraser? So this is Corey So. Uh he's our new staff appraiser. Um he's been out viewing with Matt and Vicki here this year. So he is starting off the year, basically starting the process

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off. So um so our sales period that we're looking at is from October 1st, 20 uh October 1st, 2024 through September 30th, 2025. So that's the time period of sales that we're looking at that created the 26 assessment.

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Um, so how we come up with the ratio is we take the assessed value divided by the sales price and that gives us a ratio and then what we do is we line those up from smallest to largest and the median sale or the middle sailed is the one that needs to be between that 90

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and 105% ratio. So that kind of people say, "Oh, do you automatically throw out the highs and throw out the lows?" um if they're two standard deviations away from the median, those are considered statistical outliers and those wouldn't be part of the sales set.

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So we don't necessarily always know now just throw out the eye and throw out the load. >> What would be a couple examples of these? What do you call it? >> The median. >> Yeah. >> Deviations. >> Standard deviations. >> Yeah. >> Do you want to get into statistics?

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>> No, I just want to know what that is. So, so it's like a a bellshaped curve here. So, this is what a standard deviation looks like. It's kind of a it's a bell-shaped curve. So when we our median

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is our middle sale and what we have from there is depending on your your source your deviation would be one deviation of the median and you go out on each side. So anything out here would be considered an

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extreme outlier and anything over on this side here would be considered an extreme outlier. So those are things that that I calculate to to verify. And then >> and what would be an at extreme?

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>> So if if if we had it valued at 100,000 >> Oh. >> and the property sold for 260,000. >> I got you. >> It's going to say that when we look at the rest of the assessment, you know, our our assessment range might be

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$20,000 between each standard deviation. So, we're going to say, well, anything in this jurisdiction is outside of $40,000, like that's a extreme ratio or extreme extreme sale. >> I got you. >> So, so that's kind of what that looks

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like. >> Or the other way of thumb >> or if Yeah, we had $100,000 and it sold for $12,000, it's going to say that's an extreme ratio or it's it's an extreme it's outside of two deviations. Good. I got you.

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So >> for this year >> for the Yep. So and we're also looking at like the coefficient of dispersion or the price related differential which those are units of measurement on how accurate the assessment is or whether we

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favor upper end properties or lowerend properties. So when typically like lakeshore sales sell and the the values are high then it says well you're you're favoring the upper end. So that's why we have to raise lakeshore properties or

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sometimes when it's the bottom end like you say well you're favoring like this the low value homes we have to then raise the low value homes to get that that statistical number as close to one as possible. it's either then they would

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be either a regressive or progressive tax. So again, we want it to be as centered as possible. So when I'm going through and looking at all of the sales and all of the jurisdictions, I go through and look at all of these

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different pieces when I'm either raising values, lowering values, and I'm deciding where to put the values at. So I do that with all 23 jurisdictions and then I have to do it countywide and

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I do it for every property type that's in there as well. So there's 20 different property types or property classifications between commercial, industrial, seasonal. Um there's four different types for egg properties. So

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every one of those properties I have to go through and verify that they're within the the acceptable range of the statement. So it gets kind of deep. So that's that's what I do on the backside. That's the the really

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uninteresting part that people go where where like >> you lose them I >> I lose people in the numbers on the back side. So, so that's why like I I try to break it down so that a lot of people can understand it. Um,

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but sometimes that was people. So, so then um with this I als with this listing here I also kind of run through and kind of explain property taxes a little bit to people and show them that the differences is basically where when

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we value and classify a property it is your little sliver of piece of the overall tax and great cover. Um, and this is how I explain it to a lot of people. Just because values increase doesn't necessarily mean your your taxes are going to increase. And that's the

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hard part to understand. >> Thank you for proving those wire. Thank you. Thank you, sir. I didn't know that. That's perfectly fine. >> And so this is one of those this sheet gear that I that I have up. Um we have

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that on our counter so we can help explain it to people and it's just a little easier. I think it's it's something good to read. So then the next page is the the mini abstract totals. So this

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is kind of tells you where the the value breakdowns. This showed me what's going on in every jurisdiction. Um some of the totals. So if we go to the one two3 page it would be these are the the township

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totals and it kind of tells you that overall the we saw the township values go down about 4.18% and that would be due to the egg land going down in value. So we reduced uh

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eggland about 7 and a half% this year. Um but rural residents has still went up in value. Lake Shore still went up in value. So those those other numbers that went up, they they changed that number a little bit. So I kind of also did a percentage of

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market. So for the the 26 assessment, a in the townships makes up about 83% of the value. Residential makes up about 10. Seasonal wreck is 4.6. Um so you can see that the egg is going

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down. So that's who's paying the tax. So egg is going down. Residential, seasonal, commercial, uh they're all going up a little bit. So that means that there's a little bit of a shift that's going to go to those other property types. And then the next page, these this is

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the cities. And you can kind of see what's going on there too is that the the the values or the the percentage of market in the cities only 9.3%

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of the market is a within all the cities. The cities their their main value in portion is is the residential. It's 72.4% of the market in the cities. So when you're talking egg in the cities, you're

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talking like off and way down concrete. Is that what you're talking? >> Yep. So there's a few parcels that still are egg within >> Yeah. >> I would say every one of the cities has a little bit of egg. >> They still have farm fields. They still have >> Coleman's got some right by the airport

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that's commercial. >> That's egg within the corporate limits. >> Yep. >> And even when we go west of town, there's a little bit of egg there that's in the city limits. So what you're saying is that 9.34% is the percentage of egg land value in

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the city >> of this the total of the cities. Yeah. >> So okay there's quite a little of it then in the cities >> there there is very little of it. Yep. >> There used to be more and then they took it to tax court, you know, J&J,

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>> Banford. >> Um, >> not necessarily tax court, but they took it to a redistricting court where they unanexed it from the cities, >> right? >> Yeah. But that dropped the taxes big time. whatever it is, 50, 60 bucks a night.

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>> And that's where some cities have egg districts which basically put the tax rate on the farmland similar to the the joint township. >> Yeah. Which makes sense to do to keep it in the corporate limits. >> Yep. >> Give a little bit of a break there. They

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should >> and sometimes it's better to keep it as their tax base than lose it. >> Right. So, but that's not my decision. >> Nope. >> So, then the next page is the the grand totals. Um, again, this kind of shows

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you that 86.4 or I'm sorry, 76.4% of the the total value in the county is a um residential 16.27, seasonal recre is 4.29,

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and commercial industrial went up to order. So again, you're going to see just a little bit of shift going on there. Um because again, I'm I showed what it was in 2025. It was I call it 78%. So that number is going down a little

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bit. And with eggland going down in value, that means there's there's going to be a little shift. And then you can see the the difference in new construction. Uh for 25 it was just shy of 16 million. And for the 26

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assessment, it was $11.7 million truck. One of those the things about that is with less new construction, um there's less property to help pick up increases and levies. Um because those that that new construction is is new

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property that's going to start paying property tax. Yeah, growth helps. >> Growth helps. Big. >> So then that way if there are any levy increases that new construction really helps stop that that that blow.

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>> Yep. Then we go to the any questions on any of that kind of big dollar item or just kind of township city overview. >> What's that MC on the last call? New construction. Well,

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just talk about that. I guess that So then going on uh the next listing is the all sales that happened within each jurisdiction. I did not since I broke it out in the the packet. I did each

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jurisdiction kind of a little bit different there in the bookmarks so you can click on them as you go through. Otherwise, um I did not break them out in each commissioner's district. I figured you guys all know where you're sort of. So

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again, this is the all sales includes everything. So that's the good sales, the bad sales, the relative sales, the closure sales, everything. Basically, it informs you of what's going on in all the jurisdictions. There should be about 20 pages there.

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Sorry. 23 villages and then it goes into good residential sales. Any questions on And with the all sales, we tend to go back and look at the foreclosure sales. We we do look at all sales, but

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sometimes they're just relative sales where they might go from mom and dad down to a child or a grand and child. Um, those ones we don't put a whole lot of stock into other than going back and maybe looking for new construction, but

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like a foreclosure sale, we we tend to put those on our new construction listings just because when people buy them, they're probably in a little bit of a dilapitated state. And so usually the new buyers will come in and either put new windows in or put a new rope on or they'll they'll fix them up a little

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bit uh because just being in that distressed state, they they tend to do something with them. And it might not necessarily be that first year, but it'll probably be that second year that they go and start looking at things.

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sort of then does that increase the value >> when they do improvements? Yes. Now, if they just go in and paint the siding, that that's not an improvement. That's that's just general maintenance. Um and if you replace one window in a house,

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we're going to say that's typically just, you know, that's normal maintenance. But if you're going to go in and change out your siding, you're going to put new windows in and you're going to put new gutters and then a new roof on, we're going to say that that that is new construction because you're

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you're extending the life of the home. So, Carl Leaf, like I'm looking at the egg sales and the home sales are all in the same vein, right? >> Yep. It's it's everything. get. So when I see this million dollar stuff, that's the egg probably. >> Most likely. Yeah.

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Could be lakes shore, too. >> Yeah. We had our first million dollar Lakeshore sale this year. So what lake? >> We're both uh right next to my and Jodell's old house.

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>> Oh, yeah. Right. So is that that double lock that you go down Wildwood and it's to your right that uh it's got wood siding and >> west side of the >> Yeah. Yep.

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>> We come in big island, right? >> Wildwood to what? Uh >> off the prairiewood. It's prairiewood and then Wildwood. He's at the end there. and then we get into the the good

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residential sales. In order to constitute a market, we need at least six sales in a jurisdiction. Um, if we don't have six sales, then what we do is we go back and look at what's called a five-year sales study. And in that fiveyear sales study, what

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the state does is they go back and look and see over time, how is how have you done with the assessment? Are you, you know, in the first year you're 95%, the next year you're 93%, the next year you're 89, and the next year 87. They're going to say, "What are you doing to

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raise the values in that jurisdiction to get it within compliance?" And the same is true as if you're going 95 and then you go 99 and you go 104 and then you're 110. They're going to say there's obviously a trend that you're starting to overvalue properties. What are you

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doing to reduce those values? So that's where the the five years comes in as well. So other things that we look at within these, we kind of like for depreciation on houses, we we run through the sales

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on all the sales and we try to group them and look at, you know, all the houses that were built in from 1970 to 1988. What are our ratios on those outlets? We do that for the depreciation. We look at the grades.

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look at the conditions. We look at uh rural versus uh city properties. We we break these all apart and I analyze it in 15 different ways to the moon. And

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okay, I have a question. This this lot that was John Deere head Midwest Machinery. Y >> it looks like they're egg power real estate. >> Yep. >> And they they sold it to the the lake economic battle authority for 75 grand. Does that stay on the tax rules

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>> to the EDA? If the EDA does not apply for exemption, yes, it stays on the tax rules. They probably know that. So, yes, and they know that. Um, exemption is the exception, not the rule.

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So just because somebody is an exempt organization, depending on how they're going to use it will depend on whether it's exempt or not. So like the EDA can file for exemption for for the lot. >> If they keep it long enough, they're probably going to do that.

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>> If they keep Yes. Um and not every year they don't automatically just apply. Like we see some churches don't automatically apply. they'll apply in a couple of years because they don't exactly know what they're going to do with it. Or if they bought a house for a parsonage, but they it was for down the

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road. If a non pastor is living in that house, then it goes on tax rates. >> That's what's going to happen >> because it's non it's a it's a non-exempt use, >> right? It's not being occupied, right? You know,

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>> so just because it's not occupied doesn't mean that it's not necessarily exempt. So it it can if it's if you're in between pastors, yes, it could still like if you're actively trying to fill a pastor position, it can still be exempt. >> It'll qualify.

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>> It'll still qualify. Or if the church is going to go in there and use it for Sunday school or they're going to use it for other some other exempt purpose, it can continue on the exemption. But if they're gonna if a church takes it and rents it to me and I'm gonna go

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live in that that it's no longer tax to be pulled. Carl, I'm looking at some mag sales and bond. Anyway, the the one there is sold

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for 18,000 or 1,824,000, but then it says per property amount 500,000. What does that mean? >> Uh personal property amount. Is that what that is? >> Yes. So, so is that 1,800,000 plus 500,000

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for the personal property? >> So, personal property is taken off of the purchase price. So typically personal property would be like for Lakeshore properties it would be the dock. It would be if it comes

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fully furnished it'd be the couch, the um the window coverings, the depends on what's there. Um things that aren't personal property would be like utility sheds. Those are taxable because

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they provide a shelter function even if they're on skids. Um, that's usually what we try to see see people put on there. Um, other things that are personal property would be like washer, dryer, bridge, stove, those types of things. >> I'm going to screen for you on a running

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gear, but hey, rack. >> Technically, it's taxable because it's not licensed. It would be kind of like an RV. And if an RV doesn't have the current tab on it, then it is taxable. So, you couldn't put a slow moving vehicle sign on the back and it would qualify.

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>> If it's there January 2nd, it it can be valid, >> right? >> You say that first was 500,000. >> Yeah. >> 500,000 to the washer and dryers. >> Well, I bet you that's for the farmers. >> They're really nice.

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>> So, like if if a farm sells like if there's a grain dryer on there, grain dryers are not taxable. >> That would be part of that. >> That would be part of that. or like uh the elevator legs are not taxable only the bins and the things that can store. >> Great. >> Yeah. I wasn't thinking the farm piece.

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I was thinking a residential house. >> No. And like commercial is the other place that we see a lot of the high personal property because typically they're buying all the stock that's in that building as well. So if it's a grocery store, it's all the bread, all

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the chips, all the every everything that's in there. Um, and sometimes they'll even include goodwill or blue sky in as personal property. And that's really hard to determine what the the blue skies actually were worth.

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is sometimes somebody might pay $100,000 for a telephone number that's in place versus the next person will say, "Nope, we're going to we're not worried about that. Our customers will find somebody else. They'll find our new

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number." So, that happens, too. Any questions on any of the other good residential sales? So then we have the page that's the market sales trends and it's also up on the screen. So this is something that I started back when I

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started in Grant County because at that point in time we had 46 forclosures. We had it was 47% of the the market was forclosure sales. We almost were at the point where we started valuing

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properties at the foreclosure value and not necessarily the arms length sales. But you can fast forward today and see that the number of forclosures are down. We only had two. We had 76 good

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residential sales. um which is right in line with kind of where we've been the last couple of years. So this, you know, I've had people say, "Well, Carl, the the market is falling. The market is falling." And you're saying it's it's not falling. It's it's stable. Um and

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our our median ratio was 96.13. So our ratio countywide this year was was good. So we had to do we didn't have to do a lot of value changes this year. We we kind of let some cities just kind of

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take some depreciation. We had to do some increases in our townships in our rural properties because again, we're we still can't keep up with the rural properties right now. Like all of a sudden, I've looked at the last group of sales and they're they're up a lot. So,

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>> what's that change in Herman? How does that affect? So, um I'll go over that right after I'm done kind of going over this. Um so then the the average sales price

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uh was 237500. Um and again I don't I don't typically like using the average because skewed by high and low value properties. Um the more Lakeshore properties we have that the more it's skewed by the average or

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the average is skewed because those million one $1.5 million house will have more impact on the average than 10 $100,000 houses. The median sales price again you can see

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that even that's going up from 180 to 185. So we're still seeing a little bit of an increase in the median. And then when we look at onwater versus offwater um offwater properties, we're still seeing that little bit of an increase,

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but the big increase is onwater properties. So, uh we we did end up having uh is it a 6% increase for those properties on Pelican Lake and

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we did the same on Palm Deter Lake as well. And then that graph on the bottom just kind of shows you what the the values are doing. >> You have a number I did 26. Is that the number of sales?

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>> Yes, that's the number of sales. So there were 62 properties on water. Yep. And 14 on water. And you had brought up Herman. Uh so Herman last year saw a 35% increase in bed. So that was they got caught by kind

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of the perfect storm last year. So they had they were the median sale in the county. There was a 16% time trend last year and their ratios were low. So and they got caught by the five-year sales set.

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Um, last year I I tried to talk the state into only giving them a 15% increase. That that didn't that went flat. That basically they said no like your ratios this is this is what they are. So we ended up having that increase.

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This year we had I believe five sales in Herman. Um and we were able to do a 30% reduction because our ratios were very high in Herman. So we were able to to reduce those values. The other thing that we did is we revalued all of the

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land in Herman City last year. So what I did is when we did the increase last year, it kind of pointed out all the deficiencies that the old style of valuing land was really bad to. So, if

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you had a 100, well, I'll just say a 50 foot wide lot and it only had, you know, 50 feet of depth to it, it would I'm just going to throw a number out there. Say it was $10,000. But the lot right next to it was also a

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50ft lot, but it was 250 ft. The old system would have valued them exactly the same because it was front feet. Now our new valuation method in permanent and we're going to put this to all the cities that are out there is now it's going to look at the the square footage

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of every lot to make sure that one you'd have enough front feet and then what the depth is and so it'll kind of it's looking at the area of a lot has more impact than just strictly the front feet.

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And that seemed to as we corrected those and I ran them through our system again, it appeared to make the assessment better, not worse. So >> I would guess that really plays a role on corner lots. >> It it had an impact on corner lots. And

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the other thing is is I can't prove corner lots are a little more valuable, but they're not statistically important enough that it's going to raise the value. They are important but it's not the most

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important thing. So let's go back and I'm not saying what happened in Herman is nothing wrong with it but if it is based on analytics and if it is a perfect storm why is there a storm for make sure you change it to that amount

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it >> analytics it because the the with that year being in there it got caught with the fiveyear sales study we got caught with it being the median sale. So the only thing that we could if

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we didn't raise the value, it didn't matter. I could have raised every other jurisdiction 50% and it still wasn't it wasn't bumping the median for the count. Okay. >> The only thing I do is get that Herman

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was raise Herman. That was the only way I got the entire county to be like >> within compliance. >> The whole county. >> The whole county. >> Oh. So, I'm I'm looking at jurisdiction and I'm looking at county. I'm looking

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at a lot of different items that go into >> Okay. >> on these lots. So, like down in Herman, were they served with water and sword? Does that play a role too? >> It's assumed that if they're part of the city that yes, they would be >> that they're served by water and sword

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regardless if they got services or not. >> Okay. Yep. And again, we'll go basically we'll use that as a guide. It doesn't it's it's the general rule. It doesn't mean it's the only rule. It means that there are lots with exceptions that if they

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they say it's too expensive to go under the road and under the railroad. >> We can't run city water to sewer this property. >> No. That would be one of those things that that would be an exception to the rule and we would we would come up with we'd look at a different value for those

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properties. So they're they're general guidelines. They're not like gospel. So that's where we would look at those a little bit different. And even in Herman that happened we we had to say some lots well there's this this and

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this that are all having an impact on the value. we need to make an adjustment here, even though it doesn't follow perfectly our our new guide. And the thing about the old methodology that just strictly looked at front foot value, it didn't look at any of the

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other factors. And again, when when land values are $1,200 to $3,000, a little bit of budge factor didn't matter a whole lot. But then when we started raising the values on land because of the sales and things that are

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happening in Nordrass and like around the whole area, we had to rate bring the land value up too. So in doing that, it showed all the deficiencies in the system. >> It caught up with what it did. >> Yep. Yep. So again, we're going to we're

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going to go through the same methodology of all the cities. This is not a it takes a while to get through them. So it's not just a slammed up >> an overnight thing either, right? >> So then moving on, um we got the the good residential sales.

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These are the 2027. So these are from October 1st, 2025 through current. And again, I just did the the good residential sales. It kind of gives you an indicator of of the direction things are going. Um, if Ashby continues,

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they're going to need a slight increase. Barrett, they're they're going to need to see a little bit of an increase. Elbow Lake will probably see a little bit of a decrease. Um, do you have a question? Well, I just

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wonder on that sale. >> Well, that would be a big call. So, kind of what we're seeing is that overall the cities are are starting to kind of flatten out a little bit. And what we're seeing is in the

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townships, our ratios are starting fall a little bit. So, it looks like we're going to need to start raising our township values a little bit more again. So, You're wrong. I really vote.

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Is there really more than a vote? >> It's a long point. That's immediate. >> Any questions on any of the 2027 good residential sales? So then there's a page that's blank. It should be right after

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it's So the next listing is the the vacant land sales under 34 and a half acres because everything that's over 34 and a half acres goes into the egg study. But there's that kind of space between there

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that doesn't really hit a whole lot of classifications by the state. So that's why just showing you that these would be some city lots. These would be some township out or like out on the golf course, those back lots that would

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include all of these. What's >> that? Yep. So, it kind of tells us that overall like we're we're in the ballpark on our our vacant land. Um, and most of these that would be under 34 and a half acres,

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they would be your properties that are like these are going to kind of be your next development areas. Um, typically these are the people who are buying three, five acres, you know, two and a half acres. They're they're going to build a house on. So,

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So when they subdivide property and things like that, you know, they got to come and you got to figure out, you know, land use and what it's supposed to do and all that stuff, right? >> Y and where it's headed. You know, I'm just figured like the old property that was bought out here. You know,

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>> you know what their plans are for that >> and they're going to be split into they so environmental services has a rule that you can only split a property so many times before it needs to be platted. And so what's happening now is that we're starting to get some properties that are getting close to

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that four splits that the next step is they're going to have to plat in order to do anything. A lot of these rules are already in your your other rules that county board has already covered. >> Yep.

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>> So the next page is the 2026 Pelican Lake sales and basically there's an another couple pages after that. So here's a Thompson Lake sale, lower elk sale,

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lake shore sale, and light. And even for the 27, we're noticing that the lakes shore sales are definitely picking up. So, what we've seen from October 1 versus current, we're we're seeing that they're their

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marketing times are actually going up a little bit right now, but it looks like when we look on the MLS, people started high and they're starting to drop values a little bit, but they're still substantially more than what they thought. You know, I live in a price range of,

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you know, they're they're from 30 to 50% more than they were 15 years ago at least >> than they are 5 years ago. >> Well, okay. Well, whatever. You know, I don't I don't watch the goals for >> I just did two sales out on Barrett Lake

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and we've got 80,000 on them and two lots sold for 125,000. Chase. So, I mean, we're we're still looking at Barrett Lake where the sales are just still going up, >> but there's not many places that you can

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buy a lake bot for 125,000. I mean, you can't be in Douglas County on a lake lot for 125,000. >> You can't see a lake. >> You can't see a lake for for that. So, what's happening is people from those other markets, they go, "Holy buckets,

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this $125,000 lot. Like, buy that up quick. And so we're still seeing even bear lots are are going up in value. >> Coming from the metro. They really >> some of them are local buyers. >> Are they? >> Yep. >> Okay. Some of them are local.

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>> So then uh the next group of sales is the 2027 uh Pelican sales 27. Turtle Lake had a sale. The Turtle Lake one. It's a bear lot. Where's Turtle Lake? >> Uh Turtle Lake is between Bar and Elbow

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here. West El West of Elk Lake in there. >> Yep. >> You know where that lake is on the other side of the railroad tracks from going to Hoffman. >> Yep. >> That's it. >> Yep. Those lots are side. >> Yep. Development.

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>> Yeah. There's a development back in there and they're nice size lots. They're they're big lots which allows people to build their house and shed and all their toys in here. So, um, Barrett Lake, uh, this one is a city

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sale, but again, those other two buildings are they're just vacant lots, so they're not going to be on there. Then PET, you can see where the old meet for the 26th, we were looking at um,

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you know, 100 and but right after the the sales period started, we had two sales and our median ratio was 77. So, I was like, I'm not going to go drop the value on Pontier Lake only to turn around and give them, you know, I don't

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I don't I don't like the yo-yo effect if I can help her. >> You want to go down 10%, just throw up 12 to go up 20% the next year. Yeah. No, that's not >> Nobody remember that going down. >> Nobody remembers it going down.

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So, those are the group of sales there. And again, Lightning Lake, we're basically all the lakes. It looks like we're we need to go up. So, for the other cities, basically for the assessment, uh, countywide, we we went up about 3%. Pelican Lake was the

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the other one that we went up about 6% in Pelican Lake Township. Um, everywhere else in the the rural jurisdictions or the jurisdictions with low sales volume, they all went up about 3%. Ashby, they got to see basically their their

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depreciation occurred. Um, Barrett City saw the 3% on and off water. Double Lake flat or their depreciation kind of go in the market. Hoffman saw a 3% increase. Herman saw a 30% decrease. Norcross and

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Wendle were both flat. And then the next page is the farmland 2026 assessment. So this is uh kind of a breakdown of the the farmland. So we reduce our tillable land uh just about 7

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and a half%. We did increase our non-crop acres, our waste, our pasture, our woods. Um they all went up $200 an acre. Um, and already looking forward to the

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27 assessment, we're probably going to have to increase those even more because our non-tillable acres. Our assessment is very low on that. On our CRP ground, we're going to have to raise CRP. We're going to have to raise

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um woods, pasture, waste. They're all going to have to go up again. Just looking at the next group of sales. So for the 26, again I include the average because people like to hear about the average, but the average sales price per acre was just under 7,000 an acre, but

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the average sales price for tillable acre was just under 9,200 per acre. When we go back and look at the median, the median sales price per acre was 7,200 and the median sales price for tillable acre was just under 7,700 per

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acre. And then when we look at the 27th preliminary on nine sales, the average sales price per acre is at uh 5750, but the sales price per tillable acre is

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7260. And people say, well, what's happening here? Well, we're having a lot of those sales that are non egg sales. There's I believe six of these nine sales are all CRP rim

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um other type sales. So it looks like oh no the the till's completely falling away and I'm saying hold on here. It's not it's not as bad as what you think it is. These other property types are dominating our sales listings right now. M.

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>> So, and we're going to have another sale out kind of out by Chad with Johnson. That's all CRP grown. That's all like >> not all of it. Not all of it, but a number of the parcels are >> behind the campground or that both sides

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of the road. >> 800 acres. So, and when we push a lot of acres into the market at one time, it can kind of push the market down a little bit. So,

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>> and they're selling at seven partials or seven different people auction bill. Yeah. Um, and then the median sales price. When we're looking at the sales price per tillable acre, again, those CRP,

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they they bring that that stuff down. But when we look at our median sales price per tillable acre, and this is everything that had 75% or greater tillable, our median is, you know, 7,500. So, it's

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right in the ballpark. But I definitely see that that part of the market is is softening. When we have few sales volume, it tells me that it's not a there's not a lot of things transpiring right now.

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Then the ne any questions on that before I move on. The next page is the egg land listings. Um, so there should be three pages there. And again, these are from October 1st, 2024

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through September 30th, 2025. This land that got bought up here on 21, you know, was visible company bought it. >> Yep. Do do you guys measure the value other than just egg land of the gravel

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>> being those pits or in proximity? >> So typically like mineral interests are valued up on the iron range. >> Um okay just the potential to have a gravel site or a gravel pit.

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We don't have enough sales to indicate that we should be starting to value potential gravel pits within the county. >> Okay. >> Um, typically when these properties have sold in the past, we've been pretty close on the assessment.

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>> Well, they're Minath Investment LLC. You know, they're not farmers. >> No. >> So, you know what they're after, >> right? Um, and again, if they would have opened a gravel pit in the same year that they they

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purchased this or if they had done it before January 2nd of 2026 here, we would have been we would have been able to kick that sale out for classification change because then it would have been commercial, >> right? But since it continued to be

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farmed, it'll >> they know that >> they it'll continue to be egg homestead. So, it does go into the egg study. >> Um that's there's really not a whole lot I can do just because I know that they're going to put it into a gravel pit. I

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can't say that might not be >> your tenture here. You know what I mean? >> Might be 15, 20 years from now. It it might be right. We might be still here. We won't be put

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again. It's all future future planning. So then the last two pages are a listing of the egg sales that have occurred from October 1st through current or from last Thursday when I printed this off.

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And that is all the information that I have for you guys. Unless you have further questions. And if you go back and you you look at this information now and you have questions, don't hesitate to reach out to me or my staff and we'll see if we can get you other sales

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information. Has anybody been in tal about this battery building at all with you? >> I've just had one individual talk to me about it, but that was that was a while ago and I haven't had

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any conversation about it. And I've done a number of tax estimates for some people who are looking at developing some different lots. And so I look forward to those if they ever

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fruition, but right now I don't I don't know what that market looks like. So I don't think anybody does any market for that. Okay, a lot of uncertainty in the country.

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Um, and I did get an email today too from the state board of uh equalization stating that we did not have any state board changes to the estimated market values of the county. So, so we don't have any any wild and

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graz. So that's a good sign. That's good. Y the biggest bad boy you're going to get all year right there. >> Boy, so amongst other counties, is that

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fairly rare to have what you just said? I would say well I've only had I inherited one state board of uh state board equalization change. So the first year I started I got one um one other

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year we got stuck with a five-year but I circumvented that change by agreeing to do a full reassessment of Hoffman and that seemed to fix everything. So then that way we didn't have to do any

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sort of increase outside of the regular valuation. Um I would is it the normal? No. Like most most counties they'll have one or two things that they have to go through and change.

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Um but actually this was the first year in our assessor region that nobody had. So that was that was the first. Anybody have any other questions? Everybody good? All right. I'll adjourn

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the meeting then at 5:27. Thank