Local Home Values In-Line with County

By Katie Friedman, Correspondant

At their most recent meeting, Tuesday, March 20, members of the Maple Lake City Council received an update by Wright County Assessor Ken Yager on housing sales and prices in the local area.

Yager told the council that 82 permits had been issued in 2017, in addition to eight callbacks from 2016, for a total of 90. By comparison, 85 permits were also issued in 2016, along with seven callbacks from 2015, for a total of 89. Twelve new homes were assessed last year, and 19 callbacks for unfinished properties remain to be assessed for 2019. In the previous year, six new homes were assessed and eight callbacks had been slated for 2018.

Among 31 sales that did not involve foreclosures or transactions between family members, the median selling price of a Maple Lake home in 2017 was $163,000. The ratio of assessor’s value to actual selling price was 92.7 percent, which Yager explained to mean the values he’d assigned were slightly on the low side. A year ago, 29 sales were included in a study that indicated a median selling price of $154,000, with a ratio of 94.73 percent.

Yager said that Maple Lake’s numbers fell into line with the county’s overall, as values in eastern municipalities rose more than those in the western regions. He also noted that in the city and surrounding areas, the market is being driven by the fact that homes priced below $200,000 are nearly nonexistent.

He said property tax statements should be mailed out in the coming week and invited any local resident of the belief a property value has been set too high to give him a call, saying he is happy to take a second look. He also encouraged owners of older, unimproved homes to schedule interior inspections, as adjustments could perhaps be made toward a more accurate reflection of value.

The 2018 Open Book Meeting for Local Board of Appeal will take place April 5, from 3-6 p.m. at the Wright County Government Center. The city has opted for this open book format rather than holding a local board of review. This option gives homeowners more time to appeal their value. Residents are invited to call 763-682-7367 to schedule a personal meeting.

Mayor Lynn Kissock said Yager’s information bolsters that of a recent housing study conducted by the city, accentuating a need for more housing and eventually for more buildable lots, to support ongoing growth.

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