Storm Lake resident Wyatt Yon has stopped the value of his property from rising for two straight years thanks to a year-long legal battle and two appeals to the county board of review.
Council papers released Monday show Yon’s two properties in the 1500 block of Shoreway Road will receive a combined assessment of $605,000 for 2021, an amount Yon and council agreed to in a settlement filed in the US District Court. Buena Vista County on May 19.
Yon’s attorney, Ryan Mohr of Storm Lake, did not respond to a request for comment on Friday. Assessor Kathy Croker noted that the settlement covered the 2020 tax year, but the council decided to keep its assessment the same for the 2021 year, anyway.
“Board and (Yon) are happy with the amount of the settlement,” Croker said last week.
The Buena Vista County Assessor’s Office appraised Yon’s properties at $645,000 in 2020 and $707,000 the following year. He sued the Review Board in July 2020, claiming at the time that his properties were “overvalued compared to other similar properties and that my taxes should be reduced accordingly by court order”.
District Court Judge Charles Borth signed the settlement the day after the parties reached the agreement, according to court filings.
Yon’s settlement with the council marks a 6.5% reduction from his original 2020 valuation and a 17% reduction from his 2021 valuation. Council Counsel, Dickinson’s Theodore Craig, Mackaman Tyler & Hagen of Des Moines, declined to comment on how the board reached settlement with Yon and Mohr.
Yon’s properties he has challenged twice in council and once in district court are a half-acre lot in the 1500 block of Shoreway Road and his 2,200 square foot home at 1514 Shoreway Rd. Just after the lawsuit was filed last July, Mohr and Yon claimed that low interest rates should have prevented a 7.5% increase in the value of the home.
“The valuation of the house in question went from $395,000 to $425,000,” Yon said at the time. “It’s the same house.”
Mohr noted that the value of the half-acre plot was 27% higher than an adjacent plot sold two years ago.
Mohr told The Times last July that a section of undeveloped land adjacent to one of Yon’s properties was rated 27% lower than Yon’s. As for the other property challenged by Yon — his house on Shoreway Road — he claims that the appraiser’s 7.5% assessment increase is not justified because he made no improvements to it. during the assessment year.
Yet Yon properties are at the epicenter of rising residential valuations: Residential valuations have risen 12% countywide over the past two years and even more severely among lakefront properties like yon. Its ratings were expected to increase by 11.8% per year. Residential appraisals are driven by a combination of local sales, new construction and changes to individual plots.
Of the 17 petitions considered by the board, the board adjusted the assessments of five of them.
Feed Rite Animal Feeds at 5890 70th Avenue, from $802,860 to $419,100, was down 48% from initial valuation. Croker said the adjustment to the Alta property was made because the mill is considered vacant.
McMajor Enterprises, which presented two petitions to council, received a 27% decrease in a residential property at 416 Otsego St. The company’s final assessment for its home at 416 Otsego St. will be $71,050.
Alta’s Jeff Stewart received an adjustment of 8%. His property in rural Alta will be valued at $239,630.
Storm Lake’s Michael Olthoff received a 9% adjustment. His property in rural Storm Lake will be valued at $320,560.
A list of other properties that have appealed and their current assessments that have been denied by the Buena Vista County Review Board.
- Brent and Carol Ehlers, 5676 175th Ave, Storm Lake, $227,490
- Austin Ehlers, 5615 175th Ave, Storm Lake, $88,890
- Madison Barnwell Partnership, 111 Salebarn Road, Storm Lake, $2.1 million
- Walmart Real Estate Business Trust, 1831 Lake Ave., Storm Lake, $9.5 million
- Fridley Theaters, 712 Lake Ave., Storm Lake, $148,680
- Alta Properties DBA Wel-Life Assisted Living, 705 W. 7th St., Alta, $2.65 million
- Juan Ocegueda, 117 Division Street, Alberta, $63,920
- Juan Ocegueda, 219 Oneida St., Storm Lake, $84,020
- Andrew Mohror, 101 E. High St., Linn Grove, $13,670
- Andrew Mohror, 417 Weaver St., Linn Grove, $7,650
- McMajor Enterprises, 405 Lakeshore Drive, Lakeside, $108,410