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Commissioners grant abatement, drop 2024 assessed value on Velkov property to $308,100
Summary
After a review by the City of Fargo assessor, the board voted to reduce the 2024 assessed value of the property owned by Peter Velkov to $308,100, citing deferred maintenance and a difference in garage size from comparable sales.
The Cass County Board of Commissioners approved an abatement application and reduced the 2024 assessed value of the subject property to $308,100 following a presentation by Mike Sponskovsky of the City of Fargo assessor's office.
Sponskovsky told commissioners his office inspected the property and found "a significant amount of deferred maintenance" and noted the subject property was assessed at about $167 per square foot, higher than comparable properties reviewed. He said comparable sales in the review almost all featured two‑stall garages, while the subject property has a single‑stall garage. Based on those findings, the assessor recommended reducing the 2024 valuation to $308,100.
Commissioner Capitan moved to accept the assessor's recommendation to reduce the value to $308,100 for tax year 2024. The motion was moved and seconded and carried on roll call; the clerk recorded aye votes and the motion passed. No owner representation appeared at the hearing and no additional conditions were attached to the abatement.
The assessor and commissioners did not provide an estimate of the revenue impact on county tax collections during the meeting.
