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Minnetonka local board sets disputed Lynn Terrace parcel at $50,000 after homeowners protest
Summary
At a reconvened Local Board of Appeal and Equalization meeting April 21, the board voted to accept the assessor’s recommended $50,000 valuation for a landlocked parcel at 15001 Lynn Terrace after owners argued the lot had been mischaracterized and paid taxes as buildable.
The Minnetonka Local Board of Appeal and Equalization on April 21 voted unanimously to adopt an assessor-recommended value of $50,000 for a contested parcel at 15001 Lynn Terrace, a change the property owners said will not undo taxes they paid when the lot had been treated as buildable.
That decision came after homeowners Mary Lillibridge and Amy Ruzick told the board the parcel, which they purchased in 2021, was represented to them as buildable and that title paperwork and a prior buyer conversation suggested development potential. “We bought the property in 2021,” Lillibridge said. “The title company insured over the encumbrances,” and the owners said the parcel also has flooding and access issues that affect usability.
Assessing staff told the board they had changed the parcel’s classification to nonbuildable after a 2024 questionnaire and a planning review;…
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