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REO Plastics owner disputes 2025 valuation after 30% jump
Summary
The REO Plastics representative told Maple Grove’s Board of Appeal that the property’s assessed value rose from $8.6 million in 2024 to $11.2 million for 2025, calling the increase disproportionate; an independent appraiser hired by the company recommended $10.3 million. The Board will review the petition when it reconvenes May 6, 2025.
Dan Dahman of REO Plastics told the Maple Grove Board of Appeal and Equalization on April 22 that the company’s property assessment had risen sharply, from $8.6 million in 2024 to $11.2 million in 2025. He said the 2025 figure represented about a 30% increase and that the parcel’s value was up roughly 84% since 2022, which he described as disproportionate given the company’s competitive operating environment.
The company’s retained appraiser, Chris Stockness, testified he inspected the property in March, described it as in "average condition," and said the building totals about 170,000 square feet with less than 5% devoted to office space. After that inspection, Stockness said he believed the fair market value of the property as of January 2025 should be $10.3 million.
The assessor’s materials included a Hennepin County video explaining how market values and property tax classifications are set and an overview of how the Local Board of Appeal and Equalization handles petitions. The board’s staff also reviewed market-condition adjustments applied to Maple Grove residential and commercial properties and reminded petitioners that the Local Board will reconvene on May 6, 2025 at 7:00 p.m. Petitioners will be notified by mail of the Board’s decision; those still dissatisfied may appeal to the Hennepin County Board of Appeal and Equalization set for June 16, 2025.
The Board did not take a final valuation at the April 22 meeting. Instead, staff indicated it will conduct a property review and present written recommendations to the Board at the May 6 reconvening. The company’s petition therefore remains under consideration pending the Board’s review of the assessor’s written findings and any additional evidence presented at the next session.
Next steps: the Local Board is scheduled to reconvene May 6, 2025 at 7:00 p.m.; petitioners will be notified by mail of decisions and may appeal further at Hennepin County’s June 16, 2025 hearing.
