The City of Wadena held their annual Board of Review meeting Thursday, April 22.
While acting on recommendations from the Wadena County Assessor's Office took about 5 minutes, conversations on the speed of home sales and increasing property values brought the most conversation in the short public meeting.
The assessor’s office heard of a recent sale of 6 acres of forested land on the Crow Wing River going for $130,000, with no developments. That was just a small look into how purchases are changing in this rural area.
Wadena City Councilman Mark Lunde has been keeping his eye out at properties and said homes for the middle class are almost non-existent in the area. He heard of four properties recently that didn’t even make it to the MLS (Multiple Listing Service) before they were sold. While home values have skyrocketed, just finding a home seems to be the greater hurdle.
Wadena Mayor George Deiss agreed that he’s seen houses move very quickly and shared that when he moved to town in 1998, the housing supply in the $100,000 range was also very hard to come by.
“It’s a great problem to have,” Lunde said of homes selling fast. But he added that the city must continue to pursue opportunities to increase housing in Wadena. City Administrator Janette Bower said that plans are in the works for another home to be built on one of the 10 lots bought by Midwest Minnesota Community Development Corporation (MMCDC). The first was set to be completed this spring.
The homes are being constructed in the Folkestad East Addition. After the city reduced the properties’ assessments and purchased 16 tax-forfeited lots, MMCDC, of Detroit Lakes, purchased 10 of these lots. They plan to follow the build-and-sell model for each lot.
A quick check on Zillow.com for the Wadena area shows 16 agency listings in the area, with homes ranging from $45,000 for a one-bedroom house to $699,000 for a six-bedroom house.
Concerning the actual business portion of the meeting, the council took the following actions:
- Reduced parcel 22.440.0420 by $15,200.
- Reduced parcel 22.300.0570 by $13,100.
- Affirmed Wadena County’s recommendation to assess property 22.791.0160 at $277,800. One reasoning was this assessment was in line with other properties in the area.
If you're concerned about the accuracy of your property assessment, there is a process to follow to attempt to have your case heard.
If you believe the value or classification of your property is incorrect, please contact the Wadena County Assessor's Office at 218-631-7628 to discuss your concerns. Following local board of review meetings, the Wadena County Board of Appeal and Equalization will be held the third Monday in June.