Market value increase on Lafayette apartements discussed

by Doug Hanson
Two Lafayette properties should see a reduction in market value after the appeal’s process. The Lafayette City Council held its annual Local Board of Appeals & Equalization Public Hearing on April 14th. Thomas Stang of Pura Properties, that owns the Lafayette Manor apartments, attended asking for an explanation and help. According to Stang, the market value on the apartment property increased 42 percent.
Andy Brown from the Nicollet County Assessor’s Office stated that Nicollet County was trying to equalize the market value on apartments throughout the county. The Manor was way below the value of similar apartments in Courtland. Brown also stated that the value of the apartment did not reflect the actual value of the past two sales.

For the complete story, check out the April 23 issue of the Winthrop News.