At the April 12 Mound City Council Meeting, Philip E. Jensen, senior appraiser with the Hennepin County Assessor Department, presented the 2005 assessment report for Mound.

Jensen reported the average assessment growth on all off-lake properties was 7.6 percent, while lakeshore properties increased 15.4 percent.

The Hennepin County Assessor Department analyzed all properties that sold from Oct. 1, 2003, to Sept. 30, 2004, to determine the growth. Jensen said this year was unusual due to the increase in home sales.

"We normally have about 21-23 lakeshore property sales. This year we have 46. We normally have about 125 sales of single family residences. This year, we have more than 180 sales," he said.

Jensen said the assessment growth numbers they came up with are standard. "Lakeshore property has always been higher than others, and it simply comes from demand. It's interesting to note that, over the years, there's a constant pressure on real estate to be worth more each year, and that's created by the buyer and seller," he said. "We are simply trying to determine the average."

Minnesota state statute requires assessors to view and revalue properties once every five years. According to Jensen's report, "each year, one fifth of the properties in the city are normally reviewed and the records are updated."

The report also noted the estimated market value median price of a home in Mound is $217,000, up from $199,000 in 2004.

A sampling of the 2005 median prices of single family houses in other cities surrounding Lake Minnetonka is as follows: Long Lake, $234,000; Minnetonka, $295,550; Spring Park, $357,000; Wayzata, $395,000; Deephaven, $436,000; Minnetrista, $450,000; Tonka Bay, $532,000; Orono, $606,500; and Minnetonka Beach, $844,000.

"We're the poorest city on the lake, but we're not that poor!" said Mound City Manager Kandis Hanson.

Residents are invited to meet one-on-one with an assessor to ask questions about the valuation or classification of their properties at a meeting from 4-6 p.m. Wednesday, May 4, in the Mound City Council Chambers.

In addition, Hennepin County keeps a year-round office in Mound City Hall. Residents may call and make an appointment to see their records.