Bernard and Rebecca Rocca.pdf
Bernard T Rocca, Rebecca Rocca, Petitioners Vs. Township Of Leelanau, Respondent · 25-003150-TT
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Page 1
FECEIVED AUG 0 6 2025 STATE OF MICHIGAN MICHIGA DEPARTMENT OF LICENSING & REGULATORY AFFAIRS TAX TRIBUNAL MICHIGAN ADMINISTRATIVE HEARING SYSTEM MICHIGAN TAX TRIBUNAL BERNARD T. ROCCA, IV and REBECCA ROCCA, 7-1 08/04/25 ).00 Petitioners, Nt Erisiirs gi i 4 TEN FOFOVITS AND UMULIS MTT Docket No. LEELANAU TOWNSHIP, Respondent. Michelle L. Schubert (P86331) Pezzetti, Vermetten, Popovits & Umulis, P.C. Attorneys for Petitioner 600 E. Front St., Ste. 102 Traverse City, MI 49686 231-929-3450 mschubert@mich-legal.com PROPERTY TAX PETITION Petitioners, Bernard T. Rocca, IV and Rebecca Rocca, through their attorneys, Pezzetti, Vermetten, Popovits & Umulis, P.C., petition this Tribunal as follows: 1. Petitioners are husband and wife and reside at 1414 Forest Ave., Evanston, Illinois 60201. 2; The property that is the subject of this Petition is located in Leelanau Township, County of Leelanau. 3. The property at issue is an undeveloped parcel of land, with the common address of E Seth
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10. 11. 12. 13. 14, Parcel 1 is one of four parcels that were created by a split of a larger parcel. See Exhibit B — Certificate of Survey. This appeal involves Petitioner’s claim that the assessed and taxable values of the Property were incorrectly determined by the local assessing unit, Leelanau Township. The tax years at issue are the current year (2025) and later years. On or about March 11, 2025, Petitioner submitted a Petition the Board of Review. See attached Exhibit C — Petition to Board of Review. The values for Parcel 1, as affirmed by the 2025 March Board of Review Decision, are as follows: Tax year: 2025 2025 Taxable Value: $450,100 2025 Assessed Value: $450,100 Petitioner contends that the values for the Property are: Tax year; he 2025 True Cash Value i $700,000 2025 Taxable Value: $350,000 2025 Assessed Value: $350,000 The amount in dispute for the taxable value of Parcel 1 is $100,100 and the amount in dispute related to the assessed value of Parcel 1 is $100,100. MCL 211.27a(1) provides that “[e]xcept as otherwise provided in this section, property shall be assessed at 50% of its true cash value under section 3 of article IX of the state constitution of 1963.” For purposed of the General Property Tax Act, the term “true cash value” means the “usual
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15. 16. 17. 18. at auction sale except as otherwise provided in this section, or at forced sale,” MCL 244.27(1). The term “true cash value” for purposes of The General Property Tax Act is equivalent to a property’s fair market value. Menards, Inc. v City of Escanaba, 315 Mich App 512, 522; 891 NW2d 1 (2016). To determine the true cash value, the Property is to be valued at its highest and best use, which in this instance, given the current undeveloped state of the Property, the location on Lake Michigan, applicable zoning laws, and economic feasibility, is the continued residential classification. The three valuation methods used to determine the true cash value that have been found by this Tax Tribunal and the courts as acceptable and reliable are: (i) the cost-less depreciation approach; (ii) the sales-comparison or market approach; and (iii) the capitalization-of- income approach. Id. at 523. Based on an appraisal conducted by a certified appraiser incorporating valuation methods that the Tax Tribunal has found reliable for determining a Property’s true case value, Petitioner contends that the tru¢ cise value of the Property is $700,000, and accordingly, the taxable value and assessed value should be set at $350,000. See Exhibit D — Appraisal. WHEREFORE, Petitioner respectfully requests that this Tribunal correct the taxable value of the subject property and reduce the assessed value of the subject property based upon an accurate valuation of the property’s true cash value, award Petitioner costs pursuant to TTR 792.10217 and
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PEZZETTI, VERMETTEN, POPOVITS & UMULIS, P.C. Dated: July 24, 2025 By, Michelle L. Schubert (P86331) Attorneys for Petitioner
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EXHIBIT A
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Hichgan Deparment of Tse THIS 1S ‘NOT A TAX BILL L-4400 Notice of Assessment, Taxable Valuation, and Property Classification This form is issued under the aulhority of P.A. 206 of 1883, Sec. 211.24 (c) and Sec.211.34c, as amended. This is a mods] assessment nolice fo be used by the local assessor. FROM LEELANAL TOWNSHIP PARCEL IDENTIFICATION ATTN: ASSESSING DEPT PARCEL NUMBER: 008-232-014-00 PO BOX 338 NORTHPORT, MI 49670-0338 PROPERTY ADDRESS: E SETH RD NORTHPORT, MI 49670 OWNER'S NAME & ADDRESS/PERSON NAMED ON ASSESSMENT he ON ASSESSMENT ROLL: PRINCIPAL RESIDENCE EXEMPTION % Exempt As "Homeowners Principal Reside 00% ROCCAIV BERNARD T % Exempt As "Qualified Agricultural Property 00% ROCCA REBECCA % Exempt As "MBT Industrial Personal™ 00% 611 KNOCH KNOLLS 9% Exempt As "MBT Commercial Personal” 00% NAPERVILLE, IL 60565 Exempt As "Qualified Forest Property [] Yes No Exempt As "Development Property [| Yes No LEGAL DESCRIPTION: -00 PARCEL 1 PRT OF GOVT LOT 4 SEC 32 T32N R11W COMAT TH § % COR; TH N 00 DEG 35' 25" W 445.45 FT, TH N 87 DEG 43' 21" W 346.26 FT TO POB; TH N 87 DEG 43' 21" W 76.01 FT, TH N 82 DEG 05' 15" W 1163.17 FT TO TH SHR OF LK MI; THN 2 ACCORDING TO MCL 211.34c THIS PROPERTY IS CLASSIFIED AS: 402 Residential PRIOR YEAR'S CLASSIFICATION: 402 Residential’ ho PRIOR AMOUNT CURRENT TENTATIVE CHANGE FROM YEAR: 2024 AMOUNT YEAR: 5025 ANE 1. TAXABLE VALUE: 562,300 450,100 112,200 2. ASSESSED VALUE: 562,300 450,100 -112,200 3. TENTATIVE EQUALIZATION FACTOR: 1.000 ; 3 SE hi Ci at 4. STATE EQUALIZED VALUE (SEV): 562.300 450.100 112.200 5. There WAS or WAS NOT a transfer of ownership on this property in 2024 WAS 6. Assessor Change Reason(s): Spiit’Combined The 2025 Inflation rate Multiplier is: 1.031 Questions regarding the Notice of Assessment, Taxable Valuation, and Property Classification may be directed to the Following: Name: Phone: Email Address: CHRISTY M BROW, MAACO 231-386-5138 ASSESSOR@LEELANAUTOWNSHIPMI.GOV March Board of Review Appeal Information: BOARD OF REVIEW WILL BE HELD AT THE TOWNSHIP OFFICES. HEARINGS WILL BE HELD MONDAY, MARCH 10 TH FROM 1:00 PM TO 4:00 PM & 6:00 PM TO 9:00 PM, TUESDAY, MARCH-11 TH FROM 1:00 PM TO 4:00 PM, WEDNESDAY, MARCH 12TH
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EXHIBIT B
Page 8
CERTIFICATE OF SURVEY
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CERTIFICATE OF SURVEY LEGAL DESCRIPTIONS PARCEL 1 Part of Government Lot 4, Section 32, T32N, RIIW, Leelanau Twp., Leelanau County, Michigan, more fully described as follows: Commencing at the South 1/4 corner of said section; thence, along the North-South 1/4 ling, NO0O°35"25 Ww 445.45 feet; thence N87°43°21"W 346.26 feet to the POINT OF BEGINNING; thence, continuing N87°43'21"W 76.01 feet; thence N82°05'15"W 1163.17 feet to a traverse line along the shore of Lake Michigan; thence, along said traverse line, N23°22'17"E 99.83 feet; thence, along said traverse line, N35°23'46"E 345.78 feet; thence S76°56'23"E 636.00 feet; thence N88°28'1S"E 415.04 fect; thence 806°32'04"W 406.65 feet to the POINT OF BEGINNING. Containing 10.0 acres of land. Together with all lands lying between the sidelines of said parcel and extending to the waters of Lake Michigan, with riparian rights of record incident thereto, Together with and subject to non-exclusive usage rights over and across 33 foot wide Easements A,Band C to Seth Road per Document #2022001426, as recorded in the Leelanau County Register of Deeds. Subject to and together with all agreements, easements and restrictions of record, if any, Subject to and together with a 33 foot wide easement in part of Government Lot 4, Section 32, T32N, REIW, Leelanau Twp., Leelanau County, Michigan, the centerline more fully described as follows: Commencing at the South § corner of said section; thence, along the North-South 4 line, NOO®3525"W 445.45 feet to the POINT OF BEGINNING of said casement centertine; thence N87°43721"W 422.27 feet to the POINT OF ENDING of said easetnent, Subject to and together with a 30 foot wide walking easement in part of Government Lot 4, Section 32, T32N, R11W, Leelanau Twp., Leelanau County, Michigan, the centerline more fully described as follows: Commencing at the South 1/4 comer of said section; thence, along the North-South 1/4 tine, NOO®35'25"W 445.45 feet; thence N87°43'21"W 422.27 feet to the POINT OF BEGINNING of said easement centerline; thence N82°05'1S"W 1163.17 feet to the shore of Lake Michigan and the POINT OF ENDING of said easement, PARCEL 2 Part of Government Lot 4, Section 32, T32N, R1IW, Leelanau Twp., Leelanau County, Michigan, more fully described as follows: Commencing at the South 1/4 corner of said section; thence, along the South line of said section, S87°18'55"W 482.57 feet to the POINT OF BEGINNING; thence, continuing along said South line, S87°18'S5"W 150.47 feet; thence NOT°09'35"W 280.52 feet; thence S87°29"27"W 1123.47 feet to a traverse line along the shore of Lake Michigan; thence, along said traverse line, N23°22'17°E 458.30 feet; thence $82°05'15"E 1163.17 feet; thence S06°31'57"W 487.98 feet to the POINT OF BEGINNING. Containing 10.02 acres of land. Together with all lands lying between the sidelines of said parcel and extending to the waters of Lake Michigan, with riparian rights of record incident thereto. Together with and subject to non-exclusive usage rights over and across 33 foot wide Easements A, Band C 10 Seth Road per Document #2022001426, as recorded in the Leelanau County Register of Deeds. Subject to and together with all agreements, easements and restrictions of record, if any. Together with a 33 foot wide easement in part of Government Lot 4, Section 32, T32N, RI1W, Leelanau Twp., Leelanau County, Michigan, the centerline more fully described as follows: Commencing at the South 1/4 corner of said section; thence, along the North-South § line, NO0°3525"W 445,45 feet to the POINT OF BEGINNING of said easement centerline; thence N87°43'21"W 422.27 feet to the POINT OF ENDING of said easement. Subject to and together with a 30 foot wide walking casement in part of Government Lot 4, Section 32, T32N, RIIW, Leelanau Twp., Leelanau County, Michigan, the centerline more fully described as follows: Commencing at the South 1/4 comer of said section; thence, along the North-South 1/4 line, N0O0°3525"W 445.45 feet; thence N87°43'21"W 422.27 feet to the POINT OF BEGINNING of said casement centerline; thence N82°05'(S"W 1163.17 feet to the shore of Lake Michigan and the POINT OF ENDING of said easement, "
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CERTIFICATE OF SURVEY
LEGAL DESCRIPTIONS
PARCEL 3
Part of Government Lot 4, Section 32, T32N, R| |W, Leelanan Twp., Leelanau County, Michigan, more
fully described as follows:
Commencing at the South 1/4 corner of said section; thence, along the North-South 1/4 line, N0O0°35'25“W
445.45 feet to the POINT OF BEGINNING; thence N87°43'21"W 346.26 feet; thence N06°32'04"E 406.65
feet; thence N88°28'15"E 295.43 feet; thence S00°35'25"E 425.67 feet to the POINT OF BEGINNING.
Containing 3.05 acres of land.
Together with and subject to non-exclusive usage rights over and across 33 foot wide Easements A, Band C
to Seth Road per Document #2022001426, as recorded in the Leelanau County Register of Deeds.
Subject to and together with ali agreements, easements and restrictions of record, if any.
Subject to und together with a 33 foot wide easement in part of Government Lot 4, Section 32, T32N,
R11W, Leelanau Twp., Leelanau County, Michigan, the centerline more fully described as follows:
Commencing at the South 1/4 corner of said section; thence, along the North-South 1/4 line, N00°3525"W
445.45 feet to the POINT OF BEGINNING of said casement centerline; thence N87°43721"W 422.27 feet to
the POINT OF ENDING of said easement.
Together with a 30 foot wide walking easement in part of Government Lot 4, Section 32, T32N, RI W,
Leelanau Twp., Leelanau County, Michigan, the centerline more fully described as follows:
Commencing at the South 1/4 corner of said section; thence, along the North-South 1/4 line, NO0°3525"W
445.45 feet; thence N87°43'21"W 422.27 feet to the POINT OF BEGINNING of said easement centerline;
thence N82°05'15"W 1163.17 feet to the shore of Lake Michigan and the POINT OF ENDING of said
easement.
PARCEL 4
Part of Government Lot 4, Section 32, T32N, RI IW, Leelanau Twp, Leelanau County, Michigan, more
fully described as follows:
BEGINNING at the South 1/4 corner of said section; thence, along the South line of said section,
S87°18'S5"W 482,57 feet; thence, NO6°31'S7"E 487.98 feet; thence S87°43'2
["E 422.27 feet; thence
S00°35'25"E 445.45 feet to the POINT OF BEGINNING. Containing 4.82 acres of land,
Together with and subject to non-exclusive usage rights over and across Easements A, Band Co Seth
Road per Document #2022001426, as recorded in the Leelanau County Register of Deeds.
Subject to and together with all agreements, easements and restrictions of record, if any.
Subject to and together with a 33 foot wide easement in part of Government Lot 4, Section 32, T32N,
RIIW, Leelanau Twp., Leelanau County, Michigan, the centerline more fully described as follows:
Commencing at the South 1/4 corner of said section; thence, along the North-South § line, N00°35'25"W
445.45 feet 10 the POINT OF BEGINNING of said easement centerline; thence N87°43'21"W 422.27 fect to
the POINT OF ENDING of said easement.
Together with a 30 foot wide walking easement in part of Government Lot 4, Section 32, T32N, R1{W,
Leelanau Twp., Leelanau County, Michigan, the centerline more fully described as follows:
Commencing at the South 1/4 corner of said section; thence, along the North-South 1/4 line, NO0®3525"W
445.45 feet; thence N87°43'21"W 422.27 feet to the POINT OF BEGINNING of said easement centerline;
thence N82°05'15"W 1163.17 feet to the shore of Lake Michigan and the POINT OF ENDING of said
ot Cia P00)
casement.Page 11
CERTIFICATE OF SURVEY LEGAL DESCRIPTIONS PARCEL 1 Conservation Easement A Conservation Easement to burden Parcel | of this survey - being part of Government Lot 4, Section 32, T32N, R11 W, Leelanau Twp., Leelanau County, Michigan, more fully described as follows: Commencing at the South 1/4 corner of said section; thence, along the North-South 1/4 line, N00°35'25"W 871.12 feet; thence S88°28'15"W 710.47 feet to the POINT OF BEGINNING of said Conservation Easement; thence, along a bluff edge for the following 4 courses, thence $29°10°59"E 96.61 feet; thence S14°58'19"E 32.88 feet; thence S08°02'16"W 124.77 feet; thence S09°29'45"E 119.24 feet; thence N82°05'15"W 926,08 feet to a traverse line along the shore of Lake Michigan; thence, along said shoreline traverse, N23°22'17°E 99.83 fect;thence N35°23'46"E 345.78 feet; thence, along the North line of Parcel |, $76°36'23"E 636.00 feet to the POINT OF BEGINNING. Containing 6.92 acres of land. Together with all lands lying between the sidelines of said parcel and extending to the waters of Lake Michigan, with riparian rights of record incident thereto. Subject to and together with a 30 foot wide walking easement in part of Government Lot 4, Section 32, T32N, RITW, Leelanau Twp., Leelanau County, Michigan, the centerline more fully described as follows: Commencing at the South 1/4 corner of said section; thence, along the North-South 1/4 line, NO0O®35'25"W 445.45 feet; thence N87°4321"W 422,27 feet to the POINT OF BEGINNING of said easement centerline; thence N82°05'15"W 1163.17 feet to the shore of Lake Michigan and the POINT OF ENDING of said casement. PARCEL 2 Conservation Easement A Conservation Easement to burden Parcel 2 of this survey - being part of Government Lot 4, Section 32, T32N, RUIW, Leelanau Twp., Leelanau County, Michigan, more fully described as follows: Commencing at the South 1/4 corner of said section; thence, along the South line of said Section, S87°18'55"W 633.04 feet to the North ¥ corner of Section 5, T3 IN, R1IW; thence NOI°09'53"W 280.52 feet; thence, S87°29'27"W 208.37 feet to the POINT OF BEGINNING; thence, along the bluff edge for the following 6 courses: thence N79°47'27"E 55.91 feet;thence N69°32'36"E 72.07 fect; thence N12°12'18"W 17.84 feet; thence N23°37'06"E 41.88 feet; thence N11°38'52"E 88.00 feet; thence N21°24'02"E 81.61 feet to the North fine of Parcel 2; thence along said North line, N82°05'I 5"W 926.08 feet to a traverse along the shore of Lake Michigan; thence, along said shoreline traverse, $23°22'17"W 458.30 feet; thence N87°29'27"E 916.84 feet to the POINT OF BEGINNING. Containing 7.54 acres of land. Together with all lands lying between the sidelines of said parcel and extending to the waters of Lake Michigan, with riparian rights of record incident thereto. Subject to and together with a 30 foot wide walking easement in part of Government Lot 4, Section 32, T32N, R1TW, Leelanau Twp., Leelanau County, Michigan, the centerline more fully described as follows: Commencing at the South 1/4 corner of said section; thence, along the North-South 1/4 line, NOO°3525"W 445.45 feet; thence N87°43'21"W 422.27 feet to the POINT OF BEGINNING of said casement centerline; thence N82°05'15"W 1163.17 feet to the shore of Lake Michigan and the POINT OF ENDING of said casement. by: (Aver) Diy J
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EXHIBIT C
Page 13
Q§¥E
Michigan Department of Treasury
818
(Rev. 11-12)
Petition to Board of Review
L-4035
This form Is issued under the authority of P.A. 206 of 1893, as amended. Filing is voluntary, however you may not appost to the Michigan Tax Tribunal
or the State Tax Commission unless you first protest fo the Board of Review.
TO BE COMPLETED BY OWNER OR OWNER'S AGENT
Owner's Name (Ploase Printor Typs)
TTT
| Peiitionérs Name {If Other than Owner. Please Print or Tyee)
Bernard T. Rocca IV
oo
Co
[Townstiporeiy “TT
h
or
County
1
Leelanau Township
Leelanau
Co
The undersigned protosts tho assessed value andlor the tontative taxable value and/or the property classification andfor the qualified
agricultural property exomption of the following described property:
woe
<r
Sher
008-232-014-00
Protested (tem
[x] Assessed Value
[¥] Tentative Taxable Value
[_] Classification
1. PROTEST OF ASSESSMENT
(Complete this section for a protest of assessed value andfor tenlative taxable value)
[J Qualified Agricultural
Property Exemption
Assessed Amount
“Ovinors Entimalo of True Cash Value
|Tonaliva Taxable Valug
$450,100
$709,000
$450,100
2. PRQTEST OF CLASSIFICATION.
a.
.
.
.
{Cormiplete this section for a request to change the tlassificalion. The Board of Review must make their decision regarding classification In
accordance with Section 211,34 of the Michigan Compiled Laws. The Board of Review shall not be Influenced by the effoct that a pariicular
classification has on thal property's status as a homeowner's principa] residence of qualified agricultural property.)
ee
Classification of properly on this year's assaasment roft
’
Classification should be (check ono of the following):
{7} Agricultural
[C1 industrial
{7} Timber Cutover
[J utility (Personal Property Only)
[~] commercial
1] Residentia
:[[] Developmental
3. PROTEST OF EXEMPTION FOR QUALIFIED AGRICULTURAL PROPERTY
(if the assessor has denied or changed the percentage of the exemption from tne 18 mills of focal schoot operailng tax for qualified agricultural
Froperty, the owner may appeal ths action to the March Board of Review. THE BOARD OF REVIEW HAS NO AUTHORITY TO CONSIDER OR ACT
PON THE EXEMPT)
N FROM THE 18 SCHOOL OPERATING MILLS FOR HOMEOWNER'S PRINCIPAL RESIDENCE PROPERTIES)
Percent quaiiied “Adrcatura
Xamption granted by aasastor Enter olf ‘oxempiion
Parcar quatiied agricuftural “sxomplion requested by awner {Enter 100 If full
dented)
exemplion requested)
4. REASON FOR PROTEST
oo
.
‘State reason(s) for protest of assessed value and/or the tentative taxable “valk andlor classlicaiion andlor qualified agreuiliral propery exemption
Parcel was purchased for $709,000 as part of a $900,000 transaction for two parcels and should be assessed based
on the parcel sale value of $709,000. 6.92 of the 10 parcel acres is being held in conservation trust with Leelanau
Township (see survey), which should lower taxable value.Page 14
Form 618, Page 2 FOR BOARD OF REVIEW USE ONLY INSTRUCTIONS; : Incorporate a copy of this form and the assigned number In the Board of Review minutes. Patilon Number : parcel Code 1. ASSESSED VALUE [. Disposition by Board of Review. The Board of Review must state I rLbEEH. Denied Ol Assessed Value Changed From, & i. Redord of volo - Board or hres ‘member committe of board [ Chairperson; Bl vos One 4 Member: X] ves es [No / | wv ras, If you disagree with the decision of the Board of Review regarding lontative assessed value, you may appeal that decision by filing g petition with the Michigan Tax Tribunal at B,Q Box 30232, Lansing, MI 4800: Commiercid] Real, Industrial Real, Developmental Real, Commercial Personalj _ Industral Personaf’and Ulillly Personat Property may be appealed by May 31,, Agricultural Real, Residential Real, Timbar-Cutover Real and-AgHEOFa] Personal Properly may be appealed by July 31, The poten must be filed o ichigan Tax Tribunal form or a form approved by the Michigan Tax | Tilbury. arte rlbunal forms are 6) Elian . . } = RA WI CA: Artes Fibres member complies of board ol | Chairperson: & Yes o No J&L. Member, sr fre my No py Member: os lv [Ino At: Initials a MITT i . — nid - | me "Disposiion by ‘Board of Revlow, The Board o Review must state the reason tor its action befow. [Joenled [] Classification Changed From, Record of vote - Board or three member cominifled of brard , Chairperson: [ ] Yes LIN No TW Member: 3] Yes. LINe RT Member: [Yes [No iniiafe. Reason for board adorn ha RE h J If you disagree with the decision of the Board of Review regarding lassifcatony you may appeal by sending Form 2187 to the State Tax Commission atP0. Box 30471, LSIAGH MI48809 by dune 30: -— a, QUALIFIED AGRICULTURAL PROPERTY EXEMPT] N "Disposition by Board of Review. The Board of Review must siate he [] Exemption Request Denied cn | Record of vote - Board or lhrea member commillea of board a oT |, Chairperson: [ves MO No HE Member: OJ Yi Mr Manoer: [yes Ll No re | Reason for board acllon
Page 15
EXHIBIT D
Page 16
APPRAISAL OF REAL PROPERTY Fax Parcel Viewer eclsi Eom, ebtae | Stibject E Seth Rd, *Parcei 1 LOCATED AT E Seth Rd, "Parcel 1 Northport, Mi 49670 "Parcel 1" see attached survey FOR Bernard T. Rocca IV 1414 Forest Ave, Evanston, IL. 06/02/2001 AS OF 12/31/2024 BY
Page 17
JUAN CARBONELL Certified General Real Estate Appraiser, since 1991 Phone (231) 935-4889 LC ARBONELL APPRAISAL, INC. Reliable & Experienced - Serving Grand Traverse Asea & Northwest Lower Michigan www.CarbonelfAppraisal.com Carbonell Appraisal, Inc. 119 Monroe St, Suite #101 Traverse City, Mi 49684 (231) 935-4889 www CarbonetiAppraisal.com 07/04/2025 Bernard T. Rocca IV 1414 Forest Ave. Evanston, IL 06/02/2001 Re: Property: E Seth Rd, "Parcel 1" Northport, MI 49670 N/A Owner of Record: Opinion of Value; $ 700,000 Effective Date: 12/31/2024 in accordance with your request, | have appraised the above referenced property. The report of that appraisal is attached. The purpose of the appraisal is fo develop an opinion of market value for the property described in this appraisal report, as improved, in unencumbered fee simple title of ownership. This report is based on a physical analysis of the site and improvements, a focational analysis of the neighborhood and city, and an economic analysis of the market for properties such as the subject. The appraisal was developed and the report was prepared in accordance with the Uniform Standards of Professional Appraisal Practice. The opinion of value reported above is as of the stated effective date and is contingent upon the certification and limiting conditions attached. it has been a pleasure to assist you. Please do not hesitate to contact me if I can be of additional service to you. Sincerely,
Page 18
Clignt Bernard T. Rocca IV File No, 225045 Property Address _E Seth Rd, "Parcel 1 City Northport County Leelanau State MI Zip Code 49670 Owner Bernard T. Rocca IV TABLE OF CONTENTS Cover Page 1 Letter of Transmittal 2 Table of Contents 3 GP Land 4 GP Land 5 GP Land . 6 Additional Comparables 4-6 .. WT GP Land Certifications Addendum ... . 8 USPAP Identification 11 RIT: — 12 County GIS Map - Aerial View 13 Land Subject Photos . 14 Land Comparable Images 1-3 Land Comparable Image 4 .. 16 Location Map .... 17 Appraiser's Qualifications - Page 1. 18 Appraiser's Qualifications - Page 2 . 19
Page 19
Carbonell Appraisal; inc.
LAND APPRAISAL REPORT
FileNo.:
225045
Property Address:
__E Seth Rd, "Parcel 1"
Clty: Northport
State: MI
Zip Code: 49670
County:
Leelanau
Legal Description:
"Parcel 1" see attached survey
5
Assessor's Parcel #:
45-008-232-014-00
Yax Year: 2025
R.E. Taxes: $
ToBeDetrm.
Special Assessments: $
None Known
[1] Markel Area Name:
Leglanau County
Map Reference.
{ eelanau Twp,
Census Tract:
9701.00
2
Current Owner of Record:
Bernard T, Rocca IV.
Boreower (if applicable):
N/A Owner of Record:
@ | Project Type (if applicable):
[] PUD
[] De Minimis PUD
Other (describe)
Metes and Bounds parcel.
HOA: $ None Known
[J peryear
[1] per month
Are there any existing improvements to the property?
XI to
[Yes
If Yes, indicate curent occupancy:
[Owner
[] Tenant
[] Vacant
[_] Not habitable
f Yes, give a brief description:
/| The purpose of ihis appraisal is to develop an opinion of:
DX) Market Value {as defined), or
{| other type of value {describe}
This report reflects the following value (if not Current, see comments):
[7] Current (the Inspaction Date is the Effective Date)
D4 Retrospective
[] Prospective
Property Rights Appraised:
DQ Fee Simple
[] Leasehold
[J Leased Fee
|] Other (describe)
&
[intended Use:
To provide the owner client with a professional non-biased estimate of the True Cash Value of the subiect property for use in a property tax
21 assessment appeal. The effective date of the appraisal is 12/31/2024,
z
2 intended User(s) (by name or type):
Client, local and state Assessment officials.
<
Client:
Bernard T. Rocca IV
Address:
1414 Forest Ave,, Evanston, IL. 06/02/2001
Appraiser:
Juan Carbone}
Address:
119 Monroe St, Suite #101, Traverse City, Mi 49684
Characteristics
Predominant
One-Unit Housing
Present Land Use
Change in Land Use
Location:
[J Urban
[7] Suburban
Rural
Occupancy
PRICE
AGE
| One-Unit
65 %| BG Not Likely
Bult up:
[Dover7s%
BX 25.75%
[] Under 25%
|X) Owner
98% |
$(000)
(yrs)
{2-4 Unit
1%| [J Likely *
[J In Process *
Growth rate:
[1] Rapid
x stable
[7] Slow
[7] Tenant
85
Low
0
{Multi-Unit
1%]
* To:
| Property values:
[] Increasing
DX] Stable
[7] Declining
$X) Vacant (0-5%) |
5000
High
170
{Comm'
5%
Demand/supply:
[_] Shortage
DK) n Balance
[_] Over Supply
{{] Vacant (>5%)
560
Pred
30
|AgWds
28%
Marketing time:
[7] Under
3 Mos.
[X) 3-6 Mos.
[7] Over
6 Mos.
%
Factors Affecting Marketability
Item
Good
Average
Far
Poor
N/A
lem
Good
Average
Far
Poor
NA
|
Employment Stability
[0
B®
[0
[0
[3
Adequacy of Utiities
Oo
xX
O
O
O
|
Convenience to Employment
0
I
[0
[OO
[3
Property Compalibilty
Oo
xX
OO
OO
OO
Convenience to Shopping
0
B®
[OO
[OO
[1
Protection from Detrimental Conditions
Cl
X
[I
[|
Z Convenience to Schools
0
®
[J
[J
{J
Police asd Fire Protection
[]
x
0
0
J
© Adequacy of Public Transportation
[OD
X
[J
[OO
[J
General Appearance of Properties
OO
xX
O
°O
0
+ | Recreational Facilities
[0
BR
[0
[C1
[0
Appealto Market
[|
Prd
J
[1
[J
Z
Market Area Comments:
Leslanau County is a mostly rural peninsuta projecting north into Lake Michigan to form the western boundary of Grand Traverse Bay. It
@ 1 has a National Lake Shore Park, several small waterfront communities, fruit orchards, gentleman farming, targe inland lakes and generations of recreational Use and is
3
an American Viticultural Area. Private waterfront & large acreage properties are the high end of the price range.
Z
Subject is located about 2 miles west of the village of Northport with private high wooded bluff frontage on Lake Michigan.
=
.
31 NGLR MLS 5 county area 1 family unit stats: Jan-Dec'23t0'24, MedianPricg -4% AvaPrice +1%, Jan'25 136 sales -7% from Jan'25, avg DaysOnMarket 105. As of
£102/24/2005: 759 Active listings ~ 6 month supply. Home prices locally appear to be stable currently folfowing steadily increasing median sale prices since 2009.
Realtor Magazine 02/18/25 "With rates and prices stabilizing, home sales wilt continue the upward trajectory that started in the final months of 2024."Page 20
LAND APPRAISAL REPORT
Dimensions:
445.78" High Bluff ~ 200'above Lake Mich, Frontage x lrrequiar
Zoning Classification:
~~ R-1
File No.:
Site Area:
Low Density Residential
225045
445'BIUHLIMY10.008c
10.00 Acres
Description:
Do present improvements comply with existing zoning requirements?
[7] Yes [J No
[3 No Improvements
Uses allowed under current zoning:
Residential
Ave CC&Rs applicable?
[DG Yes {| No
[_] Unknown
Have the documents been reviewed?
DX) Yes [J No
Ground Rent {if applicable)
$
/
Comments:
A conservation easement over the west 8.92 acres from bluff edge o Lake Mich prevents any building these except a shared walkway & stairway to reach the take front.
Highest & Best Use as improved: ~~ DX) Presentuse, or
[_] Other use (explain)
“|
Actual Use as of Effective Date:
Summary of Highest & Best Use:
Agricultural, Recreational, Future Residential
Use as appraised in this report.
Agricultural, Recreational, Future Residential
The use as appraised - Is legally permissible, physically possible, financially feasible, and results in the highest value, The CC&Rs
noted above stands for Covenants, Conditions, and Restrictions. The appraiser is unaware of any CC&Rs for the subject property, a title search is beyond the
scope of this appraisal - see attached STATEMENT OF ASSUMPTIONS & LIMITING CONDITIONS,
FS
Utilities
Public
Other
Provider/Description
Off-site Improvements
Type
Public
Private | Frontage
Adequate
&
Electricity
MX
3
Typical
Street
Seth Road is a Public Read
Bd
[3
{Topography
200" down wooded bluff to Lake MI
& | cas
XJ
Typical
wid
Typical
Size
Typical for Arca
1 Water
[mn]
RequiresPrWell Typ
Sutace
Gravel
Shape
Irregular
OQ santary Sewer
[7]
0X
RequiresPrvtSeptic/Typ | Curb/Guter
None, Typical
[1]
[1
{Drainage
Appears Adequate
t=fsomSewer
[7]
[C1
None, Typical
Sidewalk
None, Typical
OO
0
|View
Lake & Islands View
@Toephone
[J
BX
Typical
Street Lights
None, Typical
oo
Mutmedia
[1]
BQ
Typical
Alley
None, Typical
Od
Other site elements:
inside Lot] ComerLot
[| CuideSac
[| Underground Utiities
[7] Other (describe)
FEMA Spec! Flood Hazard Area
[7] Yes
[XJ No FEMA Flood ZoneX
FEMA Map # 26083C0118E
FEMA Map Date
6/7/2023
|
Site Comments:
My work does not include researching land records for easements, encroachments or environmental issues.
| am not an enviro inspector/expert. Unless noted
|
otherwise in my report, no apparent adverse easements, encroachments or environmental problems were observed & appraisal assumes none exist,
if you require any certainty In these regards, you must hire an expert.
| noted no agricuitural activity on the property.
EXTRAORDINARY ASSUMPTIONS- might have affected the assignment results: The sublect site Is assumed buildable east of the conservation easement area &
environmentally sound -
| recommend any user of this appraisal confirm same for them selves with the proper authorities.
On the Data Source(s) fine in the following grid DOM is short for Days On Market,
FEATURE
|
SUBJECT PROPERTY
COMPARABLE NO. 1
COMPARABLE NO. 2
COMPARABLE NO. 3
Address
E Seth Rd, "Parcel 1"
E Seth Rd, "Parcel
1& 3"
E Seth Rd, "Parcel 4"
E Seth Rd
Northport, M 49670
Northport, Mi 49670
Northport, Mi 49670
Northport, MI 49670
Proximity to Subject
Less than 0.01 miles
0.12 miles SE
Less than 0.01 miles
Sale Price
$
N/AL
3
900,000
:
$
320,000
§
1,125,000
|
Price/
§
$
0 22
8
66,390.04
$
12.50
Q
Data Source(s)
Client & Inspected
NGLRMLS#191455485, DOM. 34
NGLRMLS#1927091; DOM 230
NGL RMLS #1893678; Do 149
Q | Vertication Source(s) __| Assessing Data
Assessing, Listing Realtor & Buyer
Listing Realtor & Buyer
Assessing Data "Arm's Length’
a
VALUE ADJUSTMENT
DESCRIPTION
DESCRIPTION
+(} § Adjust
DESCRIPTION
+1) § Adjust
DESCRIPTION
+4 § Adjust
<|
Sales or financing
NA
AmiLth
Amt
Armith
Z | concessions
NA
Cash;0
Cash:0
Cash:0
2
Date of Sale/Time
12/31/2024
07/23/2004
006/01/2025
0[03/02/2022
+60,000
| Rights Appraised
Feg Simple
Fee Simple
Feg Simple
Fee Simple
H
Location
Lk, Mich /LeelanauTwp. {Lk Mich /LeelanauTwp.
Lk.Mich/LeelanauTwp.
Lk.Mich./LeelanauTwp.
O|
Site Area
445'BluffLiMI/10.00ac [445 BluffLkiI/13.05a¢c
-200,000]4.82 ac
+200,000]900'BluffLkM/28.00ac
-500,0004Page 21
LAND APPRAISAL REPORT
Filho: 225045
Summary of Sales Comparison Approach
The quality and quantity of data available and analyzed herein is sufficient for credible results in this approach to value.
All
|
of the comparables analyzed are comparable properties in the subject's marketing area and are the most current, proximate and similar to the subject that
| could find
_
3
to bracket the subject's important value adding characteristics.
All of the adiustments are derived from the Sensitivity Analysis
| have completed in the Sales Grid(s).
|
The range of the Adjusted Sale Price of Comparables is $695,600 to $705,000, the Median indication is $700,000, the Mean is $700,000, The standard deviation as a
2
percentage of the Mean is 1%
. Equal weight is given to all of the Comparables, the Median indication (if necessary rounded to the nearest $1,000) becomes the
=|
Indicated Value by Sales Comparison Approach.
2
I
x
g
=
Q
[5]
i
&
My research
DC did
did not reveal any prior sales or transfers of the subject property for the three years prior to the effective date of this appraisal.
%
Data Source(s).
Northern Great Lakes Realtors (NGLR) MLS & Assessing Data online.
fe}
1st Prior Subject Sate/Transfer
Analysis of safe/transfer history and/or any current-agreement of saleflisting:
The prior sale included more than just the
|
Date:
03/02/2022
subject property. It is comp #3 analyzed in the sales comparison approach herein. Based on a review of MLS and public
=
pice:
$1,125,000
records, the subject's prior sale appears to have been an arm's-length transaction and was not impacted
by any
ul}
Source(s): NGLR MLS & Assessing Data __| concessions.
2
2nd Prior Subject Sale/ Transfer
_
-
i
FS Date:
The appraiser is unaware of any agreements of sale or listings of the subject property current as of the effective date of the
=|
Price:
appraisal.
—
Source(s):
PROJECT INFORMATION FOR PUDS (if applicable}
|_| The Subject is part of a Planned Unit Development.
a
Legal Name of Project:
a
_
_
2
Describe common elements and recreafional facilities:
oo
Indicated Value by: Sales Comparison Approach $
700,000
Final Reconciiation
The Cost and Incoms Approaches to Value are not necessary for credible assignment results and/or not applicable or relevant to the subject
|
property. Full consideration in the final reconciliation is given to the Market Approach.
It is applicable, relevant and the most reliable value indicator in this section of the
i= | market.
2
This appraisal
is made [XX “asis”, or
|} subject
to the following conditions:
See addendum regarding. assumptions, Limiting Conditions &
El Appraisers Certification.
EXTRAORDINARY ASSUMPTIONS
- might have affected the assignment results: Subject is assumed to be
3
buildable & environmentally sound.
}
2 {This
report
Is
also subject
to olher Hypothetical Conditions
and/or Extraordinary Assumptions
as specified
in
the attached addenda.
Based upon
an
inspection
of the subject property, defined Scope
of Work, Statement
of Assumptions and Limiting Conditions, and Appraiser's Certifications,
my
(our)
Opinion
of
the
Market
Value
{or
other
specified
vaiue
type),
as
defined
herein,
of
the
real
property
that
is
the
subject
of
this
report
is:
$
700,000
Jas of:
12/31/2024
, which
is the effective date
of this appraisal.
if indicated above, this Opinion
of Value
is Subject to Hypothetical Conditions and/or Extraordinary Assumptions included
in this report.
See attached addenda.
£
R tue
and
complete copy
of
this
report contains
19
pages,
including
exhibils which
are: considered
an
Integral
part
of the
repor.
This appraisal
report may
not be
Q
properly understood without reference
to
the
information contained
in
the complete
report, which contains
the following attached
exhibits:
i"
+ Scope of Work
E|
X Limiting cond /Centifications
Narrative Addendum
MX Location Map(s)
i..} Flood Addendum
L_ Additional Sales
<<)
X Photo Addenda
X County GIS Map
__ Hypothetical Conditions
|] Extraordinary Assumptions
XC Appraiser's Qualifications
Client Contact:
Co
Client Name:
Bernard T, Rocca
{V
£-Mail:
bernard.focca@gmail.com
Address:
1414 Forest Ave., Evanston, It 06/02/2001
APPRAISER
SUPERVISORY APPRAISER (if required)
or CO-APPRAISER (if applicabte)
ua
[72]
Supervisory or
B | Appraiser Name) , Juan Carbone
|
Co-hppraiser Name:
i
| Company:
Carbonell Appraisal, Inc.
Company:
i.
.Page 22
ADDITIONAL COMPARABLE SALES
Fle No:
995045
FEATURE
T
SUBJECT PROPERTY
COMPARABLE NO. 4
COMPARABLE NO. §
COMPARABLE NO. 6
Address
E Seth Rd, "Parcel 1*
12063 N Foxview Dr
Northport, MI 49670
Northport, MI 49670
Proximity to Subject
2.27 miles NE
Sale Price
$
NALS
Teas
445,000)
$
$
Price/
$
$
255.500
$
:
$
Data Source(s)
Client & Inspected
NGLRMLS#1897463,00M 54
Verification Source(s)
| Assessing Data
Assessing Data "Arm's Length"
VALUE ADJUSTMENT
DESCRIPTION
DESCRIPTION
+(-) § Adjust
DESCRIPTION
+(3) $ Adjust
DESCRIPTION
+{) § Adjust
Sales of Financing
N/A
ArmLth
Concessions
N/A
Cash:0
|
Date of Sale/Time
12/31/2024
04/03/2022
430,000,
Rights Appraised
Fee Simple
Fee Simple
Location
LkMich./LeelanauTwp. |Lk.Mich./LeelanauTwp.
Site Area
44,510.00
174'BlufiLkMl/1.69ac
+225,000]
Topo / View
HighBluff/LkMich&lsles | HighBluff/tkMich&Isles
Improvements
fulureSharedStairToLakeM
| SharedStairToLakeM|
0
Other
Conservation Esmnt.
[None
0
Net Adjusiment (Total, in 9)
X+
[1-18
265000
(1+
[1-18
O+
[1-18
Adjusted Sale Price (in $)
:
$
700,000f
5500
$
$
Summary of Sales Comparison Approach
See Summary of Sales Comparison Approach comment at the top of the previous page.
SALES COMPARISON APPROACHPage 23
Assumptions & Limiting Conditions
FieNos 225045
Property Address:
E Seth Rd, "Parcel 1°
City: Nosthport
State: MI
Zip Code: 49670
Clent:
Bernard T. Rocca IV
Address:
1414 Forest Ave,, Evanston, Il. 06/02/2001
Appraiser.
Juan Carbonell
Address:
119 Monroe St, Suite #101, Traverse City, M| 49684
:| STATEMENT OF ASSUMPTIONS & LIMITING CONDITIONS
“|
- The appraiser will not be responsible for matters of a legal nature that affect either the property being appraised or the title to it. The appraiser assumes
that the title is good and marketable and, therefore, will not render any opinions about the title. The property is appraised on the basis
of it being under responsible ownership.
- The appraiser may have provided a plat and/or parcel map in the appraisal report to assist the reader in visualizing the lot size, shape, and/or orientation.
The appraiser has not made a survey of the subject property.
- If so indicated, the appraiser has examined the available flood maps that are provided by the Federal Emergency Management Agency {or
other data sources) and has noted in the appraisal report whether the subject site is located in an identified Special Flood Hazard Area. Because
the appraiser is not a surveyor, he or she makes no guarantees, express or implied, regarding this determination.
- The appraiser wilt not give testimony or appear in court because he or she made an appraisal of the property in question, unless specific arrangements to
do so have been made beforehand.
- The appraiser has noted In the appraisal report any adverse conditions (inctuding, but not limited to, the presence of hazardous wastes, toxic substances,
etc.) observed during the inspection of the subject property, or that he or she became aware of during the normal research involved
in performing the appraisal. Unless otherwise stated in the appraisal report, the appraiser has no knowledge of any hidden or unapparent
conditions of the property, or adverse environmental conditions (including, but not fimited to, the presence of hazardous wastes, toxic substances, etc.) that
would make the property more or less valuable, and has assumed that there are no such conditions and makes no guarantees or
warranties, express or implied, regarding the condition of the property. The appraiser will not be responsible for any such conditions that do exist
or for any engineering or testing that might be required to discover whether such conditions exist, Because the appraiser is not an expert in the
field of environmental hazards, the appraisal report must not be considered as an environmental assessment of the property.
- The appraiser obtained the information, estimates, and opinions that were expressed in the appraisal report from sources that he or she
considers to be reliable and believes them to be true and correct. The appraiser does not assume responsibility for the accuracy of such items
that were furnished by other parties.
- The appraiser will not disclose the contents of the appraisal report except as provided for in the Uniform Standards of Professional Appraisal Practice, and
any applicable federal, state or local laws.
- An appraiser's client is the party {or parties) who engage an appraiser in a specific assignment. Any other party acquiring this report from the
client does not become a party to the appraiser-client relationship. Any persons receiving this appraisal repert because of disclosure requirements
applicable to the appraiser's client do not become intanded users of this report unless specifically identified by the client at the time of the
assignment.
.
- The appraiser's written consent and approval must be obtained before this appraisal report can be conveyed by anyone to the public, through advertising,
public refations, news, sales, or by means of any other media, or by its inclusion in a private or public database. Possession of this
report or any copy thereof does not carry with it the right of publication.
- Forecasts of effective demand for the highest and best use or the best fitting and most appropriate use were based on the best available data concerning
the market and are subject to conditions of economic uncertainty about the future,
The Scope of Work is the type and extent of research and analyses performed in an appraisal assignment that is required to produce credible assignment
results, given the nature of the appraisal problem, the specific requirements of the intended user(s) and the intended use of the appraisal report. Reliance
upon this report, regardless of how acquired, by any party or for any use, other than those specified in this report by
the Appraiser, is prohibited, The Opinion of Value that is the conclusion of this report is credible only within the context of the Scope of Work, Effective
Date, the Date of Report, the Intended User(s), the Intended Use, the stated Assumptions and Limiting Conditions, any Hypothetical Conditions and/or
Extraordinary Assumptions, and the Type of Value, as defined herein. The appraiser, appraisal firm, and related parties
assume no obligation, liability, or accountability, and will not be responsible for any unauthorized use of this report or its conclusions.
Additional Comments (Scope of Work, Extraordinary Assumptions, Hypothetical Conditions, ete.):
Assumptions:
The appraiser is not a building or environmental inspector, The appraiser provides an opinion of value that assumes that the property is environmental,
mechanically and structurally sound, unless otherwise noted in the appraisal. The value could be considerably less if these assumptions are found to be
|
untrue. A determination of this is beyond the scope of the appraisal, The appraisal does not guarantee that the property is free of defects or environmental
problems. The appraiser performs an inspection of visible and accessible areas only and does not walk the entire property. Environmental problems may
be present in areas the appraiser cannot or does not see. A professional home inspection or environmental inspection is recommended. Appraiser cannotPage 24
Definitions & Scope of Work Fleto: 225045 Property Address: E Seth Rd, "Parcel 1" City: Northport State: MI Zip Code: 49670 Client: Bernard T. Rocca IV Address: 1414 Forest Ave., Evanston, IL 06/02/2001 Appraiser: Juan Carbonell Address: 119 Monroe St, Suite #101, Traverse City, MI 49684 DEFINITION OF MARKET VALUE in this report is "True Cash Value": “True cash value’ means the usual selling price at the place where the property to which the term is applied is at the time of assessment, being the price that could be obtained for the property at private sale, and not at auction sale except as otherwise provided in this section, or at forced sale, The usual selfing price may include sales at public auction held by a nongovernmental agency or person if those sales have become a common method of acquisition in the jurisdiction for the class of property being valued. The usual sefling price does not include sales at public auction if the sale is part of a liquidation of the selfer's assets in a bankruptcy proceeding or if the seller is unable to use common marketing techniques to obtain the usual selling price for the property. A sale or other disposition by this state or an agency or political subdivision of this state of land acquired for delinquent taxes or an appraisal made in connection with the sale or other disposition or the value attributed to the property of regulated public utilities by a governmental regulatory agency for rate-making purposes is not controlling evidence of true cash value for assessment purposes. In determining the true cash value, the assessor shall also consider the advantages and disadvantages of [ocation; quality of soil; zoning; existing use; present economic income of structures, including farm | structures; present economic income of land if the land is being farmed or otherwise put to income producing use; quantity and value of standing timber; water power and privileges; minerals, quarries, or.other valuable deposits not otherwise exempt under this act known to be avelable I De lanl and their value. The source of this definition is from Michigan's: THE GENERAL PROPERTY TAX ACT (EXCERPT) Act ol 27. Additional Comments (Scope of Work, Extraordinary Assumptions, Hypothetical Conditions, etc.): | The Scope of Work is the type and extent of research and analyses performed in an appraisal assignment that is required to produce credible assignment results, given the nature of the appraisal problem, the specific requirements of the intended user(s) and the intended use of the appraisal report. Reliance upon this report, regardless of how acquired, by any party or for any use, other than those specified in this report by the Appraiser, is prohibited. The Opinion of Value that is the conclusion of this report is credible only within the context of the Scope of Work, Effective Date, the Date of Report, the Intended User(s), the Intended Use, the stated Assumptions and Limiting Conditions, any Hypothetical Conditions and/or Extraordinary Assumptions, and the Type of Value, as defined herein. The appraiser, appraisal firm, and related parties assume no obligation, liability, or accountability, and will not be responsible for any unauthorized use of this report or its conclusions. Scope of the Appraisal; 1. Unless otherwise noted in the report a walk through inspection of the subject site and an exterior and interior walk through inspection of the subject improvements, if any, was made by the appraiser. The age of the improvements, tax information and zoning are confirmed with the owner or client or local government when possible and are the appraiser's estimates if not confirmed, 2. Sales and listing information is gathered and confirmed primarity through area Multiple Listing Services and / or appraiser's files, local Reaftor's and Assessment Administrator's files if necessary. Typically the search for sales is limited to the subject's neighborhood and the six months to one year period prior to the effective appraisal date. If the initial market data search proves inadequate then the geographic area and / or the time period of the search is extended. 3. This report is an Appraisal Report per the Uniform Standards of Professional Appraisal Practice in effect on the effective appraisal date or the date the appraisal was signed. “1 General Sales Comments: The sales presented were selected from an extensive search of recent closed sales in the appraiser's and the area Board of Realtors MLS files. These are the best sales for comparison to the subject that my research revealed. In this relatively rural Northern Michigan community, suburban to Traverse Gity, it “1 is common for the comparable sales to be further than one mile from the subject, over six months old, have high land fo value ratios, high adjustment ratios and to have high single line adjustments. These are all conditions that cannot always be avoided in this market and should not be considered negatives regarding the subject's marketability. The market has been relatively stable over this period, if any adjustments for time are necessary, they are made.
Page 25
| Certifications Co Fils Nog Property Address: F Seth Rd, "Parcel 1" City: Northport State: MI Zip Code: 49670 Client: Beynard T, Rocca IV Address: 1414 Forest Ave., Evanston, IL 06/02/2001 Appraiser. Juan Carbonelt Address: 119 Monroe St, Suite #101, Traverse City, Ml 49684 See attached USPAP Identification & Certification page. Client Contact: (lent Name: Bernard T, Rocca IV a E-Mail: _bernard.rocca@gmail.com Address: 1414 Forest Ave., Evanston, IL. 06/02/2001 APPRAISER SUPERVISORY APPRAISER (if required) or CO-APPRAISER (if applicable) 7] Bal) & ’ Supervisory or 2 | Appraiser Name\ Juan Carbonell Co-Appralser Name; < | company: Carbonell Appraisal, Inc. Company:
Page 26
Client
Bemard T. Rocca V
Flie No. 225045
Property Address
E Seth Rd, "Parcel 1"
el
.
City
Northport
County
Leelanau
i
State
MI
Zip Code 49670
Owner
Bernard T. Rocca {V
USPAP (Uniform Standards of Professional Appraisal Practice) APPRAISAL & REPORT IDENTIFICATION
This Report is ong of the following types:
| Appraisal Report
(A written report prepared under Standards Rule
2-2(a)
, pursuant fo the Scope of Work, as disclosed elsewhere in this report.)
Restricted
(A written report prepared under Standards Rule
2-2(b)
, pursuant to the Scope of Work, as disclosed elsewhere in this report,
Appraisal Report
restricted to the stated Intended use only by the specified client and any other named Intended user(s).)
Comments on Standards Rule 2-3
1 certify that, fo the best of my knowledge and belief:
- The statements of fact contained in this report are true and correct,
- The reported analyses, opinions, and conclusions are limited only by the reported assumptions and limiting conditions and are my personal, impartial, and unbiased professional
analyses, opinions, and conclusions.
+ Unless otherwise indicated,
| have no present or prospective interest in the property that is the subject of this report and no personal interest with respect to the parties involved.
- Unless otherwise indicated,
| have performed no Services, as an appraiser or in any other capacity, regarding the property that is the subject of this report within the three-year
period immediately preceding acceptance of this assignment.
- {have no bias with respect to the property that is the subject of this report or the parties involved with this assignment.
- My engagement in this assignment was not contingent upon developing or reporting predetermined results.
- My compensation for completing this assignment is not contingent upon the development or reporting of a predetermined value or direction in value that favors the cause of the
client, the amount of the value opinion, the attainment of a stiputated result, or the ocourrence of a subsequent event directly related to the intended use of this appraisal.
- My analyses, opinions, and conclusions were developed, and this report has been prepared, in conformity with the Uniform Standards of Professional Appraisal Practice that were
in effsct at the time this report was prepared.
- Untess otherwise indicated,
| have made a personal inspection of the property that is the subject of this report,
- Unless otherwise indicated, no one provided significant real property appraisal assistance to the person(s) signing this certification (if there are exceptions, the name of each
individual providing significant real property appraisal assistance is stated elsewhere in this report).
Reasonable Exposure Time
(USPAP defines Exposure Time as the estimated length of time that the property interest being
appraised would have been offered on the market prior to the hypothetical consummation of a sale at market value on the effective date of the appraisal.)
My Opinion of Reasonable Exposure Time for the subject property at thie market value stated in this report is:
180 Days
Exposure time is a retrospective opinion based on an analysis of past events assuming a compefitive and open market. Reasonable exposure time inherent in the
market value concept is always presumed to precede the effective date of the appraisal.
Comments on Appraisal and Report Identification
Note any USPAP related issues requiring disclosure and any State mandated requirements:
The use of this Restricted Appraisal Report is limited to the client and the named intended user(s) in the report. The report may not
contain supporting rationale for all of the opinions and conclusions set forth in the report,
in Michigan Appraisers are required to be licensed and are now Regulated by the Michigan Department of Licensing and Regulatory
Affairs, P.0. Box 30670, Lansing, MI 48909
APPRAISER:
SUPERVISORY or CO-APPRAISER (if applicable):
Ul]
ua
4
Signature:
~
Signature;
_
_Page 27
Survey CERTIFICATE OF SURVEY a z N-S 174 Tine “ NOO'35'25"W NOU'35'25'W IF 0 Seth Round 3 ¥ 3 ; ET CE — === H. EY z 2 8 FE g Ais [| s#&e =5 3% | fyi . Fiz . B] ] 3 g P 3 3 N . | 3 238g : EE 5< BE EZ¥aa ha “ Bl 8 4 [4] RE) . 3 g% 3? andy S9'505 If £ of | = w I 8 x jd ® | rel W b Sel EaEEs g leh A a I 5 MIME Em mp a = - olofn) < [> 3 PERL FE: 13 Fea dR ¥ gd , Es lo [o 2 & 280.52 .- 0 kt NO1°09'53"W -=F | | SS. Fa ¥ Ee | $58 1 £78 <r Sata / NR EY Subject S grEE 2 n ak] Seth Rd, Parcel 1" . [ 2%. 1H #824 ) [EE h = Hoo 5s 2% 33 wn EI < ~ 22 § 2 H 8 gs 2 Za Ea ~ - g Bg 2 Eg ol Ss 545 § 515 8 £2 ts 21d 7 £85 FE Ho EF] BY 5 - is 8 & i= 3 [5 Ee 8 N ) oT’ & =3 2 o How Cel 5 Hi] £ © 8 4 9 | gk s1E Ia AED H E2 518 5) 2m 2 5s 23 & = 2 lf Fg. RR mae 3 E78 ELS 5 LS gro EB Bg (289 fey £2 |BEg & = j=] 2:3 8] Bg |E=g gry = £5 andy akaz wv EEN ol LEGEND noos £522 o = IRON (SET) F248 ® = IRON (FND) , HZOR R = RECORD SCALE: 1"=200" . Enz Mom MEASURED oop 200 3 ZPES C = COMPUTED [Ry] = | hereby certify thal | have surveysd ond mapped the lond abova platted ond/or described on 5/26/23 and thot the relative positional precision of eoch corner is within the limits accepted by the practice of professional by: Leg < surveying, and thot all the requirements of P.A. 132, 1970 as amended have LICENSED LAND SURVEYOR been complied with. uc. § 4001040158 Beoring.-By 3 revlous survey by Leslonou Land Surveying, Job #20041.
Page 28
County GIS Map - Aerial View Subject E Seth Rd, "Parcel 1"
Page 29
Subject Land Photo Page Client Bernard T. Rocca IV Property Address E Seth Rd, "Parcef 1" City Northport County Leelanau State Mi Zip Code 49670 Owner Bernard T. Rocca IV Subject Front E Seth Rd, "Parcel 1" Fi, Sales Price NA Date of Sale 12/31/2024 Site Area 445'BIuffLkMI/10.00ac Location Lk Mich./LeelanauTwp. Topo / View HighBluff/LkMich&sles Improvements FutureSharedStairToLakeMI Other Conservation Esmnt. Subject Rear Subject Street
Page 30
Land Comparable Images 1-3 Client Bernard T. Rocca IV. Property Address _E Seth Rd, "Parcel 1" City Northport County Leelanau State MI Zip Code 49670 Owner Bernard T. Rocca IV Comparable #1 E Seth Rd, "Parcel 1 & 3 three" Comparable #2 E Seth Rd, "Parcel 4" | Comparable #3 | E Seth Rd il Comparable 1 E Seth Rd, "Parcel 1 & 3" Prox. to Subj. Less than 0.01 miles Sales Price 900,000 Date of Sale 07/23/2004 Site Area 445'BUUfiLKMI/13.05a¢ Location Lk Mich. /LeelanauTwp. Topo / View HighBlufi/LkMich&sles Improvements FutureSharedStairToLakeM] Other Conservation Esmnt. Comparable 2 £ Seth Rd, "Parcel 4” Prox. to Subj. 0.12 miles SE Sales Price 320,000 Date of Sale 05/01/2025 Site Area 4.82 ac Location Lk Mich /LeelanauTwp. Topo / View Rolling/Countryside Improvements FutureSharedStalrTolL.akeMi Other Conservation Esmnt. Comparable 3 E Seth Rd Prox. to Subj. Less than 0.01 miles Sales Price 1,125,000 Date of Sale 03/02/2022 Site Area 900"BlufiLkMY/28.00ac Location Lk Mich. /LeelanauTwp. Topo / View HighBluff/LkMich&lsles Improvements None Other None
Page 31
Land Comparable Image 4
Client
Bernard T. Rocca IV.
Property Address
E Selh Rd, "Parcel 1"
cy
Northport
Sounty
1 eelanau
Sule
py
Inbods
49670
Owner
Beard 7. Rocca iV.
Comparable
#4
|
|
Hee
| {Sse
Comparable 4
12063 N Foxview Or
Prox. fo Subject
2.27 miles NE
Sale Price
445,000
Gross Living Area
Total Rooms
Total Bedrooms
Total Bathrooms
Location
Lk Mich /LeelanauTwp.
View
Site
174'BlufiLkMY/1.69ac
Quality
AgePage 32
Location Map Client Bernard T. Rocca IV. Property Address E Seth Rd, "Parcel 1" Clty Northport County Leelanau Stats MI Zip Code 49670 Owner Bemard T. Rocca IV. a la mode, in COMPARABLE No. 3 £ Sath Rd Lass than 0.01 miles £ Sath Re, "Parca 1 & 3° Less than 0.01 miles "COMPARABLE No. 2 E Seth Rd, "Parcel 4" 0.12 miles St COMPARABLE No. 4 3 12063 N Foxview Dr k 2.27 miles NE
Page 33
Appraiser’s Qualifications - Page 1 CAREBONELL APPRIASAL, INC, REAL ESTATE APPRAISER / OWNER JUAN CARBONELL MICHIGAN CERTIFIED GENERAL APPRAISER # | 20500084 | - SINCE 1 991 CARBONELL APPRAISAL, INC. | 19 MoNROE ST, SUITE 101 TRAVERSE CITY, Ml 46684 PHONE (23 |) 835-4889 Email. je@carbonellappiaisal.com Wee Pace www.CatbonellAppraisal.com QUALIFICATIONS OF THE APPRAISER Juan Carboneli Michigan Certified General Real Estate Appraiser #1205000841 (since 1991) APPRAISAL EXPERIENCE fa Appraiser & Owner Carbonell Appraisal, Inc. 1985: Present Appraiser Associated with Michael Tamow, MAI, RM, 1991 — 1995 Garfield Charter Township Board of Review Member 1995 - 1999 Garfield Charter Township Deputy Assessar, 1989 — 1991 Garfield Charter Township Residential Appraiser, 1987 - 1989 PROFESSIONAL AFFILIATIONS Traverse Area Association of Realfors (MLS Committee Member 1996} Northern Great Lakes Regional MLS Aspire North Reattors (fka. Traverse Area Association of Realtors) Michigan & National Associations of Realtors MICHIGAN STATE LICENSE / CERTIFICATIONS Certifiad General Real Estate Appraiser, #1205000841, November 1981 - Present Advanced Assessing Officer (Level 3) #R-5583, August 1989-2017 State Assessors Board Level Il Certification, September 1987 State Assessors Board Level | Certification, April 1987
Page 34
Appraiser’s Qualifications - Page 2
APPRAISAL EDUCATION
State Assessors Board, Level { Course
- 1986-87
AAO, Course 2 Income Approach to Value
- 1987
IAAQ, Course 301 Mass Appraisal
Residential Property
.-.
1988
#
Michigan Assessors Assoc., Property Tax Law & Exemptions
-
1988
Michigan Assessors Assoc., Income Approach If - 1989
Michigan Assessors Assoc., Commercial/indusirisl Manual
-
1989
Michigan Township Assoc., Michigan Tax Tribunal - 1989
Michigan
Assessors
Assoc.,
Hawletl-Packard
Financial
Calculator - 1930
State Assessors Board, Computers in Assessing (instructor)
-
+
1990
State
Assessors
Board,
Economic
Condition
Factors
{Instructor)
- 1991
Michigan Assessors Assoc., Namative Appraisal - 1991
Appraisal Institute, Basic income Capitalization - 1993
Appraisal Institute, Appraisal Principles — 1994 (Successful
challenge}
Appraisal Institute, Standards of Professional Practice, Part A
-
1994
Appraisal institute, Appraisal Procedures — 1994 (Successful
challenge)
National Assoc. of Realtors, USPAP & Environmental Issues, -
1995
State Assessors Board, Implementation of Proposal “A” - 1995
PARTIAL CLIENT LIST
Appraisal Enhancement Services
Dwellworks, LLC
First American Business Solutions
Land Safe Appraisal Service, Inc.
NOVO Appraisal Management Co,
PCV Murcor, Inc.
Safeguard Properties, inc.
Solidifi Appraisel Management Co.
StrestlLinks Appraisal Management Co.
HomaeStrefch Nonprofit Housing Corporation
Alden State Bank
Central State Bank
Chemical Bank
Citizens Bank
Fifth-Third Bank
First Community Bank
Honor Bank
Huntington National Bank
Independent Bank
PNC Bank
Stale Savings Bank
West Shore Bank
4Front Credit Unlon
TBA Education Credit Union
MSU Federal Credit Union
Navy Faderal Credit Union
Traverse Catholic Federal Credit Union
ADMIREE, The Appraiser
& the Law - 1997
ADMIREE, Surveying, Planning & Zoning ~ 1999
Northen Mich. University, USPAP
— 1999
McKissock, Factory Built Housing - 2003
McKjssock, Information Technology & the Appraiser - 2003
McKissock, FHA Appraising Today — 2003
Mich Assessors Assoc, Advanced Income Approachi&li- 2003
Worldwide ERC,Relocalion Appraisal Training Program — 2006
McKissock, Appraising FHA Today — 2009
McKissock, FHA Appraiser Inspection Checklist Course — 2009
McKissock, Income Property Analysis and Valuation - 2011
McKissock, Uniform Appraisal Dataset - 2011
McKissock, Ad Valorem Tax Consultation - 2011
McKissock, Green Building for Appraisers — 2011
McKissack, Disclosures and Disclaimers — 2011
McKissock, Expert Witness for Commercial Appraisers — 2013
McKissock, 2014-15 National USPAP Update — 2014
McKissock, Applications of Appraisal Analysise — 2014
McKissock, 12 Steps to USPAP Compilant Appraisals — 2015
McKissock, The New FHA Handbook 4000.1
2015
Mich.Assessors Assoc, Mich. Tax Tribunal Appeals - 2015
McKissock, 2016-17 National USPAP Update - 2016
OREP, How to Support & Prove Adjustments - 2017
McKissock, Michigan Appraisal Law ~ 2019
McKissock, 2020-21 National USPAP Update — 2020
Continuing Education Courses from 2020 - Present date
NEI Relocation Service
Home Equity Relocation Company
PHH Relocation Company
ReMax Relocation Company
Weichert Relocation Resources
Joseph E. Quand, Attorney
Teny C. Rogers, Attomey
James R. Williams, Attomey
Amy M. Swogger, Attorney
Stephen C. Chambers, Attormey
Cunningham Davison Rogers & Alward, Atfomeys
Robert Guyot Il, Attomey
Road & Shaip, Attorneys
Smith Haughey Rice & Roegge, Attorneys
Young, Graham, Elsengeimer & Wendling PC Attornays
GroganLaw, PC
Rosl & Gardner, P.C.
Leelanau Land Conservancy
Grand Traverse Regional Land Conservancy
Grand Traverse Band of Ottawa & Chippewa Indians
Private Individuals, Partnerships, LLC's, Estates & TrustsPage 35
PEZZETTI, VERMETTEN, POPOVITS & UMULIS, P.C. ATTORNEYS AT LAW MICHELLE L. SCHUBERT 600 E. FRONT STREET, STE. 102 E-mail: mschubert@mich-legal.com TRAVERSE CITY, MI 49686 (231) 929-3450 Facsimile (231) 941-9568 July 30, 2025 VIA FEDERAL FIRST-CLASS MAIL State of Michigan Michigan Tax Tribunal 2" Floor MOAHR 2407 N. Grand River Avenue Lansing, MI 48906 Re: Bernard T. Rocca and Rebecca Rocca v Leelanau Township Dear Sir or Madam: Enclosed please find Petitioner’s Property Tax Petition with exhibits to be filed. Also enclosed please find a check in the amount of $400.00 for the filing fee. Upon receipt of a Docket Number Petitioner will serve the Petition upon all parties and file a Proof of Service of same with the Tribunal. Sincerely, — Michelle L. Schubert MLS Encls. 15988.0001
Page 36
Pezzetti, Vermetten, Po 600 E. Front Str Traverse City State of M Michigan Ta 2nd Floor 2407 N. Grand Lansing, M