Total estimated value of rentals is $148 million

Posted May 9, 2013

The total value amount for the 2012 estimated market value for rental properties in River Falls is $147,934,600, according to Pierce and St. Croix county property tax records.

The top 10 rental properties contributing to this total are listed at:

1. $3,830,900 (1473-1477 Riverside Drive)
2. $3,352,100 (1431-1457 Wildcat Court)
3. $1,988,800 (517 Wasson Court)
4. $1,888,200 (1011-1041 State St.)
5. $1,784,900 (530-594 Clark St.)
6. $1,573,300 (1071-1077 E. Cascade Ave.)
7. $1,484,900 (1495 Riverside Drive)
8. $1,405,900 (205 W. Cascade Ave.)
9. $1,326,000 (237 Broadway St.)
10. $1,259,500 (1518-1546 S. Wasson Lane)

The estimated, or fair, market value of a property is determined by the county assessor.

The top two valued properties are owned by the same company, Wisota LLC. However, only two of the properties are located on the same street (Cascade Avenue), but are located on opposite ends of the road. All other properties are scattered around River Falls. These 10 properties make up 13 percent of the total 2012 estimated fair market value.

In addition, 12 properties saw a significant change in their property value. Four of those properties gained substantial value from 2011 to 2012. The top two, gaining 535 percent and 292 percent respectively, are both owned by University Falls LLC, one of which is also in the top 10 valued properties.

Additionally, a property owned by Best Key Properties LLC gained 162 percent, and a property owned by J & L Properties of River Falls gained 86 percent. Six properties gained more than 10 percent in their value and four are located on Cascade Avenue.

Six properties saw their estimated market values decrease by more than 10 percent. The largest two lost all of their property value from 2011-12. One of these, owned by Glen Bottolfson, also owed delinquent taxes. The other, owned by Our Neighbors Place, was sold to its current owner, which is a non-profit organization. Three of those six properties to lose value are located on Main Street. Overall, the majority of properties in River Falls lost between 2 to 4 percent.

Reporting by Alicia Carlson, Trenten Gauthier, Ashley Kiritschenko, Ben Lamers and Meg Rodriguez