Part 1:
1. Conduct a web search to locate a property appraiser’s
office in your area.
Q1: Does your property appraiser offer a web mapping site?
If so, what is the webaddress? If not, what is the method in which you may obtain
the data?
2. Most property appraiser’s websites offer a list of recent
property sales by month. Search for the month of June for the current year and
locate the highest property sold.
Q2: What was the selling price of this property? What was
the previous selling price of this property (if applicable)? Take a screen shot of the
description provided to include with this answer.
A search of sales for the month of June in the current year returned no sales. After contacting this property appraiser I found out that they have not yet posted the current year sales for the month of June. So I searched for sales in the month of June for the prior year. The selling price for the highest property sold was $728,000. The previous selling price for this property according to the property record card was $700,000;
3. The selling price and assessed price will differ in most
cases (higher or lower).
Q3: What is the assessed land value? Based on land record
data, is the assessed land value higher or lower than the last sale price? Include
a screen shot.
According to the property record card the land value of this property is $466,650 which is lower than the last sale price.
Q4: Share additional information about this piece of land
that you find interesting. Many times, a link to the deed will be available providing
more insight to the sale.
A link to the deed for this land is not provided on the site but reviewing the sale info on property record card above indicates that this property is a Shoney's Restaurant that was foreclosed on by the bank.
Part 2:
Land Assessment Values
Q5: Which accounts do you think need review based on land value and what you've learned about assessment?
Based simply on land value, I believe that accounts 090310105, 090310165, 090310175, 090310245, 090310260, 090310320 & 090310325 need to be reviewed. Typically, all lots within a planned subdivision have uniform land values. Granted each lot may not sell for exactly the same price because one buyer may choose to pay a little extra for a corner lot or a lot on a cul-de-sac, or a lot may sell for less if it has heavy traffic. But the purpose of the property appraiser is to conduct mass appraisals in a uniform and equitable manner. Local governments then base their budget on the these values and in turn property taxes. So when outliers appear within a subdivision like this, they must be re-evaluated for fairness.