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Welcome.  Market sales approach – At least one comparable property in the same geographical area.  Cost approach – include all costs to build or rebuild.

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Presentation on theme: "Welcome.  Market sales approach – At least one comparable property in the same geographical area.  Cost approach – include all costs to build or rebuild."— Presentation transcript:

1 Welcome

2  Market sales approach – At least one comparable property in the same geographical area.  Cost approach – include all costs to build or rebuild the improvements plus the land value.

3  Income approach  Complete and notarize the Income & Expense Statement (DOR)  Include a comparison to the market income  Please provide the physical address where the source documents are located (Affidavit section of the income/expense report)  Other – identify the specific areas of concern such as the legal class, rollover etc.

4  The form must be the Department’s current form.(dated in 2004)  Signed by the person who owns, controls or occupies the property  The signature date must be from January 1, 2012 and prior to the filing deadline (April 17, 2012)  We are not verifying the legal status of the person who signs the form.

5  May comprise of properties that are not contiguous or owned by the same owner.  They must be managed and operated on a unitary basis.  They must make a functional contribution to the operation.

6  Notices mailed on February 17,2012  Appeal filing deadline is April 17, 2012  The Assessor’s deadline to answer the appeals is August 15, 2012  The office’s goal is to have all appeals answered by August 1, 2012

7  No Change in the process from last year.  A drag and drop functionality exists for loading the forms.  Able to name and rename files while in the upload queue  A single data file can contain multiple appeals

8  Able to go back and review the history of previous submissions.  An confirmation will be sent a couple of minutes after your submission has been received.  Important – Correctly naming the documents helps assure we can timely answer your appeal.

9  Total mailed 41,530  This number was caused due to an anomaly in the calculations due to the converting from the Department of Revenue’s system to Marshall & Swift’s system.  The majority are higher than the original calculations.

10 Total Full Cash Value Noticed $70,602,560,585 Supplemental$72,168,235,890 Difference$ 1,565,675,305 These numbers include the exempt properties.

11  The Notices were printed with a 20% ratio instead of the 19.5% ratio  A letter will be sent out to the property owners as to the correction. (Thursday the 23 rd )  The Appeal deadline is not affected since the Statutory information is correct.

12  We will be limiting the meetings to 15 minutes  We will have a Preliminary Position  The staff will share the information  If new information is supplied by the petitioner at the meeting, the appraisal staff will review it prior to their opinion of value is finalized

13  The Assessor’s staff will provide you with a copy of the Preliminary Position once both sides have signed the Declaration Form.  Notification of reductions for one million dollars or more will be sent to the Mr. Russell, Mr. Boncoskey and Mr. Boisvert.  Testing an electronic meeting notification process. (Land Division)

14 301 W. Jefferson Street: Commercial Land Agricultural Mobile Home 501 W. Jackson Street: Residential Land

15  Appeals that are not in compliance will be rejected. (Incomplete forms or missing agent authorization form)  The rejection letter will be sent certified.  The Statutory 15-day re-submittal is required.

16  File directly to the State Board  I would request that you would your supporting documentation to us.  It would allow the appraisal staff to complete a more thorough review before finalizing their opinion of value.  Information will be coming on who should receive the documentation for review.

17 Parcel CountsSBOELevel TotalCount 19,892 No Change #11,767 Reduction # 8,125 Assessor’s recommendations at the SBOE Level were 11.8% out of the 40.8% in total reductions.

18 QUESTIONS

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