three approaches to value on your property record card n.
Download
Skip this Video
Loading SlideShow in 5 Seconds..
Three Approaches To Value On Your Property Record Card PowerPoint Presentation
Download Presentation
Three Approaches To Value On Your Property Record Card

Loading in 2 Seconds...

play fullscreen
1 / 34

Three Approaches To Value On Your Property Record Card - PowerPoint PPT Presentation


  • 157 Views
  • Uploaded on

Three Approaches To Value On Your Property Record Card. John Burgiss, RES Forsyth County Tax Assessor/Collector Email: burgisjt@forsyth.cc Telephone: 336.703.2301. Presentation Agenda. Why are the three approaches to value important in mass appraisal? Forsyth County Valuation History

loader
I am the owner, or an agent authorized to act on behalf of the owner, of the copyrighted work described.
capcha
Download Presentation

PowerPoint Slideshow about 'Three Approaches To Value On Your Property Record Card' - dempster


An Image/Link below is provided (as is) to download presentation

Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.


- - - - - - - - - - - - - - - - - - - - - - - - - - E N D - - - - - - - - - - - - - - - - - - - - - - - - - -
Presentation Transcript
three approaches to value on your property record card

Three Approaches To Value On Your Property Record Card

John Burgiss, RES

Forsyth County Tax Assessor/Collector

Email: burgisjt@forsyth.cc

Telephone: 336.703.2301

presentation agenda
Presentation Agenda
  • Why are the three approaches to value important in mass appraisal?
  • Forsyth County Valuation History
  • Where should the valuation data be displayed?
  • Examples of valuation data display
  • Successes and Improvements
  • Questions and Comments
why are the three approaches important
Why Are The Three Approaches Important?
  • Generally Accepted Appraisal Theory
  • NC General Statutes
  • Court Decisions/Other Rulings
  • Public Relations
generally accepted appraisal theory
Generally Accepted Appraisal Theory
  • “Since about 1910, three approaches to estimating market value have been evident in the literature of appraisal: sales comparison, cost, and income. All have been refined through the years…” Property Appraisal and Assessment Administration, 1990, Page 82
nc general statutes
NC General Statutes
  • GS 105-283. Uniform Appraisal Standards – “All property… shall…be appraised or valued at its true value in money.”
  • GS 105-317(a)(1),(2). Appraisal of Real Property – adaptability of property uses, past income, probable future income, cost, etc.
court decisions other rulings
Court Decisions/Other Rulings
  • Belk-Broome emphasizes the income approach as the primary appraisal method for appraising income producing properties.
  • Greensboro Office Partnership points toward the use of market rents in determining the value of an income producing property.
  • Philip Morris USA discusses the appropriateness of a certain cost approach method.
court decisions other rulings1
Court Decisions/Other Rulings
  • Blue Ridge Mall 08 PTC 026
public relations
Public Relations
  • Appraisal Accuracy
  • Appraisal Competency
  • Appraisal Efficiency
  • Appraisal Transparency
forsyth county valuation history
Forsyth County Valuation History
  • Forsyth County started conducting “In-House” revaluations in 1988.
  • Revaluation Dates: 1988, 1993, 1997, 2001, 2005, 2009, 2013
  • First published Income Approach guide produced for the 1976 Revaluation
  • First published Income Section in the Schedule of Values for the 1997 Reval
  • Cost/Market “Hybrid” Approach for Residential Properties
valuation approaches display
Valuation Approaches - Display
  • Schedule Of Values, Standards and Rules
  • Property Record Card
  • ..in the interest of full disclosure>>
  • The Internet
successes and improvements
Successes and Improvements
  • Public Compliments
  • Clarity of page 1 valuation summary
  • Commercial Sales Comparison
  • Card print speed for large commercial properties
  • Few minor display bugs
additional property record card
Additional Property Record Card
  • Attached is an example of a property containing an income producing commercial property and a single family dwelling. Two approaches used; total value brought together on the Income Approach.